The Michael’s Company is launching a new online marketplace, the craft store announced on Feb. 27. The marketplace will list more than 750,000 new items from third-party sellers.
Michael’s is No. 116 in the 2022 Digital Commerce 360 Top 1000 ranking.
New additions for sale
The new online marketplace will increase options available to shoppers from 250,000 items to more than 1 million, Michael’s said in a press release.
“By more than quadrupling our online assortment across categories including candle and soap making, leather work and more, Michaels will ensure every customer can find what they need to bring their creative dreams to life no matter their craft,” executive vice president of marketing and ecommerce Heather Bennet said in a statement.
Customers will be able to purchase supplies across crafting categories directly from Michael’s alongside third-party sellers.
Michael’s is in the middle of a digital push
The arts and crafts retailer is in the midst of a “digital transformation,” per the press release. The new online marketplace will move the company further in that direction. The goal of the digital push is to “be the destination for all creatives to get inspired, learn, shop and create,” Bennet said.
Michael’s bumped up online offerings in 2020 during the COVID-19 pandemic, as did many other retailers. Ecommerce sales were up 350% year over year in Q2 of 2020 as the company introduced curbside pickup, same-day delivery, and shipping from stores. Michael’s is privately held and does not share more recent specific sales data, but the company said it has tens of millions of website visitors each month.
Making it easy for sellers
Potential sellers can apply with Michael’s to sell products across more than a dozen categories. Sellers will pay a standard commission rate on sales rather than subscription or listing fees favored by some marketplaces. The retailer will give sellers access to a full-service portal that integrates across listings, shipping, and other parts of the business.
Sellers will have access to Amazon fulfillment centers and must follow Michael’s stipulations about order acceptance windows and shipping, per the marketplace FAQ.
Third-party marketplaces grow across retail
Michael’s is following in the footsteps of other prominent retail chains with third-party online marketplaces.
In Sept. 2022, Macy’s launched its marketplace with 400 additional brands across more than 20 product categories. Six months after the launch, Macy’s CEO Jeff Gennete told investors the marketplace attracted new, younger customers and increased average order values.
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