The battle for eCommerce dominance is intensifying, with brands across all industries – from retail to manufacturing and distribution – each searching for that needed edge in today’s cutthroat landscape. Combine this increased competition with shrinking margins along with ever-increasing customer demand, and it might feel like you’re being squeezed on all sides.
But through it all, there’s been a singular, strong, and consistent trend breaking through: online marketplaces are flourishing. Year after year, these marketplaces (also referred to as “enterprise marketplaces”) have grown at 2X the rate of overall eCommerce, achieving 25% year-overyear growth in the past year. In fact, today, online marketplaces make up two-thirds of global eCommerce sales.
Fueling this impressive growth, widespread consumer adoption of marketplace shopping has soared 35% in just two years. Drawn by the convenience, value, and selection marketplaces offer, nearly half of online shoppers now buy from marketplaces. Among those, over half primarily or exclusively turn to marketplaces for their online shopping needs.
Download The Ultimate Guide to Online Marketplaces Whitepaper
