myGoodsExceeds Growth Goals — and Generates $1.4M in GMV on Wish

Company Overview

When Jeremy Lasson and Nathan Franco co-founded myGoods in 2001, they were focused primarily on consumer electronics. Today, the online retailer offers more than 250,000 SKUs across dozens of categories and subcategories. After two decades of expanding to home appliances, outdoor equipment and even art supplies, the business is still scaling. Each month brings new product assortments. Every day, droves of new online shoppers discover myGoods as an efficient way to shop, browse and research. 

With US distribution centres in Maryland, Nevada and Arkansas, the retailer aims to deliver on its promise of free, fast shipping to buyers across the country. And with an overseas distribution partner to handle international orders, the business is building a strong base of cross-border consumers, too.

Of course, none of that growth happened by chance. It took the usual mix of vision and determination — plus an extra measure of expertise and e-commerce technology.

The Situation

When the duo first started leveraging e-commerce marketplaces, they handled the logistics of selling on eBay and Amazon in-house.

“We were a small operation trying to be as cost-efficient as possible,” Franco recalls. “We were handling data and inventory feeds on our own, pumping our product assortment out to marketplaces.”

But as both the competition and consumer demand swelled, myGoods notes that the process became very overwhelming, very fast. 

“Specifically, Amazon was growing at an astronomically quick pace,” Franco says. “We were having trouble managing inventory across the different marketplaces.”

As those complexities increased, Franco and his colleague decided to look for a solution they could use to simplify and streamline increasingly complex processes — and keep customers happy.

“We knew where we had deficiencies,” Franco says. “We needed someone to help us with the piece of the business we weren’t necessarily experts in.”

The Solution

After vetting a handful of e-commerce software solutions designed for inventory and order management, myGoods made its decision.

“In all of our research, ChannelAdvisor was the premier in that vertical,” says Franco. “They were the Gold Standard. And we felt that it was the best move to partner with the best in the business.”

Using ChannelAdvisor’s Self-Service Marketplaces and Webstore Amplifier features, Franco and Lasson say they were able to quickly sync inventory across marketplaces and the myGoods e-commerce site.

But the changes didn’t end there. Franco says that ChannelAdvisor also made it possible to expand to new marketplaces, automate the creation of new listings and even join the Walmart marketplace at a time when it was invitation-only. And then there was ChannelAdvisor’s direct integration with Wish, which Franco notes has made a remarkable difference in myGoods’ ability to scale.

“Our ChannelAdvisor account manager recommended Wish, and it looked like it would be a good fit,” Franco says. “They have a great customer base, and we’re able to move some products that may not necessarily do well on other marketplaces — but do consistently better on Wish.”

Franco says it was the kind of inside knowledge ChannelAdvisor provided that helped myGoods reach new levels of growth with ChannelAdvisor.

“We weren’t let down,” he says. “In fact, ChannelAdvisor surpassed our expectations in the inventory and order management portion.”

Franco says myGoods also came to rely on ChannelAdvisor’s robust set of features to branch out to new marketplaces and scale the business even more.

The Results

After more than a decade with ChannelAdvisor, myGoods reports that it is still going strong — and growing like crazy.

“Our ChannelAdvisor account manager has really supported us in our vision to scale,” Franco says. “That’s something we value greatly.” 

On Wish, for example, myGoods’ reports that its gross merchandise value increased every single month for an entire year — reaching a record GMV total of $1.4 million. And something as complex as adding 50,000 products is now a “seamless process,” Franco says, since ChannelAdvisor handles the heavy lifting.

ChannelAdvisor has become an integral part of myGoods’ infrastructure, according to Franco, with the platform playing an essential role in everything from monitoring sales across multiple marketplaces to catching and correcting listing errors. 

“There’s sort of a three-prong journey going back and forth every day,” he says of the relationship. “We have our system, we have the marketplaces. And in the middle, we have ChannelAdvisor — the critical middle portion that helps us operate.”