My Mall: “the fastest growing marketplace in Sweden”
My Mall claims to be one of the fastest growing marketplaces in Sweden at the moment. Last month, sales increased by almost 1,200 percent, compared with the same month last year. And during the first half of 2021, it also showed a similar increase.
My Mall is still not very big compared to other popular online marketplaces in Europe. The Swedish company currently has over 300 sellers on its ecommerce platform, but the user base is growing. And that’s not something that is traditionally the case with marketplaces in Sweden.
Sweden is an outsider in the world of marketplaces
As Ehandel describes, Sweden has always been a little different when it comes to online marketplaces. In many other countries marketplaces account for a majority of all ecommerce sales, but in Sweden, for a long consumers have been relying more on shopping at online retailers’ websites.
Many smaller marketplaces take up an increasing slice of the Swedish ecommerce cake.
“With companies like CDON and Fyndiq, an international giants like Zalando and Amazon however, there’s no shortage of players who want to change that image”, the Swedish website comments. And there are also many smaller marketplaces that, however, take up an increasing slice of the Swedish ecommerce cake.
My Mall aims at turnover of 1 million euros
One of them is My Mall, which is mainly active in the home and leisure segment. The marketplace currently features over 300 sellers, with the number increasing every month. “Now we are at a sales score of up to 950,000 krona (92,400 euros) a month”, CEO Håkan Jonsson Bodvar tells Ehandel. “We aim for a turnover of between 0.9 and 1 million euros for the full year.”
From physical retail to ecommerce
The company was founded in 2016 with the ambition of helping physical stores with the switch to ecommerce. When Håkan Jonsson Bodvar took over in 2018, the company started a transformation. The focus is now on attracting online retailers to its platform and targeting sales to consumers. Physical stores are no longer part of the strategy.
Physical stores are no longer part of the strategy.
My Mall has extensive plans to achieve the planned growth. For example, the company will launch a new brand platform, it will launch My Mall in the rest of the Nordic region, expand the range of its own products and turn certain sellers into ‘Premium Sellers’.