Sellers drive growth of marketplaces
More and more individual businesses are selling on marketplaces or do dropshipping. This caused a massive growth of these platforms. Brands and retailers see it as a huge opportunity toreach new audiences or work together with other retailers.
This is according to data from marketplace solution provider Mirakl. It surveyed 1,500 retailers selling on marketplaces in different countries. The survey tried to discover what sellers are looking for when choosing a platform and what strategy they use to grow their business.
Growth attracts more growth
There are some key insights from Mirakl’s Seller Report. One important insight is that growth of online marketplaces attracts more growth. The number of businesses that began selling on marketplaces in 2022 increased by 31 percent over the previous year.
“The number of businesses that began selling on marketplaces increased by 31% over the previous year.”
Once retailers start selling on their first marketplace, they will grow instantly. More than 53 percent of marketplace sellers surveyed are selling on more marketplaces than last year. And 62 percent expect to expand their businesses in the next year.
Different paths to success
The survey also shows that businesses choose different paths to success. Only 50 percent of companies drop their whole assortment on marketplaces. A quarter of sellers offer a small subset of their products. About 8 percent of sellers have no overlap between the offerings on their marketplace and other channels. The products sold on that marketplace are only sold there.
Sellers make it easier for operators
Attracting and retaining the best sellers is the most important thing for marketplace operators. At least 57 percent of retailers prefer to sell on marketplaces with a wide range of products and categories. On the other hand, 43 percent prefers marketplaces that offer more specific categories.
‘Sellers handle 99.8 percent of customer service inquiries on marketplaces.’
Sellers also make it very easy for operators by handling 99.8 percent of their customer service. This is how customers can trust that marketplaces offer a safe buying experience.