The Warehouse Group has launched a new e-commerce venture, TheMarket, an multi-brand online shopping platform.
TheMarket has launched with over 1500 brands and one million products, including local brands Karen Walker, World, Father Rabbit, Citta and Barkers, and Australian and international brands PE Nation, Cue, Billabong, Cotton On and The Nile, and more.
“TheMarket is one part of delivering on our strategy of investing in the digital future,” said group chief executive Nick Grayston.
TheMarket is the product of a $12 million investment and has been kept operationally separate from The Warehouse Group, but will utilise some group assets.
It launches as a sixth consumer brand for the group, joining The Warehouse, Warehouse Stationery, Noel Leeming, 1-Day.co.nz and Torpedo7.
“We have completed a number of Group projects to improve our digital reach for the future, including building a better supply chain, increasing our shared services competency, and improving our systems and data capability," Grayston said.
"Together with TheMarket these elements have built the foundation for our customer-facing eco-system that will help Kiwis live their lives better."
New Zealanders were often compromised in terms of range, access, and ease of delivery online, Grayston said.
"The unique brand-first proposition from TheMarket will enable capture of a greater share of this ecommerce growth,” he said.
Kiwis spent $4.2 billion online last year, he says.
“It’s a significant opportunity, especially when you look at New Zealand compared to other countries. Our online spend is currently about nine per cent of total retail spending, compared to the UK who are at 18 per cent.”
TheMarket would complement the Group’s existing brands, unlocking new audiences and categories for the group.
TheMarket team began working on the project in early 2018 from their own premises in Newmarket and will be led by global e-commerce expert Justus Wilde
Justus Wilde said TheMarket is different to other sites.
“It’s much more content-focused with great design and discoverability, integrated with social, and brands selected on their desirability," he said.
"It’s a contemporary, brand-driven e-commerce experience that incorporates the latest trends and insights.
“We’ve launched TheMarket as a tactical trading platform initially, but we will be continuing to develop the site by innovating the customer experience. For example, looking at how we can improve delivery, using data to drive personalisation, and encouraging loyalty through unique member offers.”
The Warehouse Group will use its extensive store footprint to support TheMarket’s business model for pick up, return and click and collect, with remaining stores to be rolled out over the next 12 months.
“Most Kiwis live within 30 minutes’ drive of a local Group store, so the existing omnichannel and distribution structure is a significant advantage, and will also help drive cross-brand foot traffic and sales for the Group,” said Wilde.
TheMarket has also partnered with Fonterra Farm Source to create MarketPoints at ten Farm Source stores around the country, so shoppers in rural areas can also take advantage of the site’s convenience, with more MarketPoints to be added over time.