Business
Wix Acquires Modalyst to Provide Its Own eCommerce Supplier Marketplace and Native Dropshipping Solution
Acquisition will provide Wix eCommerce merchants with a native supplier marketplace to source quality products, as well as an integrated dropshipping platform
About this update from Wix.com Ltd.
[{"type":"text","content":"Acquisition will provide Wix eCommerce merchants with a native supplier marketplace to source quality products, as well as an integrated dropshipping platform for end to end white-label product fulfillment\n\n\nNEW YORK, June 15, 2021 /PRNewswire/ -- Wix (Nasdaq: WIX), a leading global SaaS platform to create, manage and grow an online presence, today announced the acquisition of Modalyst, a leading marketplace and dropshipping platform. The acquisition will continue extending the Wix eCommerce platform and contribute to the success of businesses on Wix, connecting Wix merchants to a vast supplier marketplace where they can create lasting, scalable relationships and source millions of high-quality products synced directly to their store to sell and fulfill online.\n\n \n \n \n \n \n \n\n \nAs frequency for online shopping has increased, the importance for merchants to expand their inventory and efficiently fulfill orders is crucial to managing and growing an eCommerce business today. Dropshipping marketplaces have been a game-changer for both suppliers and retailers and is evident in the success of the existing partnership between Wix and Modalyst through the Wix App Market. On average, Wix Stores that add dropshipping products increase AOV (Average Order Value) by 40% and sales revenues by 79% within the first four months.\nWith the acquisition of Modalyst, Wix business owners can seamlessly connect their online store to an established marketplace of thousands of suppliers, manufacturers and wholesalers where they have access to products spanning name brands, trending items and independent labels with the option to white-label products with their own branding. Merchants then import the products directly to their online store, including details and image options from the supplier, which continually update with the suppliers' pricing and inventory. When a purchase is placed, orders are packaged and fulfilled by the supplier and can be fully branded for a full white-label solution. The merchant receives tracking numbers and is updated on the fulfillment status of each order via their Wix dashboard.\n\"We're proud to welcome Modalyst to expand the infrastructure of Wix eCommerce,\" said Arik Perez, Head of Wix eCommerce. \"Connecting merchants directly to a full supplier hub allows them to expand their own product offering and help...