Mirakl, the leading global marketplace solutions provider, announced its inclusion in Gartner’s Hype Cycle for Digital Commerce, 2019 as a Sample Vendor for marketplace operation applications within the Enterprise Marketplace.

According to Gartner, “By 2023, 15% of medium- to high-gross-merchandise-value digital commerce organizations will have deployed their own marketplaces, thereby creating an entirely new digital ecosystem².” In the Hype Cycle for Digital Commerce, 2019 Gartner explains, “The enterprise marketplace business model is attracting an increasing amount of attention from brands, retailers and B2B online sellers, especially in verticals such as manufacturing, healthcare, chemical, life science, retail and CPG. It is gaining momentum as more organizations try to transform their business models by creating digital business ecosystems.”

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The Enterprise Marketplace business model has a “high” benefit rating in the 2019 Hype Cycle for Digital Commerce. The report adds, “When done right, there are many benefits. It helps enterprises enrich product offerings, reduce selling or procurement costs, test new items or categories before adding them to the product catalog, and improve the customer experience by making the process more transparent and efficient. Marketplaces can also be integrated to buyers’ internal procurement systems, thus offering buyers a single source for many products.”

Further, a Total Economic Impact report conducted by Forrester Consulting found that Mirakl Marketplaces can deliver a significant 162% return on investment within three years and drive revenue up by $412 million over three years. The study also found that Mirakl customers experienced a 15% increase in average order size and a 7% increase in physical store sales.

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Mirakl’s innovative, market-leading marketplace technology has helped more than 200 companies globally. Mirakl counts many notable B2C companies among its customers, including Walmart (Mexico), Best Buy (Canada), and Urban Outfitters and a diverse set of B2B clients across a range of use cases including Toyota Material Handling and Siemens.

“Last year, buyers spent $1.8 trillion globally on online marketplaces. We created Mirakl to help these companies capitalize on this significant opportunity, and have seen first-hand the dramatic impact of a marketplace for our customers,” said Adrien Nussenbaum, co-founder and U.S. CEO of Mirakl. “We are thrilled to have been included as a Sample Vendor for marketplace operation applications within the Enterprise Marketplace, and that the Enterprise Marketplace was awarded a high benefit rating in Gartner’s Hype Cycle for Digital Commerce, 2019. To us, this is yet another sign that now is the time to seize the marketplace opportunity.”

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