PARIS, BOSTON, LONDON, MUNICH , Feb. 19, 2019 (GLOBE NEWSWIRE) -- Mirakl, the leading global marketplace solutions provider, announced today the findings of a newly commissioned comprehensive study conducted by Forrester Consulting on behalf of Mirakl. The Total Economic Impact study, which sought to provide a framework to evaluate the financial impact of a Mirakl Marketplace, found that Mirakl Marketplaces can deliver a significant 162% return on investment within three years and drive revenue up by $412 million over three years. Additionally the study found that Mirakl customers experienced an average 15% increase in average order size and a 7% increase in physical store sales.
As part of the study, Forrester interviewed five leading retailers who implemented Mirakl and expanded their eCommerce capabilities with an online marketplace. Prior to using Mirakl, each of the customers offered products they purchased, placed in inventory, and shipped to ordering buyers. Some also had physical stores which offered the same products. For these customers, moving to an online marketplace, with a technology partner, represented a shift in business strategy with significant return on investment.
According to a customer interviewed for this study from a multinational consumer electronics retailer: “We started to build out a marketplace on our own by developing partnerships for products that we viewed as complementary to our traditional categories. The partnerships took a huge amount of energy, and we didn’t achieve our growth goals. When we looked at a marketplace partner [Mirakl], we saw a simpler and more cost- effective approach to expanding our offerings dramatically.”
Key findings from the study include
Quantitative Findings:
Qualitative Findings:
A customer interviewed for the study, from a national retailer, shared: “In the first year working with Mirakl, our gross merchandise value (GMV) increased 300%. Some of our product groups have experienced an increase in market share of 400 basis points.”
“The impact of Mirakl Marketplaces is exactly why we are continuing to experience such explosive growth. Last year alone, we grew 80% year-over-year and launched a record number of marketplaces,” said Philippe Corrot CEO of Mirakl. “We’re thankful to our customers for sharing their success, so we can help many more businesses experience the impact of Mirakl.”
To read the full findings of the study please visit: https://info.mirakl.com/forrester-tei-marketplace-platform
For more information about Mirakl and the Mirakl Marketplace Platform, please visit www.mirakl.com.
About Mirakl
Mirakl is powering the platform economy by providing the technology and partner ecosystem needed to launch an eCommerce marketplace. With the Mirakl Marketplace Platform, both B2B and B2C businesses can offer more, learn more, and sell more: increase the number of products available for buyers, grow the lifetime value of customers, and anticipate buyer needs and preferences. Committed to ease of use, The Mirakl Marketplace Platform is a turn-key solution that’s easy to integrate into any eCommerce platform and Mirakl Catalog Manager makes managing product data quality simple at marketplace scale. Mirakl’s unmatched marketplace expertise is key to customers’ success. Mirakl employs a team of 60+ marketplace operators who help clients adopt best practices and client success provides critical long-term strategic guidance. Over 200 customers in 40 countries trust Mirakl’s proven technology and expertise including Urban Outfitters, Hewlett Packard Enterprise, Best Buy Canada, Carrefour, Siemens, Toyota Material Handling, and Walmart Mexico. For more information: www.mirakl.com
Media Contacts:
Maya Pattison
Senior Director Marketing, Americas
maya.pattison@mirakl.com
+1-844-264-7255
Christel Toriello
Directrice Marketing EMEA
christel.toriello@mirakl.com
+33 1 72 31 62 00