HBC Canada launches new online marketplace, bringing opportunities to sellers

As we all know, Canada's online market has been dominated by tech giants such as Amazon, Walmart, eBay and Google. However, in 2020, retailers including Kroger and Chipotle have taken some steps to expand their market size and catch up with the US online market.

Recently, Canadian retailer Hudson's Bay announced that it is developing a new online marketplace that will enable third-party suppliers of all sizes to sell products directly to consumers. Hudson's Bay named it as an evolution of its digital-first strategy and plans to launch the new marketplace on its existing platform thebay.com this year .

New online marketplace launching soon

According to Hudson's Bay , the marketplace is part of the evolution of its digital-first strategy and is inviting high-quality suppliers to join. The new marketplace will offer products in apparel, home, beauty and accessories, as well as new categories.

Hudson's Bay said hundreds of sellers are already planning to join the online marketplace, and other interested sellers can apply to participate through its online application thebay.com or Google Docs .

Sellers should note that in the application listing, sellers need to provide information about their brand, whether they have distribution centers in Canada or the United States, how many retailers carry their brand, and whether their brand is sold in any other markets.

Additionally, sellers should note that the marketplace is currently limited to Canadian consumers, but the online marketplace will expand to the United States in the future.

Offline layoffs, vigorous transformation to online

Hudson's Bay is a Canadian omnichannel retailer founded in Ontario in 1670. It is one of the oldest companies in North America , operating categories including apparel, home, beauty and accessories . In addition to its e-commerce website , it also operates 88 full-line business locations.

Data shows that during the 2020 COVID-19 pandemic, nearly half of Hudson's Bay's offline stores were closed, causing a sharp drop in its profits, which was beyond its control.

To this end, Hudson's Bay also sold off the US department store Lord & Taylor (which subsequently went bankrupt) and the fast-selling website Gilt. In January of this year, it also announced a layoff of 600 employees to cut costs. However, Hudson's Bay said that the development of e-commerce is promising in the future, and it will increase investment in the online market and vigorously develop online business.

With the continuous development of e-commerce, many retailers have transformed online, and sellers also need to seize the right opportunities and choose the right platforms and retail channels to increase their sales.

Canada

Hudson's Bay

New online marketplace