Boston – August 28, 2019 – Mirakl, the leading global marketplace solutions provider, today announced its inclusion in Gartner’s Hype Cycle for Digital Commerce, 20191 as a Sample Vendor for marketplace operation applications within the Enterprise Marketplace.
According to Gartner, “By 2023, 15% of medium- to high-gross-merchandise-value digital commerce organizations will have deployed their own marketplaces, thereby creating an entirely new digital ecosystem.”2 In the Hype Cycle for Digital Commerce, 2019 Gartner explains, “The enterprise marketplace business model is attracting an increasing amount of attention from brands, retailers and B2B online sellers, especially in verticals such as manufacturing, healthcare, chemical, life science, retail and CPG. It is gaining momentum as more organizations try to transform their business models by creating digital business ecosystems.”
The Enterprise Marketplace business model has a “high” benefit rating in the 2019 Hype Cycle for Digital Commerce. The report adds, “When done right, there are many benefits. It helps enterprises enrich product offerings, reduce selling or procurement costs, test new items or categories before adding them to the product catalog, and improve the customer experience by making the process more transparent and efficient. Marketplaces can also be integrated to buyers’ internal procurement systems, thus offering buyers a single source for many products.”
Further, a Total Economic Impact report conducted by Forrester Consulting 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. The study also found that Mirakl customers experienced a 15% increase in average order size and a 7% increase in physical store sales.
Mirakl’s innovative, market-leading marketplace technology has helped more than 200 companies globally. Mirakl counts many notable B2C companies among its customers, including Walmart (Mexico), Best Buy (Canada), and Urban Outfitters and a diverse set of B2B clients across a range of use cases including Toyota Material Handling and Siemens.
“Last year, buyers spent $1.8 trillion globally on online marketplaces. We created Mirakl to help these companies capitalize on this significant opportunity, and have seen first-hand the dramatic impact of a marketplace for our customers, ” said Adrien Nussenbaum, co-founder and U.S. CEO of Mirakl. “We are thrilled to have been included as a Sample Vendor for marketplace operation applications within the Enterprise Marketplace, and that the Enterprise Marketplace was awarded a high benefit rating in Gartner’s Hype Cycle for Digital Commerce, 2019. To us, this is yet another sign that now is the time to seize the marketplace opportunity.”
1Gartner, Hype Cycle for Digital Commerce, 2019, Dayna Ford, 5 August 2019 (Gartner subscribers may access the report)
2Gartner, Create Enterprise Marketplaces to Accelerate Digital Business, Sandy Shen, Jason Daigler, 5 July 2019 (Gartner subscribers may access the report)
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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Mirakl is powering the platform economy by providing the technology, expertise, 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 experts 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 USA, Inc. and Walmart Mexico. For more information: www.mirakl.com
Senior Director Marketing, Americas