🛒 40% Marketplace Milestone
In the first half of 2024, B&Q hit a major milestone with 40% marketplace participation on diy.com. This was part of Kingfisher's strategic goal, demonstrating their focus on expanding their ecommerce presence. The marketplace now features 1.5 million products, compared to B&Q's own 40,000 product range. This significant achievement highlights the successful collaboration with Mirakl, their tech partner. The marketplace generated £157M in GMV, a 78% year-over-year growth.
🚀 Kingfisher's Global Expansion
Kingfisher’s success isn’t confined to the UK. Their marketplaces in Iberia and France are also thriving, with Castorama France launching in March 2024. The Iberian marketplace now contributes 22% of online sales, with 200 merchants and 200k SKUs. Meanwhile, Castorama France already has 170 merchants and 450k SKUs. The next big step is the launch of a marketplace in Poland, slated for H2 2024, marking Kingfisher’s continued expansion in Europe.
💰 Retail Media Growth
B&Q's marketplace success is complemented by the rise of retail media. In H1 2024, their AI-driven recommendation engines generated £55M in sales across all markets. There were 1,500+ live campaigns for sponsored product ads, involving 70 vendors. Notably, 200 campaigns were launched with marketplace sellers at B&Q, and there are plans to expand this further in H2.
🌍 Future Ambitions
Looking forward, Kingfisher aims for marketplaces to generate one-third of their ecommerce sales. This goal underscores their commitment to growing their digital platforms. The success of the B&Q marketplace is a blueprint for future endeavors. With Poland on the horizon and growing momentum in existing markets, Kingfisher is well-positioned to achieve this ambitious target. As the year progresses, expect more developments in their global ecommerce strategy.
Can B&Q maintain this momentum into 2025?
