Myer Takes On Amazon With New Online Marketplace
In a bid to compete with Amazon Australia, Myer has launched its own ‘premium’ online shopping portal, ‘Myer Market’, set to offer a range of items – from ‘home and living’ to consumer electronics.
Heralded one of Australia’s most reputed traditional retailers, Myer is currently inviting interested sellers to register their interest (here). The new ‘Myer Market’ will operate as a sub-domain alongside myer.com.au
Myer’s new online marketplace will take on e-commerce behemoth, Amazon, as a more premium online shopping platform, featuring a “carefully curated but extended [product] range”.
The retailer will extend its ‘No Regrets’ Returns Policy, meaning customer returns from the online store can be accepted at Myer’s retail outlets.
Where Myer is the direct seller, a standard delivery window of between 4 – 7 business days is being offered nationally (excluding some regional areas).
Sellers on the Myer Market will pay a monthly membership fee plus a commission on all sales. Myer Market sellers are also responsible for fulfilling and sending purchases, however, returns can be facilitated through Myer’s store network. Excluding bulky items, Myer will return the items back to sellers at no additional charge.
The ‘Myer Market’ will be developed in conjunction with Marketplacer, first launched as a beta, before refining following customer and supplier feedback.
Co-Founder and CEO of Marketplacer, Jason Wyatt, affirms that the Myer Market will help innovate Australia’s retail industry:
“We anticipate that the launch of The Myer Market will really raise the bar in Australia when it comes to providing a broad and curated product and service range and a rewarding shopping experience”
“Our practical experience, our software and our investment in a new data analytics platform means we can provide suppliers with deep insights into customer behaviours and needs. In today’s retail environment this is a critical part of fine-tuning range and increasing sales conversion rates”.
Mark Crispey, Myer Chief Digital and Data Officer, agrees that an evolving marriage of physical and digital is a part of the retailer’s innovation strategy:
“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”.
“Some of the world’s fastest growing companies are marketplaces; selling products and services without owning the asset”
“This is a wonderful opportunity for Australian brands who are seeking new distribution avenues to engage directly with customers around their brand stories, whilst also benefiting from Myer’s store network and the market leading MYER one loyalty program”.
Interested sellers need to submit their interest and receive approval from Myer, where the retailer states it will aid with “pricing and integration options”.
Myer states its new online marketplace will receive an “extensive marketing support campaign”.