Small and medium-sized sellers are on the rise as they doubled their contribution in that same period and even tripled in 2020
Largest marketplace sellers account for nearly 90% of GMV. Source: pexels.com
According to Ecommerce News, large marketplace contributed 88% of marketplaces’ Gross Merchandise Value during the Q1 2021.
That’s one of many conclusions from the 2021 Enterprise Marketplace Seller Report by Mirakl. It examined the activity of 50,000 third-party sellers on over 70 e-commerce marketplaces worldwide.
The data found that 36% of sellers joined online marketplaces in just the last 15 months. Mirakl thinks that small to medium-sized sellers will continue to be a force in the coming years, as retailers look for unique product selections.
Mirakl states there are 3 primary types of sellers on enterprise marketplace, representing three main business models.
There’s the marketplace native seller (generating 63% of GMD across all marketplaces in Q1 2020), the brand seller (20%), and the e-commerce retailer (17%).
Another finding from the report is that almost half of all sellers are active on multiple marketplace. In fact, cross-marketplace coverage is on the rise, as sellers are seeking – and finding – expansion opportunities by partnering with leading retailers.”These partnerships often happen with different catalogs per marketplaces, as sellers proactively differentiate their assortment to match the needs of each partner.
Third-party sellers are popular among online shoppers. This is shown by the fact that they outperform traditional e-commerce benchmarks when it comes to assortment quality and customer service. These sellers earn a 4.5 out of 5 ratings from shoppers, have lower refund rates (50% lower than traditional e-commerce) and fewer customer service inquiries per order than first-party sellers.
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