Mirakl Marketplaces Grow Four Times Faster

This growth gap shows that marketplace retailers are no longer just bigger online catalogs, they are switching to a different economic model. A traditional e-commerce site can only sell what it buys and stocks. A Mirakl marketplace adds thousands of seller owned SKUs without tying up working capital, then makes money from commissions, software fees, and later ads. That is why Mirakl customer GMV grew 31% to $15B in 2025 while overall e-commerce grew far more slowly.1 2 3 4

• Best Buy and Ulta make the shift concrete. Best Buy said its Mirakl powered marketplace more than doubled online assortment at launch, while Mirakl reported Best Buy expanded SKU count 11x with 1,000 plus sellers in three months. Ulta launched UB Marketplace with integrated search, cart, checkout, loyalty rewards, and returns, making third party inventory feel like native Ulta inventory.1 5 6 7
• The retailer value proposition is simple. Instead of buying inventory upfront, the retailer lets outside sellers list products, keeps a cut when something sells, and offloads much of the merchandising and fulfillment work to those sellers. That creates capital light growth and much better margin expansion potential than ordinary first party retail.2 3 8
• The divergence widens once marketplaces reach enough seller density to support ads. Mirakl has layered in Mirakl Ads across its network, and marketplace ad economics are far richer than product retail margins. In practice, once a retailer has enough competing sellers, it can sell placement as well as transactions, which gives the model a second profit engine that standard e-commerce operators usually lack.2 8

The next phase is less about proving the marketplace model and more about how many large retailers can operationalize it fast enough. As more chains copy Best Buy, Ulta, Lowe's, and Tesco, marketplace infrastructure becomes core retail plumbing. The winners will be retailers that turn seller density into a compounding loop of more selection, more traffic, more commissions, and more ad spend.1 5 6 7