Third-party vendors find a platform in Michaels' new online marketplace
Michaels Joins the Online Marketplace Revolution
Michaels, the popular arts and crafts retailer, has launched an online marketplace featuring products from third-party sellers. This move marks a significant step in the retailer's digital transformation, as it now offers over 1 million stock-keeping units, extending its product range to candle and soap making, leather work, and more.
Unlike many other online marketplaces, Michaels has opted for a standard commission rate for sellers, rather than subscription or listing fees. This approach is designed to encourage a wide variety of sellers to join the platform, with Michaels currently accepting applications from sellers in categories like journaling, soap making, candles, arts and craft supplies, toys, yarn, and leather work.
The service portal of Michaels, which includes integrations with other platforms like ChannelAdvisor and ShipStation, is available for sellers to manage their small businesses. This tech-focused component sets Michaels apart in the crafts segment, as it supports both direct and third-party sales.
Michaels is not alone in its foray into online marketplaces. Retail giants like Amazon, Walmart, and Etsy have long dominated this space. Amazon, with its vast third-party marketplace, dominates e-commerce, while Walmart has expanded its online marketplace to include third-party sellers alongside its own inventory. Etsy, on the other hand, specializes in handmade, vintage, and craft supplies from numerous independent sellers.
Other retailers, such as Hudson's Bay, Bed Bath & Beyond, and Macy's, have also been adding third-party sellers to their marketplaces. In fact, Macy's launched its marketplace featuring more than 400 new brands in an undisclosed year. While the specifics of these marketplaces may vary, they all aim to offer a wide range of products, from pets and tech to recreation and health.
While the search results do not explicitly list other specific retailers that have launched online marketplaces exactly like Michaels, it is common for large retailers such as Amazon and Walmart to offer third-party seller platforms. Michaels is distinguished in the crafts segment for integrating a tech component and supporting both direct and third-party sales.
If you're looking for craft-specific marketplaces similar to Michaels, Amazon and Etsy are notable examples. Walmart also fits for a broader retail perspective. Other specialized craft stores, like Craft Warehouse and Fabric Depot, have strong online presences but it is unclear if they operate full third-party marketplaces similar to Michaels. Nonetheless, with the growing trend of online marketplaces, it's an exciting time for both retailers and consumers in the crafts industry.
- The integration of a tech component in Michaels' online marketplace, including services like ChannelAdvisor and ShipStation, sets it apart from other crafts retailers like Craft Warehouse and Fabric Depot.
- As the crafts industry continues to evolve, numerous retailers, such as Amazon, Walmart, and Etsy, have expanded their businesses to include third-party seller platforms in various sectors, including health and finance, in addition to crafts.
- The launch of Michaels' online marketplace, extending its product range beyond arts and crafts to categories like journaling, soap making, candles, and more, signifies the merger of traditional retail with AI-driven industry trends in the digital world.
