In recent years, many online retailers have built out large third-party marketplaces so smaller businesses can jump into the game and sell their merchandise on better known sites. The small business owner benefits from the recognizability of the big box brand name. The big box retailer gains more inventory than they’d otherwise carry on their own.
Sellers can utilize platforms like Shoppingfeed to get their products listed, track inventory and optimize product descriptions. The brand already works with Amazon, eBay, Google and some other sites. Soon, they’ll work directly to get items onto Macy’s website.
Meet Macy’s Standards
The big box retailer is known for high quality products and longevity. With that in mind, merchants will need to get product approval to list items on the platform. For the next step, you’ll have to meet EDI requirements.
EDI is Nordstrom and Macy’s electronic data interchange. It’s vital to get things set up correctly so you don’t face expensive chargebacks. It’s best to integrate with a third-party system to ensure everything is set up properly.
While not every product is a good fit for the higher end products sold through Macy’s, many e-commerce sellers will find they can easily adapt and offer products users of the site want.
Participate in a Global Marketplace
The world is interconnected via the internet and with faster shipping than at any other point in time. Cross-border capital increases your revenue more than serving only a small local niche. When Mirakl teams up with Macy’s, expect to expand your reach to people across the country and in other locales.
Figuring out how to collect taxes, fill out customs’ forms and pay duties is daunting. Third-party marketplaces simplify the process and help buyers sell without having to hire a full-time foreign sales consultant.
Macy’s points to the fact that where they have a physical store, their online game is still stronger. The marketplace is their next step in adopting a more digital approach. E-commerce stores take in around $5 trillion a year in sales. However, the pandemic drove many people to try online shopping and some have stayed for the convenience of shopping from home.
Most experts believe online shopping trends will continue to rise over time, replacing many traditional models. The ability for smaller merchants to team up with stores such as Bloomingdale’s and Macy’s helps drive sales for mom-and-pop retailers. The ability to team up with the well-known retailer is a boon to most small e-commerce stores.
Adapt to Changing Times
As the younger generation reaches adulthood and come into their own, e-commerce should grow even more. Gen Zers are the first generation to never live without access to today’s popular electronics. They’ve always been around cell phones, they’re adept at computers and they know how to navigate an online shopping cart faster than a frugal person can snatch up a lost penny.
Pay attention to where Macy’s and Mirakl go with this new venture in the coming months. The platform is set to roll out sometime in the third quarter of 2022.
« If you want to sell on Macy’s Marketplace let us know here »
Eleanor is the editor-in-chief at Designerly Magazine. She’s also a freelance web designer with a focus on customer experience. Eleanor lives in Philadelphia with her husband and dog, Bear.
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