Marketplace Pulse’s Post

Target and Shopify’s announced a win-win partnership. Target will allow Shopify to add sellers to their marketplace. ⭐️Benefit for Target: 3P marketplaces tend to be lucrative (retailers get a cut of sellers’ profits and can sell ads or fulfillment services.) It also importantly gives the customer greater selection, which increases spend & LTV! Their comps have been trending negative and management is under scrutiny. 🎯Target Plus is extremely behind here w/1k sellers vs. 135k at Walmart and 2M on Amazon (estimates by Marketplace Pulse, a e-commerce research tracker.) ⭐️Benefit for Shopify. They are the platform that helps their brands acheive greater scale. Target can serve as upper funnel (discovery) for smaller brands, and these customers can later purchase directly from their .com 💯“If you’re selling today, you need to be everywhere potential customers are, period. We’re constantly unlocking opportunities for our merchants to reach new customers wherever they shop.” - Shopify President Harley Finkelstein https://lnkd.in/gKhAEGhQ #futureofcx #futureofretail #futureofcommerce #marketplaces #digitaladvertising #ecommerce #businessnews #technology #retail

#Shopify is Winning! I've watched Shopify start as a skeptical competitor to Magento, leveraging user apps that were costly and unvetted, to becoming the amazingly forward thinking and value adding #ecommerce solution for small businesses, entrepreneurs, and enterprise clients alike. Being an Ecom OG, the ecosystem I have watched them build over the last decade + is exactly what I wished would have been available to businesses running ecommerce stores back in 2014. From syndication, to advertising, and the many optimizations - the connectivity is undeniable. I like this #Target play, and I like that Target needs Shopify to create more meaningful connections to brands and small businesses making an impact. https://lnkd.in/giVMGSFF

Shopify Target team up is a masterclass in collaboration. Here is why... Target has joined hands with Shopify, the leading global commerce platform, to enrich your online shopping experience on Target Plus - the retailer's 3rd party online marketplace. What does this mean for E-Commerce: - New partnership allows Shopify merchants to sell items on Target's third-party marketplace, Target Plus. - Target Plus was launched in 2019 to help consumers discover new products from third-party retailers, which currently hosts 1,200 sellers. - The announcement of the partnership follows a slump in Target's quarterly results showing a 3.7% decline in YOY comparable sales in q1 2024 This means selected Shopify merchants will even feature in Target's physical stores - A first for any mass retailer. a merging of the digital and physical. Brilliant move, isn't it? 🙌 Don't forget that you can still enjoy all of your favorite Target perks while shopping Target Plus brands on Target .com, such as the 5% .... you get the point. Here's to fruitful collaborations and successful partnerships. 🥂 Cheers!" #TargetShopifyPartnership #MasterclassInCollaboration #RetailRevolution https://lnkd.in/dHMkYscF

Target is partnering with Shopify to add new and trendy brands to its website through Target Plus, its third-party marketplace. The partnership aims to help Target discover popular items quickly and make them available online for shoppers. Target has been struggling with sales growth and e-commerce performance, with digital sales growing only 1.4% in the first quarter. Target Plus has over 1,200 sellers and offers more than 2 million products from various brands across different categories. The revenue from Target's third-party marketplace is included in "other revenue," which accounted for less than 2% of its total revenue. Target Plus is considered one of the fastest-growing parts of Target's business, with brands joining also becoming potential customers of Roundel, Target's advertising business. Third-party marketplaces are becoming popular in retail as they drive higher profits for retailers by relying on sellers to store and own inventory. #target #shopify #markerplace

Big news for third-party sellers as Target partners with Shopify to expose their audience to more sellers without having to expand their product catalog. Savvy move for sure and a great opportunity to cheaply increase top line revenue. What's unclear to me though is what role (if any) does Mirakl play in this new third-party marketplace relationship? Mirakl is meant to be the best marketplace SaaS solution in the market and they JUST announced their partnership with Shopify in January. Is this meant to be an indictment of Mirakl's enterprise capabilities? Is Target already leveraging Mirakl or are they using their own Marketplace solution? Is Shopify doubling down on it's own marketplace solution now? I see this as a MASSIVE win for Shopify and those invested in their enterprise offering(s). I see this as begging more questions though for Mirakl and it's future in the enterprise marketplace space for retail and B2B...

𝑰𝒕'𝒔 𝒕𝒊𝒎𝒆 𝒕𝒐 𝒆𝒙𝒑𝒆𝒓𝒊𝒆𝒏𝒄𝒆 𝒕𝒉𝒆 𝒔𝒂𝒎𝒆 𝒄𝒐𝒏𝒕𝒓𝒐𝒍 𝒚𝒐𝒖 𝒆𝒏𝒋𝒐𝒚 𝒘𝒉𝒊𝒍𝒆 𝒎𝒂𝒏𝒂𝒈𝒊𝒏𝒈 𝒚𝒐𝒖𝒓 𝑾𝒐𝒐𝑪𝒐𝒎𝒎𝒆𝒓𝒄𝒆 𝒐𝒑𝒆𝒓𝒂𝒕𝒊𝒐𝒏𝒔 𝒘𝒉𝒊𝒍𝒆 𝒆𝒙𝒑𝒂𝒏𝒅𝒊𝒏𝒈 𝒕𝒐 𝒇𝒐𝒖𝒓 𝒍𝒆𝒂𝒅𝒊𝒏𝒈 𝒎𝒂𝒓𝒌𝒆𝒕𝒑𝒍𝒂𝒄𝒆𝒔. Sell on Amazon, Walmart Marketplace, eBay, and Etsy from a single Woo integration and say goodbye to the hassle of juggling multiple platforms. Here're 5 𝐫𝐞𝐚𝐬𝐨𝐧𝐬 why you should consider choosing our 𝑴𝒖𝒍𝒕𝒊𝒄𝒉𝒂𝒏𝒏𝒆𝒍 𝑰𝒏𝒕𝒆𝒈𝒓𝒂𝒕𝒊𝒐𝒏 𝒇𝒐𝒓 𝑾𝒐𝒐𝑪𝒐𝒎𝒎𝒆𝒓𝒄𝒆: https://bit.ly/3Y6dmhf #WooCommerce #SellersofWalmart #eBay #EtsySellers #SellEverywhere #OnlineBusiness #SeamlessIntegration #MarketplaceExpansion

I’ve got an update that flew under the radar at the end of June... And I'm surprised more people aren't talking about it. Target and Shopify have partnered up to help consumers find new products on Target's Amazon competitor, Target Plus. What’s Happening? Target Plus has been around since 2019, But this new partnership with Shopify is a big boost. The collaboration revolves around an app called Marketplace Connect, And this allows Shopify merchants to sell their products directly on Target Plus. This integration will make it easier for brands to reach their audience and benefit from Target's extensive customer base. Why Is This Important? Harley Finkelstein, the president of Shopify, said, "It’s table stakes for merchants to be everywhere customers are." This is such a good move that will make it easier for brands to sell directly to their consumers on the best channels available with 1. Increased reach 2. Brand Halo Effect 3. Diversification Brands like True Classics and Caden Lane are already on Target Plus and are seeing benefits. Other well-known brands on the platform also include Ruggable, Crocs, Maui Jim, and Timberlands Target has carefully curated a selection of about 1,200 brands to be featured on Target Plus, Target Plus could be a great addition for D2C brands, Especially if you’re already managing third-party marketplaces like Amazon, eBay, or Walmart. But full disclaimer: it's not for everyone. If you're still in the early stages of scaling or don't have a dedicated team to handle these marketplaces, It might be wise to focus on optimizing your existing channels first. But it’s exciting news even so.

This morning Target announced a new partnership with Shopify for their Target Plus third party marketplace (press release is in the comments). Having worked with the Target Plus team in a prior role, I know how laser focused they were on expanding selection and sellers but in a thoughtful way. In other words, they focused on specific categories and only would accepted a limited number of SKUs from select brands - different from the Amazons and Walmarts of the world. I see this partnership as not only a selection play but also a bizdev play. By powering the application through Shopify, my hunch is that Target can easily see (1) fulfillment metrics to ensure sellers ship fast enough and (2) product selection with reviews to vet which products they want. Gone are the day of spreadsheets to convey this information! On the implementation side, Shopify has done a great job of building integrations to other marketplaces so I imagine it would take days (vs. weeks) to get new sellers onboarded.

Retail & tech leaders team up to elevate e-commerce. 🛍 The Target-Shopify partnership lets stellar small brands gain access to a massive retailer and sell anywhere -- in stores, online and across social media. 🛒 Shopify’s partnership with Walmart has already proven it has the deep technical expertise to modernize and scale a retail giant’s e-commerce efforts. 🎯 Discerning, customer-centric curation will continue to differentiate Target's assortment strategy from rivals'. 📣 Improving Target’s e-commerce efforts will make its retail media network even more attractive to brand advertisers to drive B2B growth. ECOSYSTEMS COLLABORATE All 4 companies mentioned in the title have attracted their own retail ecosystem. It’s rewarding to see several ecosystems collaborating to: ❤️ Delight customers 🌟 Elevate standards 📈 Drive growth ... all of which pull the industry forward. Check out the common denominator among these recent collaborations: ❇ Shopify + Walmart, online marketplace expansion (2020) ❇ Shopify + Amazon, Buy with Prime integration (2023) ❇ Shopify + Target, online marketplace expansion (2024) What do you think of the Target-Shopify partnership? See the RetailWire article and add your thoughts. #retail #ecommerce #Target #Shopify

HEADLINE: Target teams up with Shopify to expand its Target Plus marketplace Target teamed up with Shopify to help add new and trendier brands to its third-party marketplace. Starting today, Shopify merchants can apply to join Target Plus via Shopify's Marketplace Connect app. The company shared in its announcement that select products will be featured both online and in Target stores nationwide. Target Plus is invite-only and a fraction of the size of competing marketplaces with only 1,200 sellers compared to Amazon's 2M sellers and Walmart's 135K sellers. However Target says that its marketplace has gained momentum and that its seller and product count have more than doubled over the past calendar year. (So just under 2M more to go to catch up to Amazon.) Jokes aside though, I think it's a much better play for Target to remain an invite-only curated marketplace, as opposed to try and catch up to Amazon or Walmart, whose "take anyone as a seller" strategies have led to earning huge market share, but also mistrust among consumers. Target does not split the revenue made through its third-party marketplace in its financial reports, and instead clumps the marketplace revenue together with "other revenue" such as money made from credit card profit-sharing and its advertising business, Roundel -- so no-one really knows how it's doing. I'd imagine though, if Target Plus was doing great, they'd be sharing those numbers with more transparency. I think this is a powerful partnership that could turn into a great opportunity for Shopify merchants. It reminds me of a plan for Kohl's that I shared earlier this year: "How about a partnership with Shopify where Kohl's creates pop-up storefronts at the front of their 1,000+ retail locations in the US, featuring products from popular regional D2C brands that sell on the platform? Kohl's could become the de facto brick-and-mortar retailer for brands without showrooms (or brands with small offline footprints)." I believe that the solution for smaller e-commerce merchants to go omnichannel and for major retailers and department stores to keep up with faster paced product trends moving forward is going to be a localized partnership between online brands and brick-and-mortar retailers. It's a win-win-win for brands, retailers, and consumers, and I hope to see more partnerships like the one between Shopify and Target in the future.