Myer Quietly Launches Its New Online Retail Platform

Myer has just released its own shopping platform that aims to provide its customers with a new online shopping experience. The Myer Market is a marketplace that allows third-party sellers to use their platform for their business.

Check Out These Resources

• Do you need a business bank account for your online business? Take a look at our review of the five best bank accounts for sellers, some of which are free with no minimum balance or deposits. ^[sponsored]
• Boost your social media engagement with Publer. Learn how you can save time writing engaging content faster with AI. ^[sponsored]
• Could your online business use capital for growth? Here is a primer on revenue-based loans, and how they work.

It’s a mix of eBay’s branded stores and Amazon’s marketplace. Myer’s soft launch happened on Nov.23, a month after the department store released a statement about its plan to release an online retail platform.

The timing strongly suggests that it’s the company’s way of making sure that it has an even ground with Amazon. The Myers Market lets third-party retailers sell their merchandises on the platform in exchange for a listing charge and sales commission.

The retail company has established at least 14 online marketplaces, including Bike Exchange, which will provide the company with customer-data analytics.

Myers has been in a financial crisis, with news about its profit dropping by 80 percent floating across every media outlet. Creating an online marketplace that can compete with Amazon in Australia is a good way to capture new customers.

Joining the eCommerce industry

“Our practical experience, our software and our investment in a new data-analytics platform means we can provide suppliers with deep insights into customer behaviours and needs,” Jason Wyatt, co-founder and chief executive of Marketplacer.

Mr. Wyatt told The New Daily that The Myer Market had soft launched to give them a chance to test their marketplace on a few number of users. He added that they’re only expecting a very low subset of user traffic in the first two days.

Mr. Wyatt also added that at least 65 sellers, 300 brands, and 10,000 merchandises were already added to the site and a few more will soon follow.

Myer’s decision to join the eCommerce Industry is seen as an attempt to compete with the retail giant Amazon. Although Mr. Wyatt denied the allegations, stating that they’ve been in talks with Myer long before Amazon announced its plans to enter the Australian market.

How do you feel about Myer’s own online shopping platform? Share your thoughts down below.