Myers Industries is increasingly focusing on ecommerce as part of its strategy to drive growth, particularly through online sales channels like Amazon.
The company sees expanding its ecommerce presence as crucial to growing its material handling and distribution segments faster than the market average. Myers is a manufacturer and distributor of products for material handling and tire repair.
Interim CEO Dave Basque shared during recent earnings call that ecommerce has been essential in supporting the Myers Industries’ major brands, such as Akro-Mils, Scepter, and Jamco, and other parts of the business, including rotational molding and RV tank sales.
“We are expanding our product offerings through our ecommerce channel, which is growing faster than the industry average,” he noted. “Continued investment in our power brands and the ecommerce channel will fuel Myers’ future growth.”
4 elements of Myers Industries’ ecommerce strategy
- Ecommerce as a growth driver. Myers Industries views ecommerce as a key part of its growth strategy, helping to boost sales across a variety of product lines.
- Leveraging Amazon for market reach. Myers Industries has been selling through Amazon since 2013 and has been part of Prime Day events since 2017. The marketplace plays a significant role in reaching a wide customer base, and the company continues to expand its presence there.
- Expansion in the distribution segment. In addition to material handling products, Myers is particularly focused on growing its ecommerce sales within its distribution business.
- Strong growth trend. Myers’ ecommerce channel is growing faster than the industry average, although the company has not disclosed specific growth figures.
One of the company’s key initiatives is increasing its product listings on Amazon. Bart Eggert, senior manager of ecommerce, emphasized Amazon’s reach.
“Amazon is a trusted platform with the world’s broadest market reach,” Eggert said. “The platform allows us to bring our Myers products to a range of customers — right where they want to shop.”
For the 2024 Amazon Prime Day event, customers had access to 70 Myers products from key brands, and the company is also launching new product lines on the platform, including Roto and Scepter products.
Basque added that selling on Amazon requires managing the competitive landscape carefully, but the company is seeing improved results in both sales and margins as its efforts refine. Myers Industries’ annual sales for 2023 totaled $813.1 million, with a clear emphasis on strengthening its ecommerce strategy going forward.
Amazon is No. 1 in the Top 1000 Database. The database is Digital Commerce 360’s ranking of the largest online retailers in North America by annual web sales. Amazon is also No. 3 in Digital Commerce 360’s Global Online Marketplaces Database, which ranks the 100 largest global marketplaces by third-party gross merchandise value (GMV).
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