Myer’s journey to expand their range beyond physical and capital restraints.
An iconic Australian brand, Myer partnered with Marketplacer to create the curated lifestyle destination The Myer Market, enabling Myer to grow their range endlessly without the need to hold or ship extra stock.
In a fiercely competitive retail market, Myer faced the ongoing challenge of growing market share while overcoming the constraints of their physical stores, capital and inventory.
Wanting to increase traffic to their online store, Myer identified a potential growth opportunity in creating a modern eCommerce platform to help broaden the direction of their traditional business, while still retaining and supporting their 6.5 million loyal, fashion-oriented MYER One members.
Myer knew there was an opportunity to expand their online offering by listing products from third-party sellers, thereby extending their range beyond their physical and online retail stores and effectively creating an endless aisle of products carefully curated for the Myer customer.
Realising that Marketplacer was a good fit for their organisation, Myer enlisted Marketplacer to help create The Myer Market, offering a curated range of lifestyle products selected to appeal to the Myer customer and offered through one online destination. The range features boutique brands, sellers and products beyond those traditionally stocked in the department stores and on the Myer.com website while still complementing the Myer brand profile.
Marketplacer’s platform granted Myer the all-important ability to dropship from third-party sellers, thereby eliminating warehousing limitations and creating a virtually endless aisle of Myer-curated products.
Because the platform ensures easy onboarding of sellers with custom-build API connections, as well as the simple uploading of products through our custom product management system (PIM), the prospect was also appealing to the third-party sellers approached by Myer.
A significant point of difference for The Myer Market comes from its ‘click & collect’ marketplace functionality. Customers can purchase anything on the marketplace and pick up from any Myer store with the option of returning products to any Myer store – an appealing and valuable option for the Myer customer.
And by leveraging its loyalty program, The Myer Market offers increased benefits to MYER One members who can now collect points on purchases beyond Myer stock, from international and boutique sellers.
The Myer Market success
By introducing The Myer Market, Myer has seen exceptional growth within the first 11 months of operation. The brand has been able to scale and extend well beyond their department stores and online website, with limitless potential. Visitors to and transactions on The Myer Market site have grown consistently by some 30% month-on-month for the past quarter.
Major partnerships have been struck with key sellers such as Booktopia and Lorna Jane. The brand now carries unlimited potential to add a curated range of sellers, categories and products – and so far has welcomed the addition of 200+ sellers, four incremental categories and 60,000 new product listings.
“What The Myer Market has been able to achieve in this short period is very encouraging.
Myer has moved into this new space and it’s exciting to see consumers respond in such a positive way; a great validation that there is real strength in the Myer brand and consumers see significant value in our award-winning loyalty program and the scale of our physical store network.”
– Mark Cripsey, COO, Myer