We're More Than Just a Commerce Cloud. We're a Marketplace too.
Two years in a row marketplaces have grown at twice the rate of stand alone e-commerce
By the Numbers
Marketplaces provide higher consumer traffic
From attraction, to conversion, to product placement, to consumer re-engagement, marketplaces have proven to be an important factor influencing the entire path to purchase through data. Something that traditional brick-and-mortar retail cannot.
In 2019, 42% of consumers said they shopped exclusively on or a lot on marketplaces, a figure that rose to 57% in 2020 and has held steady at 57% thru 2021 - even as physical stores reopened. The digital shopping experience has been accepted and the industry transfer from brick-and-mortar retail to online Direct-to-Consumer is in full swing.
Marketplace Adoption Increased by 35% Over Pre-Pandemic Levels.
79% of consumers prefer online marketplaces because of convenience and product offerings.
One of the top reasons consumers prefer online marketplaces is because they offer more product selection than traditional retail can. As marketplace sellers deliver a wider assortment through the products they offer. This is one of many reasons why 79% of consumers who shop online at least once a week—the most valuable shoppers in e-commerce—identify marketplaces as the most convenient way to shop.
Pandempic pressure, rsising inflation and supply chain disruptions have attacked retails bottom line and in many cases shut their doors permanetly. Retailers are exposed to increased materials costs and overhead. Supply chain disruptions increased 88% year over year (per Resilinc Corp.). The impact of decreased margins runs through the entire organization, developing a vicious cycle of smaller buys of product from vendors, which leads to unrealized growth and profitability. Marketplaces remove overhead, increase supply and provide growth and profitiability through direct engagment with consumers.
Deep Margin Cuts and Smaller Buys from Retail Prevents vendor Growth and Profitability.
*Source: 2022 Enterprise Marketplace Index by Mirakl (Spring 2022 Release on global retail)