Two-day shipping service ShopRunner Inc. reportedly plans to acquire fashion and beauty online marketplace Spring, according to a report at Recode. Spring declined a request from Internet Retailer to comment on the reported acquisition. ShopRunner could not be reached for comment.
New York City-based Spring launched in 2013 with 150 brands available on the marketplace. Now, ShopSpring.com offers more than 200,000 products, mostly in apparel and accessories, from more than 2,000 brands.
The online marketplace offers free shipping on all items, but estimated shipping time depends on what items are purchased because every item is shipped directly from the brand selling on its marketplace, allowing brands to “control the experience,” says Marshall Porter, Spring’s president. “We’re all brand-direct and authentic,” he adds, noting that shoppers receive their items in a branded box because it is shipped directly from the brand.
The marketplace does not offer expedited shipping because of this, but Spring says: “If you need your item sooner than the brand can ship it to you, we will do everything we can to work with the brand to get your item to you as soon as possible.”
ShopRunner is a service that provides its members with free two-day shipping and free returns from the more than 100 retailers it works with, including Neiman Marcus (No. 43 in the Internet Retailer 2018 Top 500), Harry & David and Under Armour Inc. (No. 31). ShopRunner reportedly say its members spend more than $2 billion a year on partner shopping sites, and ShopRunner takes a cut of each sale.
ShopSpring.com has more than 1 million monthly visitors, 60% of whom are repeat visitors, Porter says. Spring’s revenue comes from about half mobile shoppers on the Spring app and half from its website—and that revenue grew 273% in 2017 over 2016, Porter says, declining to provide a specific figure.
Internet Retailer estimates Spring’s 2017 gross merchandise value at $150.0 million compared with 2016’s $51.1 million GMV, a 194% jump, according to Top500Guide.com.
Spring is No. 49 in the Internet Retailer 2018 Online Marketplaces.Favorite