DIY chain B&Q has today launched a new online home improvement marketplace.
The proposition will both expand the retailer’s existing ranges and add new categories, with products available for home delivery and click & collect in the future.
Within six months, B&Q is aiming for 100,000 more home improvement products to be available to buy on its website diy.com and app from third-party sellers, in addition to the 40,000 products currently sold by the retailer. The group stated that its ambition was to offer an “unparalleled choice” with millions of products available.
At launch, customers will be able to choose from an expanded selection of wallpaper, lighting, and power tools, as well as a new range of small domestic appliances – a new category for B&Q. Over the coming weeks, it is expected that third-party sellers will bring thousands more new products from a range of brands, including Osram, Black & Decker and Breville.
Marketplaces have been growing in popularity in recent years, led by Amazon. Nearly half (48%) of online product searches now start on marketplace platforms in key markets including the UK and US [survey by Inriver].
B&Q’s new offer has been developed in partnership with Mirakl, a marketplace SaaS platform that also recently worked with Debenhams.
Graham Bell, B&Q’s CEO, commented: “At B&Q, we’re focused on improving shopping experiences for our customers to make shopping with us even more convenient. Around 85% of our customers’ shopping journeys start online. With the launch of marketplace, customers can now access an even bigger choice of home improvement products online, with the convenient option to return many products at their local store, with Click & Collect options coming in time.”
He added: “Marketplaces are a rapidly growing retail phenomenon around the world and we’re excited by the potential this model brings in combination with the convenience of our fulfilment capabilities. The unique multichannel combination of this online marketplace, along with our network of 300 stores, means we can offer customers a level of choice, speed and convenience that pure play retailers cannot match.”
The group noted that the new marketplace creates a scalable model for Kingfisher, B&Q’s parent company, to roll out in other markets and banners.
B&Q noted that all third-party sellers at diy.com will be selected by its experts and will undergo a verification process to ensure they complement the retailer’s existing offer. Products sold by third-party sellers are identified by the description ‘sold and shipped by [seller name]’ underneath the product title.
NAM Implications:
- “Marketplaces are a rapidly growing retail phenomenon…” – agreed.
- And key to benchmark vs Amazon, the standard-setter…
- …apart from their having a 500m+ catalogue.
- (i.e. consumers have high expectations for this reason…)
- Fingers crossed…
