Myer debuts online marketplace as Amazon threat looms

ASX-listed retailer puts call out for suppliers to join The Myer Market, a new online portal for selling a wider range of brands

Myer has put out a call for suppliers to participate in its new Myer Market after launching a beta of the online marketplace this week.

The Myer Market is an online marketplace promising Australian shoppers a curated range of higher-end local and international brands not previously seen on Myer shelves. First detailed in the department store giant’s November strategy update, the intention is to offer up a diverse range of categories through numerous sellers, and provide consumers with access to products not traditionally available through traditional Myer channels.

The site has been developed in partnership with Australian company, Marketplacer, which delivers marketplaces across nine countries and 3000 sellers, including the Bike Exchange.  

The Myer Market’s debut comes as Amazon’s launch in Australia looms imminent and is the ASX-listed company’s answer to the US behemoth’s marketplace approach. It also comes as the embattled retailer continues to try and revitalise its brand and build out omni-channel capabilities in the face of ever-tougher trading conditions for local retailers.

Myer softly launched the beta portal this week, as well as a dedicated form for potential partners to register their interest, and said it’s looking to evolve and refine based on customer and supplier feedback. Sellers pay a monthly membership fee plus a commission to Myer on all sales.

Brands featured initially include redballoon, Lekker, Fitbit and Plyroom. Products are also showcased under more traditional product categories as well as areas of interest such as discovery, kitchen and dining, and sports and outdoors. The Myer Market will operate as a subdomain alongside the myer.com.au portal.

“Some of the world’s fastest growing companies are marketplaces; selling products and services without owning the asset,” Myer chief digital and data officer, Mark Cripsey, said.

“Myer has a tradition of curation and The Myer Market is an exciting new frontier, to leverage our brand and expand our range and offer as we continue to strive to provide our customers with innovative retail environments and experiences both in-store and online.”

Read more: How Suncorp plans to reduce churn with its connected customer strategy

Sellers are required to ship their own goods directly to consumers, however, the department store giant said its ‘no regrets policy’ will allow consumers to return an item via post or drop it off at physical stories.

To help incentivise consumers, Myer will offer two shopping credit to Myer one members for every $1 spent in the marketplace. It’s also offering gold or platinum customer loyalty program members free standard delivery nationally and said suppliers are expected to deliver within seven business days.

In cases where Myer is the direct seller, the retailer offers a standard delivery window of 4-7 business days across the country with the exception of some regional areas.

“The Myer Market fulfils a demand from Myer’s core customer base for an Australian-owned online portal,” the company stated on its website. “And importantly, an online portal that offers an e-commerce experience at scale, one that can bring together all the lifestyle brands Australian consumers love, along with many that they don’t yet know.”

“Australians don’t buy things, they buy the memories and moments that those things will bring. And so, by layering emotion into the shopping process and giving people ideas and inspiration via onsite content, The Myer Market creates both an on-site and off-site ecosystem that keeps people coming back and draws people in,” the website stated.

“Customers can rate their favourite sellers and brands through in-built seller ratings, ensuring that quality and service expectations are continually met.”  

The site also provides a lucrative means to derive incremental revenue and customer data, the retailer said in its strategy update in November.

Melbourne tableware brand, Made in Japan, is one of the sellers signed up to The Myer Market. Its representative, Jack McDonald, said being asked to be part of the marketplace was a good opportunity.

“Having the ability to showcase our unique products to the huge Myer consumer base is something we’re really excited about.”

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+:google.com/+CmoAu

 

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

More Videos

More Brand Posts

Enterprisetalk

Mark

CMO's top 10 martech stories for the week - 9 June

Read more

Great e-commerce article!

Vadim Frost

CMO’s State of CX Leadership 2022 report finds the CX striving to align to business outcomes

Read more

Are you searching something related to Lottery and Lottery App then Agnito Technologies can be a help for you Agnito comes out as a true ...

jackson13

The Lottery Office CEO details journey into next-gen cross-channel campaign orchestration

Read more

Thorough testing and quality assurance are required for a bug-free Lottery Platform. I'm looking forward to dependability.

Ella Hall

The Lottery Office CEO details journey into next-gen cross-channel campaign orchestration

Read more

Great Sharing thoughts.It is really helps to define marketing strategies. After all good digital marketing plan leads to brand awareness...

Paul F

Driving digital marketing effectiveness

Read more

Blog Posts

Marketing prowess versus the enigma of the metaverse

Flash back to the classic film, Willy Wonka and the Chocolate Factory. Television-obsessed Mike insists on becoming the first person to be ‘sent by Wonkavision’, dematerialising on one end, pixel by pixel, and materialising in another space. His cinematic dreams are realised thanks to rash decisions as he is shrunken down to fit the digital universe, followed by a trip to the taffy puller to return to normal size.

Liz Miller

VP, Constellation Research

Why Excellent Leadership Begins with Vertical Growth

Why is it there is no shortage of leadership development materials, yet outstanding leadership is so rare? Despite having access to so many leadership principles, tools, systems and processes, why is it so hard to develop and improve as a leader?

Michael Bunting

Author, leadership expert

More than money talks in sports sponsorship

As a nation united by sport, brands are beginning to learn money alone won’t talk without aligned values and action. If recent events with major leagues and their players have shown us anything, it’s the next generation of athletes are standing by what they believe in – and they won’t let their values be superseded by money.

Simone Waugh

Managing Director, Publicis Queensland

Sign in