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Online marketplaces will gain further ground. Consumers will remain relatively cautious with their spending in 2024 and will appreciate the prices, selection, and convenience that online marketplaces offer. Secondhand shopping will continue to rise.

Online marketplace Meesho roughly doubled last year鈥檚 order volume in the first day of its 鈥淢ega Blockbuster Sale鈥� that began the same day, per Indian Retailer.

Even minimal investments in logistics, payments, or digital marketplaces could help drastically improve consumers鈥� online shopping experiences, all while giving them a fighting chance to gain market. Digital marketplaces fueled retailers鈥� bottom lines. Retail marketplace ecommerce sales growth outpaced total retail sales by a considerable amount.

Walmart鈥檚 ad revenues grow 28% in Q3: Flipkart drives 50% international growth, while Walmart Connect expands with more marketplace sellers.

Amazon launches Temu competitor Haul to maintain price advantage against online retailers: However, growing pains like shoddy AI-generated imagery could limit its traction with customers.

23.8% of US consumers say they鈥檝e spent between $2,500 to $5,000 on online shopping throughout the year, per June 2024 data by Narvar. Another 22.6% spent upward of $5,000.

Having multiple operating currencies may provide a more nuanced understanding of the video marketplace. It would also incentivize continued innovation among measurement vendors to ensure solutions evolve at an acceptable pace. But there are a lot of challenges standing in the way of a true multicurrency future, including:. Complexity for buyers.

The problem has become more pronounced due to the rapid growth of ecommerce, and online marketplaces in particular鈥攚hich we expect will account for 6.3% of total US retail sales this year, or nearly double the 3.4% share in prepandemic 2019.

Smaller businesses have grown reliant on online marketplaces operated by the likes of Walmart or Amazon, which make it easy for shoppers to consolidate their shopping. But relying on online marketplaces to drive sales comes at a significant cost.

Still, we expect its US marketplace sales to grow 136.5% this year to $19.39 billion鈥攅xceeding its total GMV in 2023. Go further: Read our report on The US Online Marketplace Shopper.

On today's podcast episode, we discuss why many retailers are choosing now to launch peer-to-peer marketplaces, why consumers might choose IKEA鈥檚 resale platform versus the already established players like Facebook Marketplace and eBay, and what they need to be successful. Listen to the conversation with our analyst Sara Lebow as she hosts analysts Sky Canaves and Sarah Marzano.

Growing its online sales. Walmart鈥檚 online sales will rise 10.9% this year, per our US Walmart retail ecommerce sales forecast. The retailer鈥檚 ability to drive sales on its website is essential to its ability to attract third-party sellers to its online marketplace, as well as advertisers to its Walmart Connect platform. Building out its online marketplace.