Watch out Jeffy B, Woolies is coming for your territory with an online marketplace called Everyday Market.
Background: Woolies have nearly 1,000 physical stores across the country. But they're also online too. Fun fact, Woolies actually started offering online shopping in a limited form in Sydney all the way back in 1992.
What happened: Fast-forward to today, and Woolies' online shopping sales have taken off. In fact, their e-comm sales grew almost 75% in the 2021 financial year. So thanks to COVID, online sales make up 8% of the company's total sales.
What else: Now, they've gone one step further with a new online marketplace called Everyday Market. It'll offer more than 2,000 products that aren't on Woolies shelves - and they won't be grocery items. We're talkin' Dysons, Nutribullets and more.
💡An online marketplace is a type of e-commerce where products are provided by multiple third parties.
💡It means that, although Woolies is selling Dysons from its site...they don't actually have the product in their warehouse. Once the sale is made, Dyson sends the product straight to your door.
💡It works for websites like Woolies 'cos it means they can offer you products without any additional costs...and they get to claim a clip on every purchase. And it's what Amazon became famous for, but now we're seeing companies like Kogan and Myer enter the space too. Watch out Jeffy B.
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