Mirakl’s Post

Best Buy plans to launch a new third-party marketplace in the U.S. in mid-2025, and the opportunity to sell on the platform is gaining attention from brands, even those outside of consumer electronics. CEO Corie Barry told investors about the new marketplace on an earnings call in November, saying it would give its customers access to a larger assortment and new categories. It will also give sellers and advertisers a new avenue on which to increase their reach and build their brands, she said. In December, Best Buy’s chief marketplace and e-commerce officer, Frank Bedo, posted on LinkedIn that the marketplace began accepting applications. In this piece by Mitchell Parton, we speak to Yaakov Antokol of Tiger Companies, George H. of Pattern®, and Andrew Waber of Momentum Commerce.

With Best Buy’s upcoming marketplace launch, it's clear that brands are increasingly turning to their own marketplaces as a way to give customers more choice and convenience and unlock new competitive opportunities through expanded assortment. With #ecommerce marketplace offerings on the rise, it remains key for brands to build #BrandLoyalty, trust and deep customer relationships. https://bit.ly/3CjKX0s

Best Buy taking a second swing at adding a Marketplace to its business to expand product reach for customers and gain revenue. Hopefully a win-win. Your thoughts? Excerpts: With the new platform, third-party sellers can integrate their product assortment onto Best Buy’s website and mobile app, the company said. Best Buy is partnering with enterprise marketplace tech company Mirakl on its marketplace launch. Mirakl has worked with other major retailers including Macy’s, Nordstrom and Kroger, per the company’s website. With Best Buy Marketplace, sellers will be able to “expand their reach, break through and grow their brand,” the company said in a statement. They will also have access to its Best Buy Ads and partnership opportunities. “We’re incredibly excited to roll out Best Buy Marketplace later this year and provide our customers an expanded assortment of products, new categories and the ability to bring them emerging tech more quickly,” Frank Bedo, chief marketplace and e-commerce officer at Best Buy, said in a statement. “Not only will we be able to introduce new brands, but these sellers will also have the opportunity to get in front of a much larger audience of shoppers alongside other reputable brands.” Best Buy’s new third-party marketplace strategy comes amid revenue declines. In its third-quarter earnings report, the company said revenue decreased 3.2% year over year to $9.4 billion, while comparable sales declined 2.9%, as did operating income. The company reduced its full-year revenue guidance from between $41.3 billion and $41.9 billion to between $41.1 billion and $41.5 billion. #BestBuy #Retail #Marketplace

Looks like Best Buy is bringing back their third-party #RetailerMarketplace. 😵💫 They’re last attempt “created confusion among buyers who thought they could return the inventory to Best Buy stores” and only brought in 1% of the revenue. ⛔️ Many are saying they’re coming back in too late while others feel this is a last ditch effort to stay relevant. ✅ Product and brand selection will be critical this time around - along with providing an ideal consumer experience. 🔁 They will need to do what the others are doing — allow consumers to return via online processes or in-store (just like Walmart Marketplace and Target Plus).

Best Buy is set to launch a new third-party marketplace in the U.S. by mid-2025, expanding beyond its traditional electronics offerings. Partnering with Mirakl, the platform aims to provide customers with a broader assortment, including categories like phone cases, home theater accessories, wellness products, and more. This initiative offers sellers access to Best Buy's extensive online customer base and advertising opportunities. The move comes as Best Buy seeks to diversify amid softened demand in core consumer electronics. Modern Retail #RetailInnovation #Ecommerce #MarketplaceExpansion #BestBuy #RetailStrategy

💡 Did you know? Over 2 billion people shop online every year. That’s nearly 1/4 of the world’s population waiting to buy what YOU offer. But here’s the catch: competition is fierce. Platforms like Amazon, Walmart, and eBay make it easier than ever to sell—but harder than ever to stand out. ✨ The Solution? A Winning Strategy. Here’s what separates top sellers from the rest: ✔️ SEO-optimized listings that attract buyers like a magnet. ✔️ Eye-catching product visuals that build trust. ✔️ Automated processes that save time and boost efficiency. ✔️ Smart ad campaigns that drive consistent traffic. Our team has helped brands go from struggling to scaling in record time. 🏆 Whether you're just starting or looking to dominate your niche, we’ve got the blueprint for success. 🔥 Ready to turn clicks into profits? Let’s make your e-commerce store UNSTOPPABLE. 📩 DM me or book a call to see how we can take your store to the next level. #ECommerce #OnlineSales #MarketplaceGrowth

Learn how to reach your brand's full potential on Walmart Marketplace! 🚀 With millions of eager shoppers at your fingertips, it's time to take your sales strategies to new heights. From optimized listings to strategic promotions, with Cart.com you can turn browsing into buying and boost your bottom line. 🛒💰 I Cart.com I https://bit.ly/3K22Sc8 #WalmartMarketplace #ecommercemarketplace #SalesStrategy #MarketplaceGrowth #retailgrowth #promotions #productlistings #omnichannelretail #growthmarketing #marketplaceservices #addedtocart

Today, I had a moment in my local supermarket that got me thinking. I met with a brand that I’ve been using for a long time now—Minimalist—and realized how many D2C brands that started online are now making their way to supermarket shelves. It’s interesting to see how this might actually be the most profitable way to sell products. You don’t have the high cost of customer acquisition like you do online. People come, they see, and they buy. Maybe they even refer it to a family member who’s shopping with them, and they buy it too. On the other hand, when selling online, you’re dealing with ad spends that can eat into your profits. Even if you’re a loyal customer searching on Google, you might click on an ad that the brand had to pay for. Same goes for Amazon, where you could end up clicking on a sponsored ad. Competitors can target your keywords, and even if someone is searching for your brand directly, you have to spend money to stay on top of the search results. It’s really something to see a brand like Minimalist, which started just on a Shopify site, grow all the way to reaching supermarket shelves in a tier-three city. It’s a great achievement, especially when you think about how they’re now sitting alongside giants like ITC or Unilever.

Here's the way I explain the relationship between being Amazon vs Shopify on our grad scheme👇 Otherwise known as "explain like I'm 24 ELI24" Background: we ran a test with Mother Root this year that showed that by being on Amazon as well as Shopify, they were losing overall cash profit within the business. That can be quite tricky to unpick how that happens. Here's how I walk it through. First of all, imagine you're the founder of a crisps brand. In a city centre you've got the following: - Your billboard advertising your crisps - A market stall where you sell your crisps DTC from - An Amazon where you're also stocked in Person A sees the billboard, goes to your market stall and purchases. Person B sees the billboard, goes to your market stall, but finds shopping direct inconvenient. They wonder if you might be in Amazon, wander over, and purchase from Amazon. Person C does exactly as Person B does, but then gets distracted in Amazon and doesn't buy. Person D sees your billboard, doesn't go to your market stall, heads to Amazon anyway for other shopping, sees your product, remembers the billboard and buys Person E doesn't see the billboard, is in Amazon shopping anyway, and sees an in store promotion and buys. All five of these actions are created by your billboard. Which people do you want to optimise towards?

Consumers are shopping across multiple platforms—online, in-store, and via social media. Businesses need seamless inventory visibility across channels to avoid stockouts and optimize fulfillment. #inventory #smallbusiness #ecommerce #shopify