Myer’s answer to the stiff competition generated by international e-commerce players, The Myer Market, has announced a milestone moment – the onboarding of its 150th seller.
Myer’s newest online venture, The Myer Market announced on Friday that it has passed a key milestone in the ongoing development of its exclusive online business, as the marketplace onboarded its 150th seller. This brings the website’s online product tally to 30,000.
According to the embattled department store retailer, since launching in December 2017, its online hub has achieved solid growth; 30 percent in the last quarter alone.
“What the Myer Market has been able to achieve in this short period is very encouraging, reaching an important milestone with the onboarding of the 150th seller and 30,000th product, Mark Cripsey, Myer’s chief operating officer said.
“Myer has moved into this new space and it’s exciting to see consumers respond in such a positive way.”
This milestone marks a 300 percent growth in the number of sellers on the platform in a matter of months, a fact that Marketplacer’s CEO, Jason Wyatt is very pleased with.
“It has been exciting to take 11 years of learning and experiences with marketplaces around the world and put them into practice with The Myer Market. Our platform has been able to help Myer quickly and effectively extend their range and offer into new categories that their customer was naturally looking for.
“Congrats must be passed onto Mark and the Myer executive team for having the confidence to move in this direction, we are well on the path to a really successful marketplace,” Wyatt said.
According to Myer, the marketplace has allowed the struggling business to strike strong relationships with brands like Lorna Jane and PetStock, as well as smaller, design-led brands that wouldn’t normally be found within the bricks-and-mortar Myer stores, such as Inartisan, Cedar & Stone and HK Living.
Sellers have also reported pleasing results from the platform, with Kate Brown, the CEO and founder of Henley & Co saying the flexibility offered by the marketplace has been “exceptional”.
“We were able to sell online on the platform within days; this is a fundamental shift away from the traditional retailer ‘merchandising/buying’ cycle and has meant we can be responsive and react swiftly to consumer demand,” she said.
The Founder of Incy Interiors, Kristy Withers, has echoed similar sentiments, as she claims the results from listing on The Myer Market have more than justified the decision to join the online branch of Myer’s business.
“The platform has allowed us to reach a large consumer base really quickly, and selling under the Myer umbrella gives people a lot of confidence and value. Our sales growth shows it’s clearly working!”
According to Myer, increasing consumer interest in online shopping and marketplaces has fueled the success of its latest online venture.