Overview of Global Online Marketplaces
Key Players and Growth:
- Top Leaders: Taobao (No. 1), Tmall, and Amazon remain the top three marketplaces.
- Noteworthy Movements:
- MercadoLibre Inc. jumped to No. 7, overtaking Rakuten Ichiba.
- OfferUp dropped from No. 10 to No. 12, behind Lazada Group and Coupang.
- Ozon (Russia) grew 110.3% and moved up from No. 19 to No. 13.
- Temu (China) ranked exceptionally high at No. 18, and Shein entered at No. 83 with a 40.7% year-over-year growth.
Marketplace Participation:
- Top 1000 Retailers: Overall participation dropped to 56.0% in 2023 from 58.0% in 2022.
- Amazon: Lost the largest share of Top 1000 merchants, dropping from 54.0% to 51.3%.
- Walmart Marketplace: Maintained resilience, keeping its share flat at 14.3%.
Retailer Insights and Consumer Behavior
Consumer Behavior:
- Buying Frequency: 61% of consumers buy from marketplaces such as Amazon, eBay, and Etsy.
- Experiences: 43% faced challenges with marketplace shopping experiences.
- Perceptions: 45% noticed changes in their marketplace buying behavior over the past year.
- Future Behavior: 40% expected changes in their marketplace buying behavior compared to last year.
- Unfamiliar Brands: 57% would consider buying from brands or sellers they haven't heard of.
- Previous Purchases: 30% purchased a product directly from a seller's website after finding it on a marketplace.
- Influences: Price, variety, and convenience were the main factors influencing purchases.
- Concerns: Security, delivery times, and product quality were primary concerns.
Case Study: Dude Wipes and Walmart Marketplace
Challenges:
- Shipping Issues: Limited staff and one shipping location hindered fast nationwide deliveries.
Solution:
- Walmart Fulfillment Services (WFS): Enabled two-day shipping across the US.
- Inventory Management: Improved inventory levels and provided customized recommendations using machine learning.
Benefits:
- Time and Resource Management: Freed up time and resources for business growth.
- Customer Experience: Enhanced visibility and managed out-of-stock issues.
Global Growth Stories
Rapidly Growing Marketplaces:
- Russia’s Ozon: Grew 110.3% year over year.
- Shein: Grew 40.7% and entered the rankings at No. 83.
- Other Notable Growth:
- Hepsiburada (Turkey): 31.0% growth.
- MercadoLibre (Argentina): 29.9% growth.
- Flipkart (India): 20.1% growth.
This summary captures the key trends, growth stories, and insights from the report, focusing on the most significant data and developments in the global online marketplace landscape.