Michaels will launch a marketplace for third-party craft supply sellers, though no debut date has been set. The Michaels Marketplace will be invite-only and aimed at “high-volume sellers of components, tools or craft materials,” according to an announcement on the company’s website.
The retailer also is currently seeking third-party solution providers in areas including payment processors, order management and shipping and fulfillment. The announcement doesn’t specify what relationship the marketplace will have with providers, but it does state that sellers can expect “integration and item setup via API, integration partners or web portal.”
The new marketplace could be built on top of a technology stack provided by Zibbet, according to Craft Industry Alliance. Zibbet, which previously powered a marketplace owned by Michaels competitor A.C. Moore, recently announced that it was acquired by “one of the largest companies in our industry.” Michaels gained access to some of A.C. Moore’s stores and intellectual property during the company’s 2019 bankruptcy.
Marketplaces have been a hot concept in 2021, as retailers look for new ways to make their ecommerce offerings stand out from the competition. Several other companies that recently launched their own marketplaces include:
- Lands’ End, which is focused on curating a smaller catalog of highly visible partner brands that can leverage the retailer’s website and drop shipping for order fulfillment to create a positive customer experience;
- Hudson’s Bay, which is seeking to offer a “significantly expanded” product selection that will include sports and recreation, tech, pets, health and wellness and vintage designer handbags and watches; and
- Verizon Media, which launched Yahoo Shops, a combination marketplace and advertising solution that promotes personalized digital storefronts that connect shoppers to sellers who are most relevant to their interests.