Shop Premium Outlets Launches Retail Media Network, Powered by Mirakl Ads, to Accelerate Marketplace Growth
Marketplace-ready Retail Media Solution Enables Personalized Advertising to Deliver a Curated Customer Experience
BOSTON – March 12, 2024 – Shop Premium Outlets, the marketplace bringing the Simon experience for premium and luxury online for global shoppers, today announced the launch of its retail media network powered by Mirakl Ads. Building on Shop Premium Outlets’ successful on-sale and outlet marketplace, the new retail media network offers Shop Premium Outlets sellers a cost-effective channel to boost visibility and sales, while delivering personalized, curated advertisements to the millions of online shoppers that visit Shop Premium Outlets annually. Shop Premium Outlets sellers can begin advertising on the retail media network in minutes using Mirakl’s AI-powered sponsored product ads.
According to research from Insider Intelligence, advertisers are expected to spend more than $55 billion on retail media campaigns in the United States in 2024. That figure is expected to more than double over the next five years, with total spending reaching $106 billion by 2027. This spending is being driven by twin forces: retailers are seeking more profitable eCommerce revenue streams to boost financial performance, and brands need more cost-effective channels where they can leverage first-party transactional data for targeting and measurement.
Curation at Scale: Expanded Marketplace Experience
Shop Premium Outlets offers customers an extensive curated assortment of premium and luxury items at affordable prices from more than 300 curated sellers and brands like Adidas, Coach Outlet, Hugo Boss and Mulberry. By incorporating Mirakl Ads into its marketplace strategy, Shop Premium Outlets is empowering marketplace sellers to accelerate growth, while maintaining this curated, personalized shopping experience, leveraging proprietary AI to optimize ads for relevance and performance.
“The launch of our new retail media network demonstrates Shop Premium Outlets’ commitment to an exceptional experience, not just for our customers, but for the hundreds of curated brands we partner with on our eCommerce marketplace,” said Neel Grover, CEO of Shop Premium Outlets. “Our retail media solution will empower marketplace sellers to serve advertisements directly to their most relevant audiences, delivering outsized returns on their marketing investments. Retail media backed by first-party data is proven to increase sales, and Mirakl Ads provides the marketplace-ready technology that will ensure our partners see immediate value from their retail media investments.”
Mirakl Ads, Seamless Retail Media Advertising Solution for Marketplace Businesses
Mirakl Ads, the first retail media solution optimized for both first-party and marketplace products, offers an instant, seamless solution to operators and sellers on the Mirakl Marketplace Platform. Through Mirakl Ads, advertisers can easily deploy data-backed campaigns that deliver results through the power of AI. Marketplace sellers can enroll instantly, and choose to automatically fund ad spend using their balance within the Mirakl Marketplace Platform.
“Shop Premium Outlets has seen incredible success by partnering with some of the world’s best-known brands in fashion and luxury goods,” said Octavie Gosselin, Vice President, Mirakl Ads. “The launch of this marketplace-ready retail media advertising solution enables Shop Premium Outlets to build on existing customer relationships by serving relevant, personalized advertising to deliver a curated customer experience. This is exactly the kind of success that Mirakl Ads was built to enable.”
About Shop Premium Outlets
Shop Premium Outlets works directly with hundreds of beloved premium and luxury brands to sell their sale and outlet clothing, accessories, home goods, and other luxury products, combining the high-value shopping experience with the convenience of eCommerce. Third-party sellers that join the Shop Premium Outlets marketplace will gain instant access to the platform’s new retail media network, powered by Mirakl Ads. To become a partner brand, visit Shop Premium Outlets’ brand application page.
About Mirakl
Mirakl is the global leader in platform business innovation. Mirakl's suite of solutions provides enterprises with a transformative way to drive significant growth and efficiency in their online business. Since 2012, Mirakl has been pioneering the platform economy, empowering retail and B2B enterprises with the most advanced, secure and scalable technology to digitize and expand product assortment through marketplace and dropship, improve efficiency in supplier catalog management and payments, personalize shopping experiences, and boost profits through retail media. Mirakl is trusted by 400+ industry-leading businesses worldwide. For more information: www.mirakl.com
Media Contacts:
Sara Matasci - Mirakl
+1-857-756-2037