We asked, and you answered! Recently, we asked our followers to vote on which marketplace has the most opportunity to drive growth for their business in 2022. There were four options to select from;
- Social (TikTok, Instagram, etc)
- Other marketplaces
Our team at Teikametrics was curious to understand, from a user-generated perspective, which marketplaces brands and sellers are currently on and where they want to be selling in the future. Many brands today are leveraging a multi-channel approach in their ecommerce growth strategy due to significant changes in costs, competition and consumer behavior.
Where Did These Marketplaces Start?
Many know Walmart from their brick and mortar presence. However, back in 2009 Walmart rolled out its Walmart Marketplace and stepped into the online marketplace ecosystem. This platform now boasts over 200 million customers visiting its site each week. Learn more about Walmart statistics you should know here.
As we see ecommerce rise, we are seeing more and more social platforms cash in on the opportunity and invest in in-app shopping. As of 2022 in the US, 36% of internet users purchase products via social media (a 20% increase from 2020). Some might even say that social media is the future of ecommerce.
Despite what the poll shows, I wouldn’t count eBay out just yet. This marketplace began back in 1995 as an auction platform. Since the ’90s, this platform has transformed to now have over 1 billion listings on its site as of 2021. They have even initiated the buying and selling of NFTs!
What Marketplaces Are Sellers Looking Toward?
Let’s dive into those results. With over 100 responses to our poll, we saw an overwhelming response for Walmart and social platforms as the marketplaces with the greatest opportunity. Coming in first place, with 47% of the votes, are social platforms. Following closely behind with 44% of the votes is Walmart. In third place, we see a major dip with 4% of votes going to eBay and another 4% going to other marketplaces.
It’s not surprising that sellers and brand owners are looking to diversify their marketplaces. Amazon’s rules change frequently, and the platform gets more and more competitive every year. The fact that e-commerce brands are exploring other marketplaces shows that they are being more strategic
Teikametrics wants to learn more about where you are now and where you want your business to be in the future. We’re compiling data from thousands of sellers and brands to help you identify the marketplaces with the most opportunity for growth. Take a moment to fill out this anonymous survey. The more people that contribute, the more data we will be able to share, thus allowing for a big-picture perspective on the pulse of this industry.
Take a sneak peek at some of the questions:
- Do you currently sell on more than one marketplace?
- Which marketplaces do you currently sell on?
- What marketplaces do you think have the most opportunity for brand growth?
- In your opinion, what is the most challenging aspect of selling via ecommerce?
How Can Sellers Use This Marketplace Data?
It is well known that data holds extensive power when it comes to a seller’s multichannel strategy. We want to share this data with all sellers and brands to help you slam dunk on your multi-channel strategy in 2022 and beyond.
The data gathered in this poll will be shared throughout Marketplace Madness sessions to help sellers understand where thousands of people are now and where they are headed. This is a great indicator of where your competitors are and the general movement of the market.
Register for Marketplace Madness
Click here to register for Marketplace Madness where we’ll give you, even more, data and information on multichannel selling.
On top of the data we are compiling from this poll, Teikametrics is in a position to aggregate data across multiple marketplaces, data that no one else has access to. We are piecing it all together in one location for brands and sellers to devise a playbook to build a connected multi-channel approach.
Not only are we sharing the data with everyone that shows up to Marketplace Madness, but we are giving everyone that shows up actionable strategies that are based on all that data from individual platforms as well as interconnected platforms. From this data, you are able to approach selling across multiple marketplaces in ways that haven’t been possible before.