Video Course: Build a Successful Marketplace

This ten-step video course takes you through your marketplace journey all the way from idea to scaling your business. Each step is packed with the latest marketplace facts, actionable advice, and relevant case studies. The first step of any marketplace journey is coming up with a marketplace idea. This video tells you what makes an excellent marketplace idea and, most importantly, where to find one.

Conversion 2023: Spotting a Resilient Shopper

There is a great deal of discussion about resilient retailers, so I decided it might be interesting to talk about how a retailer just might spot a resilient shopper. I offer tips about behavior supported by findings from our Digital Commerce 360 and Bizrate Insights conversion survey of 1,060 online shoppers conducted in January 2023. Throughout this post, I will also incorporate gender and age cuts that truly tell the underlying story.

Values of an Online B2B Marketplace for Retailers and Wholesale Brands

Having an online presence is becoming the standard for retail businesses today and B2B wholesale is no exception. B2B online marketplaces focused on eCommerce in particular have grown and maintained as a vital online sales channel in the past few years. “With sales on B2B marketplaces increasing 5.3 times from 2020 to 2022 and projected to grow 7.2x faster than all B2B eCommerce” according to Digital Commerce 360, it is apparent where B2B decision makers are going to do their business.

Majority of Consumers Expect to Increase Online Spend, With Marketplaces Leading The Way 

71% of consumers say that they expect to move more of their spending online in the next 12 months to find better value, with marketplaces driving this shift. According to the its annual consumer data report from Mirakl, the data reveals the urgent need for consumer-facing businesses to focus on providing more products at competitive price points to maintain customer loyalty. The study finds that online shopping becomes a defining habit for today’s consumer, with roughly half (51%) of global respondents likely or very likely to do the majority of their shopping online in 2023.

Personalization Doesn’t Mean What Retailers Think it Means Anymore

Picture this: It’s Cyber Monday and each member of the Smith family has decided to buy a new pair of sneakers to wear on the family’s upcoming vacation. Mom knows the exact brand, style and color she wants, and she needs her shoes delivered in two days or less. She pulls out her tablet and checks Amazon.com, then searches two other online marketplaces before finding a site that checks all her boxes. At the same time, dad types “men’s running sneakers” into Google on his desktop. He quickly scans the list of ads at the top of the search returns, looking for the lowest-priced pair from a popular brand before purchasing. Meanwhile, their son scrolls through TikTok on his phone, sees an influencer he follows wearing a cool pair of kicks and immediately clicks to buy from the link in the bio.

E-Commerce Retail Just Passed $1 Trillion For The First Time Ever

Digital commerce just passed the $1 trillion mark in a single year for the first time ever, according to Comscore. E-commerce hit $1.09 trillion in the U.S. in 2022, with the last quarter accounting for $332.2 billion, the analytics and measurement company said in an exclusive to Forbes. This doesn’t include travel, which would likely add a few hundred billion dollars of revenue. A key driver? Mobile, which grew at twice the rate of desktop e-commerce.

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