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Seenario- Hudson's Bay Canada retail operations are struggling in light of this they plan to launch an online marketplace. Below is a short article to provide some perspective: Hudson Bay's this week conrmed the layoff of 600 employees, all of whom worked at the company's department stores in Canada. The retailer, which currently has 88 full-line stores, is not closing any of its locations. However, some locations are temporarily closed due to lockdown rules for nonessential retailers in an effort to stem the spread of COVID-19. Dive Brief Hudson's Bay: . As retailers nd ways to adapt to a more digitalfocused world, Hudson's Bay announced that the retailer is launching an online marketplace, according to a company press release. . The department store put a call out for Canadian vendors to become part of its seller community in apparel, home, beauty or accessories. The retailer is also considering new lines of product offerings. - The marketplace will launch on thebay.com later in 2021, per the release. Potential sellers can ll out a marketplace application form. Dive Insight: Hudson's Bay is preparing to enter into the crowded online marketplace space. The retailer, a sister company to Saks Fifth Avenue and Saks Off 5th, said the marketplace initiative is part of its "digitalfirst strategic evolution," and is inviting large and small businesses to become a part of its seller community. Vendors must ll out an application to be considered for the program and answer questions about whether they ship to Canada, sell on other marketplaces or are BIPOC-owned or designed, and how many retailers currently carry their brand. Marketplaces have become an imperative line of revenue for many large retailers, which can collect commissions and fees from their sellers. Amazon this week revealed that its marketplace played a large role in its fourth quarter, with independent sellers landing 50% year-overyear sales growth. Those small businesses notched $4.8 billion in sales between Black Friday and Cyber Monday up 60% from the year prior. Nearly 60% of products sold on the Amazon site come from third parties. In a report this summer, Marketplace Pulse said Walmart's marketplace is part of the company's larger digital efforts, with the number of sellers on its platform doubling to more than 50,000 from 2019. Walmart last year also partnered with Shopify to bring 1,200 sellers to its thirdparty marketplace, with a focus on "U.S.based small and medium businesses whose assortment compliments ours," Walmart Marketplace Vice President Jeff Clementz said at the time