Look past Bezos’s behemoth and there is an array of exceptional online marketplaces to choose from, as our new report reveals.
Marketplace ecommerce is forecast to rise to 67% of global online transactions by 2022, according to Forrester, with emerging platforms set to shake up the sector.
Estimates from global payments firm WorldFirst and the Centre for Economics & Business Research also suggest that marketplace sellers will contribute £21.3bn to the British economy by 2020 – up from £11bn in 2016.
Big names such as Amazon, Alibaba and ebay are the dominant global players, but, as the popularity of this retail medium has grown, so too has the number of platforms launching in niche areas or new markets, or offering new and improved seller fees.
Our new report Marketplaces Deciphered, produced in association with ChannelAdvisor, profiles the marketplaces every retailer should have on their radar.
“As the popularity of this medium has grown, so too has the number of platforms launching in niche areas”
From luxury clothing and make-up to discounted electrical items – there’s a marketplace for everything.
And certain platforms are set to make waves as retailers look to target specific categories and territories. Here are just three examples:
Fruugo was set up for British retailers who aim to drive their products internationally.
With the help of features such as translation, localised payment services and localised customer service, through Fruugo UK retailers can access the European market in an easy, low-cost way.
The number of marketplaces with a niche product offering is set to grow across the board, but one to watch is ManoMano, launched in 2013.
The marketplace specifically sells DIY tools across Europe and has stringent regulations regarding the quality of products listed, as well as the delivery and customer service standards its retailers offer.
Mercado Libre may not be a household name in the UK, but it’s the key marketplace to list on in Latin America, with operations in 18 countries in the region.
Its Cross-Border Trade programme helps retailers bypass difficulties in calculating importation taxes and customs expenses, presenting buyers with a total landed cost at the checkout.
What’s more, Mercado Libre offers fulfilment from its US distribution centres, meaning that UK retailers need only be in the US market to access both South America and Mexico.
“Mercado Libre helps retailers bypass difficulties in calculating importation taxes and customs expenses”
The places to be
These are just a few of the marketplaces profiled in Marketplaces Deciphered: Your guide to unlocking global potential.
Delving into the pros and cons of established, growing and niche marketplaces, the report provides a comprehensive overview of which platforms retailers should be looking to invest in.
Download Marketplaces Deciphered to discover:
- The growth of marketplaces and why they’re so important
- The innovative strategies behind the global marketplace titans
- The niche and emerging marketplaces to consider – and the requirements to list on them
- The tips and tricks to capitalise on marketplace opportunities.