Study shows eBay and Amazon achievements in the UK marketplace
The total UK online marketplace spend is about to reach over €30.4 billion, Ecommerce News reports. It’s also expected to rise €15.2 billion over the next 5 years, increasing by 50.1%. Amazon and eBay dominate among the online marketplaces in the UK, accounting for about 90% of all the money spent at the online marketplace in 2019, according to GlobalData.
What is more, Amazon and eBay will contribute to the rise of new products, thus giving a chance for aspiring entrepreneurs’ revenue growth. Over the next 5 years, the spend on new items will grow 53.9%, whereas second-hand spends will boost to 29.8%.
The report shows that the total amount of second-hand items will account for less than 20% of the total online marketplace spend in 2019.