Macy’s is about to join Walmart and Amazon, and upcoming year they are going to launch a third-party marketplace. Their digital business targets to generate $10 billion in sales by 2023, and a new marketplace is expected to help achieve this goal.
Macy’s will carefully select third-party sellers, and they will be allowed to offer their products on www.macys.com and www.bloomingdales.com. This move should vastly expand the company’s assortment to new brands and categories on top of what is already available there.
This step will be possible thanks to Macy’s new partnership with Mirakl, a marketplace technology company, which will run the platform. Mirakl is supposed to deliver all the tools needed by merchants to monitor and grow their businesses with Macy’s.
On top of that, Macy’s will delay closing their 125 local stores, which was announced in 2020 as a part of the new strategy. It turned out that physical stores are important in their approach.