Stockmann to build a new marketplace in its online store – opening new opportunities for partners and expanding the product selection significantly

Stockmann plc, Company Announcement, 9 October 2018

Stockmann plans to launch the first B2C marketplace focusing on fashion, beauty and home design products in Finland in spring 2019. Stockmann will introduce the new business models to its online store, opening its digital doors to new brands. The marketplace and its concept have been under development in cooperation with OP since spring 2018.

The marketplace platform enables new partners and product areas to be added to the stockmann.com online store. while giving Stockmann the chance to considerably expand its own product selection and digital services in the online store.

The new marketplace gives Finnish companies focusing on fashion, beauty and home design products a new channel for increasing their sales and reaching new customer groups in Stockmann’s brand environment without major investments or risks. The marketplace gives customers easy access to products and offers, providing goods suppliers with the opportunity to showcase a larger product range. The service will cater to the needs of Stockmann, the goods suppliers and the customers.

Stockmann is also further strengthening integration between its brick-and-mortar stores and its online store. Currently not all of the products sold at Stockmann department stores are available online. The marketplace will give partners operating in the department store the opportunity to sell their products online, bringing new products and brands to Stockmann’s customers across Finland.

The new marketplace gives Finnish companies focusing on fashion, home and design products a new channel for increasing their sales and reaching new customer groups in Stockmann’s brand environment without major investments or risks. The marketplace gives customers easy access to products and offers, providing suppliers with the opportunity to showcase a larger product range. The service will cater to the needs of Stockmann, the suppliers and the customers.

“This is a huge step in our efforts to build the Stockmann of the future. We’re proud that we have the ability to offer a reliable Finnish marketplace for our partners and customers while challenging other players in the multichannel trading space. Our product selection will expand in stages as we add new partners,” says Anna Salmi, who is in charge of marketing, digitalisation and ICT at Stockmann.

Extensive cooperation with OP

As part of its digital acceleration (#digikiihdytys), Stockmann signed a cooperation agreement with OP Bank in the spring concerning payment services and digital commerce. To create the technology for its marketplace, Stockmann sought a partner with which it can develop its new digital services so as to better serve its customers. One milestone in this cooperation was reached in September, when stockmann.com introduced OP’s payment transmission service.

“We want to create new, non-traditional and innovative solutions for developing our marketplace. By cooperating with OP, we have created retail solutions for the future while laying the groundwork for growth for both companies,” says Anna Salmi.

“The purchasing behaviour, shopping and payment methods of customers are changing at an increasingly rapid pace. A more versatile online store opens up opportunities for companies to grow their operations and reach new customer groups. We aim to actively offer solutions that allow Finnish merchants to enter domestic and international marketplaces. It’s great to be involved in developing Stockmann’s retail solutions,” says Perttu Kröger, Director, New Digital Commerce and Payments at OP.

Stockmann has considerably ramped up the efforts and speed with which it is growing its online store and developing its multichannel operations by launching a digital acceleration (#digikiihdytys) campaign at the beginning of the year. The marketplace pilot is already under way with the first partner, XS Toys, which reintroduced toys to customers of the Stockmann online store in September.

Further information:
Anna Salmi, Chief Customer Officer, Stockmann, tel.  +358 40 721 0280
Perttu Kröger, Director, New Digital Commerce and Payments, OP, tel. +358 50 506 5434