MediaMarkt-Saturn, a German electronics giant, announced the launch of their first online multi vendor marketplace platform in Spain. The company welcomes other retailers to sell in their virtual multi vendor platform. The multi-seller marketplace will only work in Spain first. Martin Wild, Chief Digital Officer at the Media Markt-Saturn Retail Group, told that Amazon, eBay, Real and many other dealers wanted to establish themselves as marketplaces.
Wild stated: “Next year, we will start accepting other traders on our Internet shopping mall platform in Spain. Over there, the competitive environment looks different than ours. […] But in Germany, we are discussing various options. Not all who build virtual marketplaces today will be successful.”
In Spain, Media-Markt-Saturn also used Watson, an AI from IBM, for the customers service. Wild explains: “The self-learning system has taken over part of the communication with the Spanish customers. Conventional chat bots, as we see them in the market nowadays, can only give predetermined ‘scripted’ answers to certain questions. But we believe there is more. For the German market, we are also busy with setting up a pilot.”
The Media-Markt-Saturn CTO, Karel Dörner, says that AI play a vital role in the company pricing strategy: “The software doesn’t simply compare today’s prices with those of competitors. It involves leading indicators, such as the search behavior on Google, and it makes different pricing suggestions.”