According to Digital Commerce 360 (2019), 35 percent of consumers shop at niche marketplaces, especially for apparel, sneakers and other footwear, and home products. Higher consumer expectations for personalization are fueling the emergence of more niche, consumer-specific sites-for instance, rental and consumer-to-consumer (C2C) services that appeal to Gen Z and the Millennials. We see large and small marketplaces sharing a handful of “must haves,” or core characteristics, and “nice to haves,” or extended service offerings (Exhibit 1).įorces shaping digital marketplaces today and tomorrowįour trends are driving the continued growth of digital marketplaces. To inform the decision making, we offer a brief overview of them and some of the strategic and operating questions brands should address. Savvy industry players are looking long and hard at whether and how to participate in digital marketplaces. More than one in four apparel searches now begins on Amazon, for example. ![]() and they are continuing to change the way consumers shop. Almost 60 percent of these marketplaces are based in the United States, 2 Fareeha Ali, “What are the top online marketplaces?,” Digital Commerce 360, March 10, 2020,. Before COVID-19, marketplaces rang up half of global online sales-$2 trillion on the top 100 sites. 1 Forrester Consumer Technographics Covid-19 survey. As a result of marked shifts in consumer behavior during the COVID-19 pandemic, digitization has accelerated even further: 40 percent of consumers are buying more online than they had previously done. Digital marketplaces have been the buzz of the consumer industry for the past several years, yet many brands and retailers still struggle to understand if and how to partner successfully with them.
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