Platform drives marketplace adoption and higher profit margin for leading global retailers and B2B organizations
The close of 2016 marked the 16th consecutive quarter of customer and revenue growth for Mirakl. In addition, Mirakl experienced:
- 77% year-over-year customer count increase, with 110 customers operating marketplaces in over 40 countries and 20,000 sellers on the Mirakl Marketplace Platform.
- 100% year-over-year bookings increase.
- Most notably, customers who deployed Mirakl’s Marketplace Platform in both 2015 and 2016 experienced 500% year-over-year revenue growth.
Mirakl continues to see record revenue and profit margin growth for customers who continue to invest in their marketplace strategy, add more sellers and expand their offerings.
Fueling Mirakl’s growth is the increased understanding by retail and B2B executives of the marketplace model and its importance to their omni-channel customer experience. While giants like Amazon, Alibaba and eBay have captured the lion’s share of eCommerce growth, Mirakl customers such as Halfords have seen the power of the marketplace model and deploying it as part of their strategy.
“Digital commerce has a profound effect on in-store experiences,” said Régis Schultz, CEO, Monoprix, and former CEO, Darty. “Beyond the revenue contribution, I see the need to embrace the dramatic impact the online channel has on consumer expectations offline. The marketplace is a strategic investment in any omni-channel effort because it delivers incremental free traffic, it adds more customer value creating an endless aisle and fast introduction of new products which can then be brought into your owned inventory, and the marketplace is highly profitable which helps absorb the fixed costs of eCommerce – creating a revenue stream for innovation and improving the customer experience. The Mirakl team and solution have been exceptionally valuable – thanks to their unmatched expertise and innovative platform.”
Underpinning the success of these marketplace strategies is the Mirakl Marketplace Platform that saw significant product innovation in 2016, including:
- Omni-channel enablement features for operators. Mirakl launched two core features – integration with click and collect, enabling operators to use the expanded online portfolio to drive in-store foot traffic, and pay on delivery in-store – further encouraging buyers to collect goods in-store.
- Easy internationalization for operators. Mirakl launched comprehensive internationalization features including pricing and shipping management, and international seller quality assurance standards, allowing operators to easily enter new territories without the cost and overhead of establishing a local presence.
- Comprehensive promotion and pricing tools for sellers. Mirakl launched a promotion engine that gives sellers greater ability to showcase offers and control price, such as amount reduction, percentage reduction, and free item offers.
- Streamlined onboarding experience for sellers. Already a core strength of the Mirakl platform, Mirakl launched several enhancements to the Mirakl Catalog Integrator. New features include more formats for catalog import, auto-mapping for categories and stock synchronisation between multiple shops.
- Complex order and quote management for B2B manufacturers and distributors. Mirakl launched a quotation system that allows custom quotes to be provided at scale. This embraces the traditional B2B selling model of providing highly customized quotes, and order management is streamlined with invoice and credit management features.
To ensure customer success, Mirakl’s invested significantly in its alliance programme, with over 50 partners involved in Mirakl’s BLINK partner programme. Highlights include the joint launch of a Marketplace-as-a-Service offering with Accenture Digital in France, the release of Mirakl’s certified connector for SAP Hybris Commerce, and the announcement of a strategic partnership with ChannelAdvisor.
Additionally, Mirakl was recognised by Forrester Research as one of 20 Startups All Retail eBusiness Executives Should Know in 2016. To support this massive growth, Mirakl doubled its employee headcount to 105 total in 2016. Strategic executive hires included Jessica Iandiorio, SVP, Global Marketing, and Art Boyd, VP, Global Channels and Alliances. Mirakl also bolstered its advisory board with the addition of top retail industry veterans Sucharita Mulpuru, Chief Retail Strategist, Shoptalk, and Ed Coke, SVP, DigitasLBi.
“Today, companies need to become platform businesses – building networks of buyers and sellers – to earn new digital revenue,” said Philippe Corrot, CEO, Mirakl. “At Mirakl, we believe in a world where every retailer and brand can build and operate networks, capitalising on their core DNA and brand value, to bring even more value to their customers. Our vision is to provide companies with a platform to help build networks of sellers, easily connecting more customers with more products in a highly profitable way. We believe deploying the marketplace model gives customers a new path to profitability and future-proofs their businesses. We’re so proud of our growth after only five years in business, and our critical investments in 2016 poise us for massive growth in 2017.”
For more information about Mirakl and the Mirakl Marketplace Platform, please visit www.mirakl.com.
Mirakl gives retailers and brands the ability to quickly launch a new source of revenue with their own online marketplace. The marketplace model allows companies to increase customer value by providing more products, at better prices, with first class quality; creating more opportunities to build loyalty. The Mirakl Marketplace Platform automates the hard things: seller onboarding, service quality control, and order distribution; on an API-based solution that’s modular and easy to integrate. Over 100 customers operating marketplaces in 40 countries trust Mirakl’s proven expertise and technology including Best Buy Canada, Carrefour, Condé Nast, Darty, Galeries Lafayette and Halfords. Founded in 2012, Mirakl helps companies provide a better customer experience as part of their omni-channel strategy. For more information: www.mirakl.com