Launch your own marketplace with Adobe Commerce and Mirakl
With today’s booming ecommerce landscape, both merchants and consumers increasingly rely on ecommerce. With most merchants reporting a significant increase in ecommerce traffic in 2020, growth for 2021 built on those peaks but at a slower rate. Some merchants are wondering, “What can we do to increase our ecommerce footprint with the resources we already have?” The answer might be simpler than you thought.
Have you thought about building your own online marketplace, like Amazon or Alibaba? It makes sense that larger marketplaces gather more shopper traffic than smaller, single-source sites. You could say that online marketplaces are the shopping malls of the ecommerce world, bringing multiple merchants into a single shopping destination. But online, outside of brick and mortar, the marketplace model can be applied to both B2C and B2B.
- Two-thirds of global B2C e-commerce sales are now captured by marketplaces (Forrester Research; ForecastView Global Online Marketplace Tracker, 2015 to 2022).
- B2B online sales via marketplaces will increase to USD $4.0 trillion in 2025– a 32% CAGR. This increase means that marketplaces will account for 14% of total B2B ecommerce sales by 2025 – an increase of 7%. (Source: Online marketplace payments to hit USD $8.7 trillion by 2025)
Today, merchants rely on two ecommerce strategies to take advantage of marketplace growth:
- Listing their products on third-party marketplaces like Amazon, Walmart, eBay, and others.
- Operating their ecommerce storefront as a marketplace model, inviting new third-party sellers to list on their website and connect with online buyers.
Thankfully, Adobe Commerce and Mirakl can help you deliver both!
Operating your own Marketplace using Adobe Commerce
Once you’ve made the decision, starting your own marketplace is not as difficult, expensive, or time consuming as you might think. If you use Adobe Commerce with the Mirakl Marketplace Platform.
When paired with the Mirakl Marketplace Platform, Adobe Commerce merchants are no longer limited to their own product catalog or their own store for their online revenue. Integrating the Mirakl Marketplace platform with your existing Adobe Commerce store turns your store into a fully functional marketplace by allowing third-party sellers to add their product listings to your store to expand the product selection available to your customers. Using the prebuilt Mirakl Marketplace Operator Connector to integrate with Adobe Commerce allows you to rapidly onboard new sellers and map new products and categories, thus reducing your Marketplace time to market. Once connected, you can manage Mirakl capabilities directly from your existing Adobe Commerce Admin UI.
The Mirakl Marketplace Operator Connector allows Adobe Commerce merchants to manage third-party sellers from the Mirakl Marketplace Platform directly within the Adobe Commerce Admin UI.
So, adding Mirakl to Adobe Commerce, immediately increases your revenue stream from third-party sales without any changes to your products or catalog.
- You might wonder whether operating an ecommerce marketplace is different than adding traditional drop-ship fulfillment. In fact, it is: In a drop-ship model, third-party sellers or distribution partners in your network fulfill orders from your website but the online buyer does not necessarily know that the product was shipped from a third-party. Organizations invite drop-ship partners to fulfill orders by integrating to their warehouse management and order workflow.
- In a marketplace model, third-party sellers list directly on your website and are often known to the online buyer. Third-party sellers often compete with one another to gain priority, high ratings, and superior prices on a marketplace to succeed. Organizations operate a marketplace by integrating a Marketplace Platform, like Mirakl, with their ecommerce platform like Adobe Commerce.
For example, Adobe Commerce customer, Turner Price operates a B2B ecommerce marketplace by inviting third-party sellers to list on their website. In the example below, is selling this Giesser Chef Knife, not Turner Price.
But, there is more you can do with Adobe Commerce and Mirakl!
Become a Third-Party Seller on Mirakl-powered Marketplaces
The Mirakl Marketplace Seller Extension also enables merchants to sell their Adobe Commerce product catalog on other marketplaces that are powered by Mirakl, such as Hewlett Packard Enterprise, Kroger, and Urban Outfitters. Offering your catalog on larger marketplaces helps your business by expanding product availability and introducing your brand to potentially millions of new customers.
The Mirakl Marketplace Seller Extension allows you to manage third-party marketplace listings from within the Adobe Commerce admin UI along with your other storefront catalogs.
The Mirakl Marketplace Seller Extension allows Adobe Commerce merchants to manage their listings on Mirakl-powered Marketplaces.
With potential benefits like this, it is easy to see why more than 20,000 businesses are selling on Mirakl-powered marketplaces.
- Adobe Commerce merchants can become third-party sellers on Mirakl-powered Marketplaces by completing these steps: Register for Mirakl Connect, a free directory of eligible marketplaces.
- Apply or register to become a seller directly with the desired marketplaces.
- Install the Mirakl Marketplace Seller Extension to your Adobe Commerce instance.
- Follow the installation and configuration process to connect Adobe Commerce to third-party marketplaces.
Check out this exciting opportunity for Adobe Commerce customers today!