In the Amazon fueled ecommerce marketplace wars, with aggressive competitors—from eBay and Google to Walmart and Target — Supermarket Mega-chain Kroger seized the lock-down pandemic era to launch its own marketplace in 2020. In this bold move Kroger’s shifted from its old store-based model into a co-created marketplace that offers tens of thousands of indie and global product brands—from food and household goods to health, beauty, and wellness companies.
“We’re continuing to invest in technology that enables us to expand our digital services to deliver anything, anytime, anywhere.” Jody Kalmbach, Kroger
With many organizations still jumping on the band wagon—even Hudson’s Bay is planning a 2021 launch—many have turned to marketplace SasS providers, like Mirakl, to create, launch and host transaction platforms between global buyers and sellers of products and services. Not surprisingly, Mirakl’s growth in transactions on the marketplaces they operate was up 110% to $3.1 billion in 2020! On this episode of the Reboot Chronicles, fresh off of closing their $300 million funding round, we go under the Mirikal hood with Co-founder and Co-CEO, Adrien Nussenbaum to see how they are helping to drive disruption and innovation for these B2B and B2C companies.
“Ecommerce accelerated dramatically in 2020, with marketplaces capturing a disproportionate share of that growth.” Philippe Corrot, Mirakl CEO
Marketplaces are extremely complex models, with multi-factor optionality, so managing key growth variables is a powerful tool to build successful platforms that can keep-up and compete with the big-dogs. After working with over 300 B2B and B2C companies in over 40 countries such as Best Buy Canada, Kroger, HP Enterprise, AIRBUS, and Toyota, Mirakl has figured out how to partner with high potential companies that have great assets—and seek to evolve their business models and target changing consumer buying habits. Adrien puts it this way, “ imagine yourself ten years from now, do you see yourself as a consolidator or being consolidated ... on a consolidator site such as the Kroger’s and Best Buy’s of the world."
Listen in to Adrien's entrepreneurial journey (and where they are going next) here or wherever you listen to your podcasts.
About The Reboot Chronicles Podcast: Hosted by Dean DeBiase, The Reboot Chronicles is a popular no-holds-barred podcast on iHeart Radio, iTunes, Spotify, Google Podcasts and YouTube that has been bringing together CEOs, entrepreneurs, authors, and global leaders, for over a decade, to discuss how organizations are rebooting their leadership-competitiveness of everything from growth, innovation, and technology to talent, culture, and governance. Tune in wherever you listen to podcasts or at https://www.revieve.com/rebootchronicles
Named a "Growth Guru" by Inc. Magazine, Dean DeBiase is a Faculty Member at Kellogg School of Management and Silicon Valley serial CEO, where he has served in chief executive and chairman roles of more than a dozen emerging growth companies, CEO of Fortune 500 subsidiaries, and a director on public, private, family-enterprise, CVC, PE and VC boards. He is a Technology Fellow at Northwestern University, a Board Leadership Fellow at The National Association of Corporate Directors, and an Advisor to the National Science Foundation. A Forbes Contributor and co-author of the best-selling book The Big Moo, Dean, is working on his next book, Dancing with Startups. Connect with Dean here: www.linkedin.com/in/FollowDean