Target launches online marketplace in the US
US discount retailer Target is launching an ‘invitation-only’ marketplace called Target + (Target Plus), which will enable third-party merchants to sell through the retailer’s online platform.
While it’s still early days, the initiative is expected to feature products from popular categories, such as home, toys, electronics and sporting goods.
“With Target +, we aim to give [customers] easy access to even more great products by partnering with best-in-class specialty and national brands that will help guests save and get more done in just one stop,” Target’s chief marketing officer and digital officer Rick Gomez.
Different retailers have experimented with launching their own online marketplaces in Australia, with mixed results.
Department store Myer opened Myer Market in December 2017. In June 2018, roughly six months after launch, it had on-boarded 150 sellers and carried 30,000 products.
In comparison, Catch Group chief executive Nati Harpaz recently told IRN that the online retailer’s marketplace now carries close to 1.7 million product, and has even reduced some of the SKUs that it thinks are less relevant.
“I think the next stage over the next six months, from a marketplace point of view, is focusing on the curation – focusing on making sure what comes on our marketplace is really tailored towards our customers and drives the DNA of our business,” Harpaz told IRN.
Wesfarmers-owned discount department stores Kmart and Target Australia have not yet dipped their toes into the online marketplace space.