Mirakl Launches Service to Monetize E-commerce Traffic
Mirakl, which engineers online marketplaces for retailers and brands around the world, has launched Mirakl Ads, a service meant to help businesses monetize e-commerce traffic.
“Retail media networks offer massive potential for businesses to supercharge their e-commerce growth, but the existing solutions available today simply don’t offer the capabilities needed to deliver value in today’s e-commerce landscape,” Jean-Gabriel de Mourgues, executive vice president of Mirakl Connect and Growth Solutions, said in a statement.
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The service provides metrics on what ads are generating the best sales and helps businesses create more effective ad campaigns and direct ads to customers most likely to respond. A marketplace operator is able to serve up ads through the Mirakl platform.
The company also said Mirakl Ads is compatible with marketplace, drop ship and first-party e-commerce, and that it has established a team of retail media experts to help set up and scale campaigns.
Initial availability for Mirakl Ads will be in April 2023. Costs for utilizing Mirakl Ads would be variable depending on the degree of usage.
“Instead of irrelevant, distracting ads that can hurt the user experience, Mirakl Ads will surface the most relevant sponsored products to the right customers, leveraging Mirakl’s proprietary AI,” the company indicated in a statement. “Mirakl Ads streamlines campaign management with automated campaign capabilities that leverage sales data and sellers’ store catalogues to determine which sponsored ads will generate the best engagement, while also offering real-time performance metrics. The unified solution also eliminates the need for multiple logins, additional integrations and disparate budgets.”
According to statistics cited by Mirakl, retail media ad spending is projected to reach $160 billion globally by 2027. Amazon Inc. sold $31.1 billion in ads last year on its marketplace, while Walmart Inc. sold $2.1 billion worth of ads on its marketplace.
Increasingly, retailers and brands are integrating marketplace formats onto their e-commerce websites to broaden their assortments with additional merchandise categories, brands and items, with the aim to generate more online traffic. Macy’s, for example, launched its online marketplace in September and continues to evolve it, and next year, Bloomingdale’s will launch its online marketplace.
In addition to Amazon and Walmart, giant online marketplaces are operated by Alibaba, Farfetch and Shopify, though there’s a fast-growing subset of smaller ones emerging around the world. Express, Hudson’s Bay, Best Buy, Stadium Goods, Lands’ End, Crate & Barrel, Urban Outfitters and StockX are among the scores of marketplaces that have been launched in recent seasons, providing fuel for digital growth.
