Mirakl has announced the acquisition of AI personalisation vendor Target2Sell to optimise buyer discovery and conversion, thereby accelerating growth through first-party and third-party product curation at scale. The company also announced Payout, a new solution for marketplace operators that simplifies seller payouts, to be released with early access in the second half of 2022. The two innovations will enable Mirakl customers to achieve faster growth and higher revenues by powering highly efficient enterprise marketplaces at scale. With the addition of new features to accelerate onboarding and simplify seller management, Mirakl marketplace operators are now well-positioned to take advantage of the booming marketplace economy.
New Marketplace Platform capabilities from Mirakl will now give sellers and operators the ability to manage data quality and customer care at scale through AI. These include new product catalogue data mapping AI, Customer Care Intelligence, a new One Creditor platform business model, and a FastTrack onboarding capability to accelerate the onboarding of sellers and their catalogues.
The marketplace model makes it possible for digital commerce businesses to deliver increased value to their customers through vastly expanded assortments of more than 100 million products, competitive prices, and an exceptional buying experience. However, one of the most common challenges for new marketplace operators is maintaining brand identity and personalised customer experiences while dramatically scaling those assortments. Marketplace success depends on the ability to propose the right products to the right customers at the right time, leading to increased conversions and improved customer satisfaction.
Target2Sell has developed an innovative, AI-driven suite of products, complemented with deep expertise, that enable eCommerce operators to immediately offer advanced personalisation capabilities. Target2Sell’s products are trusted by more than 100 enterprise customers worldwide. With the acquisition of Target2Sell, Mirakl-powered Marketplace operators will be able to expand their assortment easily and exponentially to meet the changing needs of a much wider customer base. Target2Sell’s AI-driven products ensure that customers are presented with relevant, personalised experiences proven to drive as much as 15 per cent higher conversion rates through a tailored shopping experience. The integration of Target2Sell into Mirakl’s industry-leading enterprise marketplace platform will drive immediate and tangible performance increases for customers through the ability to instantly achieve curation at scale.
“Mirakl’s vision has always been to make it easy and fast for our customers to launch and scale the world’s leading online marketplaces. The acquisition of Target2Sell and our new platform innovations represent the next step in providing Mirakl-powered Marketplaces with the technology, ecosystem and expertise to scale their marketplaces without limits, all while maintaining their unique brand DNA,” said Adrien Nussenbaum, co-founder and co-CEO, Mirakl. “By expanding Mirakl’s suite of industry-leading marketplace solutions, we’re creating immediate opportunities for enterprise marketplace operators and sellers alike to leverage the power of data and machine learning to achieve curation at scale and open new revenue for their digital commerce business. As we build on our legacy as a category creator and industry innovator, we will continue to push the boundaries of what it means to shape the future of eCommerce and empower our customers to succeed.”
Payout simplifies the global payout process for operators, allowing them to increase GMV by adding more top global sellers without dealing with regulatory compliance bottlenecks and the burden of regional licensing and management. Payout efficiently handles seller onboarding and Know Your Customer (KYC) requirements, regulated escrow, currency exchange and refund reserve management, maintaining compliance regardless of the region of the operator or seller. Initial solution availability will begin in Autumn 2022 via an early access program.