An omnichannel strategy isn’t optional in today’s competitive eCommerce landscape. That’s why leading eCommerce companies need to explore every marketplace available to them.
So, what’s all the buzz when it comes to Mirakl?
Mirakl is the only marketplace SaaS platform that empowers both B2B and B2C organizations to launch and grow an international marketplace at scale. Mirakl is used by over 300 leading companies, making it the world’s most widely adopted enterprise marketplace vendor. Their platform allows companies to build their marketplace by linking to third-party sellers.
Marketplace platforms provide eCommerce brands with agility and flexibility. With this capability, brands can constantly expand their product selections to keep up with the latest shopping trends and effectively enhance customer satisfaction. In fact, platform companies are 2x as profitable and valuable as established companies. What’s more, these companies also grow at 2x the rate!
In this post, we’ll go over if and when a brand should build its marketplace with Mirakl. We’ll also discuss the industries and businesses that have successfully integrated with them, how their platform works, and how Highstreet.io can help your brand successfully integrate with their platform.
When Should Your Company Consider Building a Proprietary Marketplace with Mirakl?
Building a marketplace platform helps both B2B and B2C companies achieve multiple benefits, including:
- Additional revenue streams
- Increased brand awareness
- Access to insightful and valuable data
- Increased automation and lower overhead
- Improved customer experience, engagement, and loyalty
- Increased website traffic
Will a marketplace provide double-sided economic value in the economy and your company’s industry?
Think about the desirability of your company to your target industry and market. Assess the key socio-economic factors that affect the population in your area of operation. Factors include societal factors such as the presence of a digital divide, the state of digital adoption, the maturity of logistical infrastructure for moving goods, the level of supplier concentration, the level of buyer concentration, the level of supply chain complexity, the level of data maturity, the level of existing marketplace maturity, and regulatory constraints.
Is there a clear value for your company or the border society/industry?
What are the implications to your core business? Think about viability to drive value for your company. Assess marketplace profitability, strategic expansion benefits, opportunities for environmental, social, or governance change, applicable regulation effects, brand impact, channel cannibalization, potential value chain partner conflict, and internal support.
Does your company have the capabilities to be the operator of a marketplace?
Think about whether or not a marketplace is feasible to operate successfully. Assess existing partnerships that could accelerate marketplace onboarding, access to data for setting up a marketplace, access to technology to support development and maintenance of a marketplace, access to talent with a digital culture mindset, access to capital to invest into a marketplace, and access to logistics and supply chain management.
It’s also important to consider the following growing trends that could impact the success of your marketplace:
- Businesses with value-added services
- Business models focused on niche markets
- Business models focused on society at the core
- Adoption of localized and alternative payment methods
- Building trust through technology and partners
- Increased regulation and intermediate liability
What Industries/Businesses have Integrated with Mirakl to Build Proprietary Marketplaces?
Mirakl makes it incredibly easy for anyone to build an enterprise-grade eCommerce marketplace.
Their marketplace integration is used by both large and niche brands across a variety of industries around the world, including:
- Toyota Material Handling (Industrial Equipment)
- Best Buy (Electronics)
- Hewlett Packard Enterprise (Technology and Electronics)
- Kroger (Grocery)
- Carrefour (Food Retail)
- Siemens Mobility (Mobility)
- Urban Outfitters Group (Fashion)
- E.Leclerc (Food Retail)
- Conrad (Electronics)
- El Corte Ingles (Department Store)
- H&M Home (Home Furniture)
- Coperama (Hospitality)
- Premier (Healthcare)
Understanding the Mirakl API & Platform
Mirakl’s marketplace platform is secure, customizable, scalable, and easy to use. Mirakl’s modular platform architecture means that it is equipped for the service marketplace, B2C marketplace, B2B marketplace, and catalog managers.
Their platform is built on application programming interfaces (APIs) that seamlessly integrate with your company’s existing e-commerce technology ecosystem. APIs also speed up your time-to-market due to integration with eCommerce solutions. It is also highly available and currently handles more than 250 million API calls per day!
What does that mean for sellers?
- You can quickly create your own, proprietary marketplace and onboard other sellers
- You can sell on a marketplace that uses the Mirakl platform, giving you direct exposure to all Mirakl marketplaces where your products are suitable
How Highstreet.io Can Help with Your Mirakl Marketplace Integration
Highstreet.io is a trusted feed management partner that offers a SaaS data feed platform and highly technical integration services for Mirakl. Our expert data consultants structure, optimize, and connect your product data and inventory to Mirakl in real-time.
Whether you want to become a Mirakl Platform Operator or connect with other marketplaces, including those built on the Mirakl platform, we have everything retailers need to reach more customers and simplify the marketplace and product integration processes.
Highstreet.io takes care of all your platform integration needs with Mirakl, including:
- Multi-Format Product Data Generation Management
- Product Listing Uploading and Synchronization
- Sales, Tax, and Shipping Data Integration
- Stock System Integration
- Order Management
- Invoice Uploading
Stand ahead of your competitors by connecting to millions of potential customers with a Mirakl Marketplace Integration.