February 6, 2023

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Fashion Your personal

Why H&M is also becoming a marketplace

Swedish fashion chain H&M is launching a new online platform: in the “H&M with friends” marketplace, shoppers will also find brands such as Lee, Fila, Superdry and Crocs. If successful, the test project will be gradually expanded.

 

Gradual expansion

In Sweden and Germany, H&M is opening a multi-brand platform where customers will not only find the fashion group’s own brands (like Weekday, &Other Stories, Monki and Arket), but also labels from external parties. In total there are thirteen women’s fashion brands and fifteen men’s brands, FashionNetwork writes. Fila, Crocs, Lee, Kangol, Eastpak and Buffalo are among those signing up.

 

“Both Sweden and Germany have a long tradition of shopping via catalogues and in Sweden we started our online shop as early as 1998, while the online shop in Germany has been around for 15 years,” a spokesperson for H&M explains. “Therefore, we are starting the test in these two markets and will gradually add other online markets.” The retailer cannot yet say anything about the timing of a possible further implementation. More than one third of H&M’s sales already comes from e-commerce.

 

Consumer expectations

The retailer’s move is not very surprising: marketplaces are becoming increasingly more important in e-commerce because they are well suited to consumer demands, with a very large selection, good service with a smooth return policy and very competitive prices. More and more retailers are opening their own marketplace, like Decathlon, Maisons du Monde or department store chain INNO.

 

Brands and retailers need to be present where the consumer is, and today that consumer is on the marketplaces, marketplace experts Maxence Vercruysse and Frank Laenens of Merkado confirm. At the upcoming RetailDetail Omnichannel & E-Commerce Congress on 24 March in Antwerp, they will elaborate on the theme. Tickets can be ordered via this link.