The Enterprise Marketplace Index is the industry’s largest compendium of third-party marketplace insights, representing 60 global retailer marketplaces offering over 60 million products across more than 50,000 sellers.
March 2021 Release | Global Retail
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The Enterprise Marketplace Index highlights the benchmark metrics that retailers must know and measure to achieve growth and success with the marketplace model.
Marketplace retailers rapidly expanded their network of sellers by an average of 46% in the past year. Additionally, GMV per seller increased 24%. Taken together, the increase in sellers, and the GMV per seller growth delivered 81% marketplace GMV growth.
The concurrent rises in seller count and GMV per-seller proved that sellers do not cannibalize one another’s growth, but rather created incremental growth opportunities for existing sellers — inclusive of a retailer’s traditional first-party product offering.
The increase in product assortment of 32% gave rise to an even larger gain in overall GMV of 81%, proving that the increase in products doesn’t cannibalize but rather is additive to the entire product catalog, and in turn the entire shopping experience.
“At Madewell, we take pride in our Labels We Love marketplace being a true destination for discovery. The marketplace is carefully curated and features cool, design-forward brands and makers, all of which were hand selected by the Madewell team to ensure that we’re offering high-quality products that have the same synergy as our distinct point of view and values. It allows us to introduce more brand we love to our customers, offer new product on a frequent basis and build out our assortment in new ways.”
Derek Yarbrough, Chief Marketing Officer
To learn more about Madewell’s marketplace strategy
A more complete view of a marketplace’s impact on a retailer includes the boost effect to the entire eCommerce site, more specifically traffic growth.
With rising customer acquisition and traffic costs, the marketplace model helps retailers increase site visits by expanding product choice and selection, and without additional marketing spend.
The product of GMV per seller and commission rates provides the clearest measure of the direct impact of marketplaces: revenue contribution.
For the full story and insights
from Catch
Innovative retailers operating an enterprise marketplace have paved a path to achieve higher – and sustainable – growth by turning to a curated network of third-party sellers.
These third-party selling partners provided retailers with:
Marketplace retailers found a scale solution to the most central act of retailing: connecting shoppers to products, recasting themselves as something more: trusted shopping destinations poised to win in a rapidly growing but increasingly competitive environment.
The Enterprise Marketplace Index is a set of aggregated and anonymized insights of B2C marketplaces powered by Mirakl’s platform. Strict aggregation measures are employed to ensure customer anonymity. These measures include requirements on comparison set size, diversity, and consistency, in order to present credible and reliable information that is insulated from concentration risk, and can not be reverse-engineered to identify any specific customer or marketplace.
To qualify for inclusion in the analysis set, a marketplace must have transacted throughout the entire analysis period, in this case Q4 2019 through Q4 2020. Additional data hygiene factors are applied to ensure accurate metric calculation.
Data footnotes are noted throughout the report to provide additional clarity on analysis.
The Enterprise Marketplace Index is not directly indicative of the operational performance of Mirakl or its reported financial metrics, including GMV growth.
Marketplace growth is measured by GMV growth year-over-year, of same-marketplace-sales across 60 global marketplaces powered by Mirakl.
eCommerce growth is calculated as an aggregate average of leading eCommerce sources and/or sites from across the globe:
Adobe Digital Economy Index, Amazon GMV growth, Ebay GMV growth, FEVAD, Salesforce Shopping Index, T Mall GMV growth, US Department of Commerce.
Additional industry intelligence, including traffic analytics, is sourced via SEMRush.
