Mirakl Surpasses $1 Billion in Monthly Gross Merchandise Value

This year’s Cyber Week performance puts retailers in one of two categories: the platform businesses, and the rest. According to Salesforce data, overall eCommerce sales grew by just 5% globally during Cyber Week 2023. But data from marketplace and dropship platforms powered by Mirakl are telling a different story, with GMV growing by 41% year-over-year, outperforming eCommerce by a remarkable 8.2x. In 2023, monthly GMV running through Mirakl’s platform surpassed the $1 billion mark in November, reinforcing the unstoppable growth of platform business models – and demonstrating the scale and flexibility of the Mirakl platform. At the peak of Cyber Week sales, Mirakl handled 65 orders per second and scaled flawlessly, maintaining 100% uptime even as it received 2.5 billion API calls (+56% over 2022) and 34 billion product updates (+48% over 2022).

Generative AI’s Impact On The Ecommerce Industry

When was your last online shopping trip, and how did it go? For consumers, it’s becoming arguably tougher to resist addiction to ecommerce shopping in the game-changer era of AI. Why leave home for the physical-shopping world if you can do considerably more online — plus be helpfully guided in a variety of ways — by just sitting down with your smartphone or at your desk? Generative AI started slowly reshaping the ecommerce landscape a while ago. Forward-acting ecommerce companies like Amazon have been integrating it to enhance and fine-tune their shopper experiences, both on websites and in apps, with the benefit of wildly driving up their conversions and sales as a result. Other ecommerce brands are just getting their feet wet with exploring AI-related features, but the momentum is only building.

Second-hand Shopping a $1-Billion-plus Business For Amazon In Europe

Consumer demand for refurbished and pre-owned goods in Britain and across Europe has created a billion pound ($1.3 billion) business for Amazon (AMZN.O), its UK boss said. Many retailers and manufacturers expect that trend to continue as shoppers, hit by rising prices and borrowing costs, look to save cash and buy more sustainably. John Boumphrey, Amazon’s UK Country Manager, told reporters that in the UK alone the online retail giant last year sold more than 4 million used or refurbished products at a discount.In the first nine months of 2023, Amazon’s sales of second-hand goods in the UK increased by more than 15% on the same period last year, he added. Amazon UK’s total revenue in 2022 was 24 billion pounds. “Customers are telling us that they’re shopping second hand items to save money in the ongoing cost of living crisis and because they want to shop more sustainably,” Boumphrey told reporters.

Entering The Online Sales Marketplace: A Comprehensive Guide

So, you’ve decided to take your business online and dive into the world of online sales. Congratulations! You’ve just made a clever move that could potentially revolutionize your brand. But wait, isn’t it a bit overwhelming to enter the vast, ever-evolving, and sometimes bewildering realm of the online marketplace? Don’t fret, my friend. In this comprehensive guide, we’ll be your trusty companion, holding your hand through the maze of online sales, and helping you navigate the twists and turns with ease. Whether you’re a seasoned entrepreneur or completely new to this game, together, we’ll unravel the secrets, strategies, and trendy tricks that’ll take your online sales to soaring heights. So, buckle up, sharpen your virtual pencil, and let’s embark on this exciting digital adventure!

How To Build A Successful Two-Sided Marketplace

A two-sided marketplace is an online platform that connects buyers and sellers, offering a unique solution to various problems in different industries. Two-sided marketplace companies are becoming increasingly popular, on both the product side (Amazon Marketplace and eBay) and the service side (Airbnb and Uber). Building a successful two-sided marketplace requires a combination of careful planning, research, and execution. By focusing on user experience, maintaining a strong community, keeping your marketplace safe and secure, staying ahead of the competition, managing your finances, and implementing a strong marketing strategy, you can create a two-sided market that provides value to both buyers and sellers and sets you apart from your competition.

Next Generation Service Marketplaces Take Trust To A New Level

Service marketplaces are on the rise and provide us better access to the service economy. But as service marketplaces are poised to enter more complex industries and services, the level of trust required to establish relationships is higher, and so is the need to create a coherent customer experience and added value for both the supply and demand side. We live in an era where we can contact any person or company on earth from our smartphone. We can find a designer in Oslo who creates beautiful crafts and order one of their pieces, knowing that it will be delivered all the way to London. We can purchase SEO services from a professional in Barcelona and have our company’s video created by a freelancer in New York.

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