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Online Marketplaces Lead in Product Discovery
Online marketplaces play an increasingly important role not only as a place to purchase but also as the first point of contact with customers.
47% of consumers begin their product search on marketplaces, surpassing traditional search engines. This development reflects a shift in shopping behaviour that emphasises convenience, wide selection, and speed, requiring brands to adapt their strategies. The report reveals that modern consumers often combine different platforms, visiting an average of four marketplaces before making a purchase decision.
Nearly half (47%) of online shoppers now begin their product search on marketplaces, surpassing search engines (24%). This shift emphasises the importance for brands to prioritise visibility on platforms such as Amazon, Bol, and other specific marketplaces.
Customer Reviews Influence Decisions but Lack Trust
Customer reviews play a key role in purchase decisions, influencing 77% of shoppers. However, only 33% of respondents fully trust reviews, highlighting ongoing issues with fake reviews. Brands can mitigate this by utilising programmes such as Amazon Vine or relying on marketplace tools to encourage authentic feedback.
Source: Channelengine
The Power of Impulse Purchases
Marketplace design encourages browsing. Partly due to this, 56% of shoppers admitted to making unplanned purchases. Features such as “customers also bought” and bestseller recommendations have proven effective in influencing these decisions.
Preference Over Brand E-shops
63% of shoppers prefer shopping on marketplaces over brands’ own e-shops. Deciding factors include diversity, convenience, and competitive prices. Baby Boomers particularly value product variety, whilst Millennials and Generation Z focus on speed and simplicity.
Multi-channel Approach is Essential
Consumers visit an average of four marketplaces during their shopping process. Therefore, a multi-channel approach is worth considering. Limiting sales to one marketplace risks missing out on sales.
Trust Issues Persist
Whilst previous lines might suggest that marketplaces are bulletproof tools, not everything is ideal here either. Shoppers identified poor product quality, unreliable sellers, and refund issues as the main factors undermining trust in marketplaces.
Investing in robust customer service and tools can help brands protect their reputation.
Best-selling Categories
The most popular product categories on marketplaces include Home and Living, Clothing, and Electronics. These categories have high levels of browsing and purchasing, making them key areas for brand focus.
Alongside all this, we cannot forget about Social Commerce. Although still developing, 40% of shoppers have already purchased directly through social media. Facebook took first place, and TikTok Shop is also showing rapid growth. Opportunities exist for brands to utilise social commerce.
The report states that 2 in 5 customers have already shopped on social media platforms, and 24% would purchase from there again.
The report confirms that online marketplaces have taken hold in Europe. It is essential for brands and sellers to implement a data-driven strategy that includes using multiple sales channels. With the help of tools available on marketplaces and by expanding their presence, companies can better respond to customer needs and maintain a competitive advantage in a dynamic market.
