The Latest Online Marketplace Industry Statistics Explained
U.S. GMV (Gross Merchandise Volume) for marketplaces is estimated to grow about 17% in 2021.
The statistic stating that the U.S. Gross Merchandise Volume (GMV) for marketplaces is projected to increase by approximately 17% in 2021 indicates a significant expected growth in the total value of goods sold on online platforms and marketplaces within the United States. This growth forecast suggests that there will be a substantial rise in the volume of transactions conducted through e-commerce channels, reflecting increased consumer activity and spending in the online marketplace space. Such growth can have implications for various stakeholders, including businesses, consumers, and policymakers, and may signal broader trends in consumer behavior, market dynamics, and economic activity in the digital marketplace ecosystem.
With 13.6 million sellers, China has the largest number of online marketplace sellers.
The statistic indicates that China boasts the largest number of online marketplace sellers globally, totaling 13.6 million individuals engaged in selling goods or services through various online platforms. This significant figure showcases the widespread participation and competitiveness within China’s e-commerce sector, reflecting the country’s robust digital economy and entrepreneurial spirit. The diverse online marketplace landscape in China offers a wide array of opportunities for sellers to reach a vast consumer base, driving innovation and economic growth within the market. The statistic highlights China’s prominence in the digital marketplace realm and underscores the country’s pivotal role in shaping the global e-commerce landscape.
92% of online sellers use marketplaces to sell their products.
The statistic ‘92% of online sellers use marketplaces to sell their products’ indicates that a vast majority of individuals or businesses who sell goods online choose to do so through online marketplaces rather than through their own independent platforms. This high percentage suggests that marketplaces such as Amazon, eBay, and Etsy are widely relied upon by online sellers to reach a larger audience, take advantage of established customer bases, and benefit from the infrastructure and features offered by these platforms. The popularity of marketplaces among online sellers may be driven by factors such as ease of use, access to a broad customer base, built-in payment systems, and marketing tools, making them attractive options for individuals looking to establish or expand their online selling presence.
By 2022, over two-thirds of consumer goods will be sold via online marketplaces.
The statistic “By 2022, over two-thirds of consumer goods will be sold via online marketplaces” indicates a significant shift in the retail landscape towards e-commerce platforms. This projection suggests that a majority of consumer goods transactions will occur through online marketplaces such as Amazon, eBay, and Alibaba, as opposed to traditional brick-and-mortar stores. This trend can be attributed to changing consumer behavior, increased internet penetration, convenience, and a wider variety of products available online. It highlights the growing importance of digital channels in the retail industry and underscores the need for businesses to adapt their strategies to capitalize on this shift towards online marketplaces.
In 2021, the global e-commerce market is estimated to reach $4.89 trillion.
The statistic that “In 2021, the global e-commerce market is estimated to reach $4.89 trillion” represents the predicted total value of online retail transactions worldwide for the year 2021. This figure demonstrates the immense growth and significance of the e-commerce industry on a global scale, highlighting the increasing shift towards online shopping by consumers and businesses. The substantial amount of $4.89 trillion reflects the overall economic impact and opportunities presented by e-commerce, including the expansion of digital platforms, the rise of online marketplaces, and the ongoing digital transformation of traditional brick-and-mortar businesses. This statistic serves as a key indicator of the continuing trend towards digital commerce and the importance of adapting to the changing landscape of retail in the modern era.
82% of UK online shoppers use Amazon as their preferred marketplace.
The statistic signifies that a majority of online shoppers in the UK, specifically 82%, prefer to use Amazon as their primary marketplace when making purchases. This high percentage indicates that Amazon holds a significant market share in the online retail industry in the UK and is a popular choice among consumers for buying goods and services. The data suggests that Amazon has successfully established itself as a dominant player in the UK e-commerce market, attracting the majority of online shoppers to its platform for their shopping needs.
Alibaba’s China retail marketplace revenue is expected to reach $63.42 billion by 2024.
The statistic states that Alibaba’s China retail marketplace revenue is projected to increase to $63.42 billion by the year 2024. This indicates anticipated significant growth in the company’s retail business in the Chinese market over the next few years. Such growth can be attributed to various factors, including the increasing adoption of e-commerce in China, Alibaba’s expanding customer base, and its efforts to improve its product and service offerings. This statistic reflects Alibaba’s strong position in the retail market in China and suggests a positive outlook for the company’s future financial performance.
In 2020, 57% of global web sales happened on marketplace platforms.
The statistic “In 2020, 57% of global web sales happened on marketplace platforms” indicates that more than half of all online sales worldwide that year were conducted through marketplace platforms such as Amazon, eBay, and Alibaba. This suggests a significant trend towards consumers preferring to use these centralized online marketplaces to make purchases, as opposed to individual retail websites. The dominance of marketplace platforms in global web sales highlights the importance of these platforms in shaping the e-commerce landscape and the strategies that businesses must adopt to compete effectively in the online marketplace.
An estimated 7.1% of all global digital buyers are anticipated to come from emerging economies by 2024.
This statistic indicates that, by the year 2024, it is projected that approximately 7.1% of all individuals who engage in digital shopping worldwide will be situated in emerging economies. Digital buyers refer to consumers who make online purchases, indicating a growing trend towards e-commerce in developing regions. The anticipated increase in digital buyers from emerging economies suggests a shift towards greater utilization of digital platforms for shopping purposes in these regions over the next few years, reflecting the expanding reach of online retail and the potential for economic growth and development through digital commerce in these markets.
Top reasons people shop at a marketplace are price (65%), free shipping (64%), and selection (62%).
The statistic indicates that the top reasons people choose to shop at a marketplace are price, free shipping, and selection. The percentages show the relative importance of each factor, with price being the most significant at 65%, followed closely by free shipping at 64% and selection at 62%. This suggests that consumers prioritize affordability and cost-saving opportunities when making purchasing decisions, while also valuing the convenience of free shipping and a wide range of products to choose from. Understanding these factors can help marketplace operators and retailers tailor their strategies to meet customer preferences and attract more shoppers.
In 2020, Google Shopping was the fastest growing online marketplace with a 52% surge in GMV.
The statistic indicates that in 2020, Google Shopping experienced the highest growth rate among online marketplaces, with a 52% surge in Gross Merchandise Value (GMV). This suggests that Google Shopping saw a significant increase in the total value of goods sold through its platform compared to the previous year. The growth rate is particularly noteworthy as it outpaced other online marketplaces, showcasing Google Shopping’s relative success and popularity in the e-commerce space during that time period. The 52% surge in GMV highlights the platform’s ability to attract both consumers and sellers, leading to increased sales and overall market share.
87% of online shoppers consider delivery speed as a key factor when choosing at which online marketplace to shop.
The statistic indicates that a significant majority of online shoppers, amounting to 87%, prioritize delivery speed as a crucial factor when deciding where to make their online purchases. This suggests that consumers place a high value on efficient and timely delivery services, potentially influencing their choice of which online marketplace or retailer to patronize. As such, businesses operating in the e-commerce space should take note of the importance placed on delivery speed by consumers and ensure that they have streamlined and effective logistics and fulfillment processes in place to meet these expectations and remain competitive in the online retail landscape.
62% of online sellers consider marketplaces trustworthy as per a 2020 report.
The statistic indicates that 62% of online sellers perceive marketplaces as trustworthy based on a report from the year 2020. This implies that a majority of individuals who sell goods or services online have confidence in marketplaces as reliable platforms for conducting business transactions. This level of trust could stem from factors such as marketplace regulations, reputation management, payment security, and dispute resolution processes that contribute to the perceived trustworthiness of these online marketplaces. As a result, this statistic highlights the significant role that marketplaces play in facilitating e-commerce activities and suggests the importance for online sellers to leverage these platforms for their business endeavors.
From Q1 of 2020 to Q1 of 2021, the GMV of top online marketplaces grew by 50%.
This statistic indicates that the gross merchandise value (GMV) of the leading online marketplaces increased by 50% from the first quarter of 2020 to the first quarter of 2021. GMV represents the total sales value of goods and services transacted through these platforms. The 50% growth suggests a substantial increase in economic activity on these marketplaces over the one-year period, reflecting a combination of factors such as increased consumer demand, expansion of product offerings, and potentially a shift towards online shopping due to external events like the COVID-19 pandemic. This growth in GMV highlights the significant role that online marketplaces play in the digital economy and indicates a positive trend in online commerce during the specified time frame.
37% of online marketplace sellers in the U.S. earn more than $100,000 in sales per year.
The statistic indicates that 37% of online marketplace sellers in the U.S. generate annual sales exceeding $100,000. This suggests a substantial portion of online sellers achieve a high level of financial success through their sales activities. This data point highlights the potential for profitability in the online marketplace sector and signifies that a significant number of sellers are able to generate substantial revenue through their online endeavors. It may also indicate a thriving and competitive market environment where sellers have the opportunity to achieve significant levels of sales success.
Conclusion
The online marketplace industry continues to experience significant growth and innovation, with an increasing number of buyers and sellers turning to digital platforms for their purchasing needs. The statistics highlighted in this blog post demonstrate the immense opportunities and challenges present in this dynamic sector. As the industry evolves, businesses must stay up-to-date with the latest trends and consumer preferences to remain competitive in this ever-changing landscape.
References
0. – https://www.www.bigcommerce.com
1. – https://www.www.statista.com
2. – https://www.www.retail-systems.com
3. – https://www.www.feedvisor.com
4. – https://www.www.emarketer.com
5. – https://www.tamebay.com
6. – https://www.www.digitalcommerce360.com
7. – https://www.www.ecommercegermany.com
