Amazon, Shopify and others are feeling the sting of slowing online sales in early 2022. It’s likely transitory as physical and online retail rebalance for what could be a lengthy recovery.
Even though social sites are being leveraged by more sellers as sales channels and under bad stock market news, marketplaces are thriving and their business remains strong.
For the PYMNTS report, “Online Sellers: The Future is Multi-Channel,” we surveyed over 300 online merchants with revenues of at least $500,000, deriving 40% or more of their revenue from marketplace sales. Steps. Let’s look at three telling data points.
- 61% of online sellers say they have increased their marketplace usage over the past year.
Of the two profiles of sellers defined in our research — “marketplace addicts” who make up to 75% of their sales through marketplaces, and marketplace-native businesses, who generate more than 75% of their sales on marketplaces — both groups have increased their usage over the past year.
Among large multi-product merchants, 68% increased market usage over the previous year, “as did 68% of businesses that earn more than $100 million a year. The statistics are especially similar among new businesses. : 69% have increased their online presence in the last year, while only 54% of companies in business for 20 years or more have done the same.
- 42% of online sellers operate through four or more marketplaces.
With only 7% of online sellers of either type making 100% of sales in a single marketplace, the trend among sellers is diversification of sales channels, as the data shows.
“Proprietary websites and social media are the most common non-market channels for these businesses: 61% of omnichannel sellers use proprietary websites to sell their products, and 58% use social media,” according to the study, which also revealed that 75% of all sellers list with Amazon.
- 92% of sellers say analytics is their most used marketplace service
It would be easy to think that Fulfillment By Amazon (FBA) logistics is the service most used by online sellers, but our research reveals that sellers are more interested in metrics, looking at what sells, what doesn’t. not sell and other salient issues. impacting inventory decisions and more.
“In addition to building customer reach using marketplaces, PYMNTS research found that customer analytics is the most common service used by sellers across all segments to help them reach more customers. potential buyers, with 92% of sellers surveyed doing so,” according to the study.
See the study: Online sellers: the future is multi-channel
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NEW PYMNTS DATA: THE TRUTH ABOUT BNPL AND STORED CARDS – APRIL 2022
On: Shoppers who have store cards use them for 87% of all eligible purchases – but that doesn’t mean retailers should start buy now, pay later (BNPL) options at checkout. The Truth About BNPL and Store Cards, a collaboration between PYMNTS and PayPal, surveyed 2,161 consumers to find out why providing both BNPL and Store Cards is key to helping merchants maximize conversion.
