The global online marketplace industry grew by more than 80 per cent year over year in the fourth quarter of 2020, according to a new, first-of-its-kind study by technology company Mirakl.
Mirakl’s research, the 2021 Enterprise Marketplace Index, found that marketplaces globally grew at more than double the rate of overall e-commerce growth thanks to the shift in consumer behaviour online seen during the Covid-19 pandemic.
The index also noted the changes to marketplace behaviour during the pandemic, noting how sellers increased product assortment by 32 per cent on average, leading to an overall gain in GMV of 81 per cent.
“Every retailer needs a strong grasp on marketplace strategies to compete in today’s digital-first economy, and the index provides them with a blueprint to do just that,” said Adrien Nussenbaum, co-founder and U.S. chief executive of Mirakl.
The data came from more than 60 third-party marketplaces across the globe, including Catch Group.
“The sellers on Catch’s marketplace are the fuel powering our astronomical marketplace growth,” said Pete Sauerborn, managing director at Catch.
“This combination of sourcing new trusted sellers and ensuring that every one of our sellers has the data and support they need to grow are the key to Catch’s success.”