Spot the Best Selling Platforms to Maximise your Peak Season Reach
With the year’s busiest shopping season upon us, ShipStation presents a strategic deep-dive with the Peak Season Report 2023: Building a risk-resistant ecommerce strategy offering detailed research that explores the global retail arena and consumer preferences. This resource aims to empower your business with knowledge and strategies to leverage the best selling platforms, which are key for their diverse product range and competitive pricing, simplifying the decision-making process for time-sensitive shoppers.
These platforms not only dominate through variety but also in delivering value, capitalising on their scale to make healthy competition among sellers and, for those seeking even greater savings, offering memberships with benefits like complimentary delivery and exclusive deals. This strategic insight is designed to cement your place in the competitive market by identifying the best selling platforms and maximising their advantages.
The Marketplace Phenomenon
Ecommerce is experiencing a remarkable transformation, with online marketplaces and many at the centre of this seismic shift, particularly during the high-stakes peak season. Our meticulously compiled research forecasts a surge in sales through these best selling platforms, indicative of an undeniable pivot in consumer behaviour. An impressive 88% of global shoppers are poised to channel their holiday expenditures through ecommerce marketplaces, a trend that is rising. Household retail names like Macy’s and H&M, have easily adopted this burgeoning model, as these seasoned retailers are not just passively participating but are proactively enhancing their best selling platforms to accommodate third-party vendors. Such strategic expansion is designed to lure a broader consumer base, boost shopper engagement and nurture a robust sense of brand loyalty.
This initiative isn’t just a fleeting trend but part of a more extensive, strategic effort to command a significant presence in the digital domain, where consumer engagement and loyalty become the marks of commercial success. In the North American and European markets, we’re witnessing a major expansion in the digital marketplace realm. Sales figures in North America alone are forecasted to reach an astounding £145.9 billion, while the European Union’s marketplaces are also set to make a significant impact with a projected £35.1 billion in sales, and the United Kingdom in particular with a projected £17.8 billion in spending. This growth trajectory, which includes marketplaces projected to account for £202 billion in sales globally over the peak season, is more than numbers; it reflects the pivotal role that marketplaces, including industry giants like Amazon, Walmart, and eBay, as well as specialised platforms like Etsy, now play in the modern retail world, reshaping how consumers connect with and remain loyal to their preferred brands.
Consumer Behaviour and Best Selling Platforms
Marketplaces offer full access to international brands and niche products, all under one digital roof. This access is a significant factor why marketplaces rank among the best selling platforms, as they cater to the specific needs of many consumers. The ease with which consumers can compare products, read reviews, and make informed decisions without the need to switch between multiple tabs or apps is a testament to the user-centric design of these platforms. The added allure of customised shopping experiences, powered by sophisticated algorithms that suggest products based on browsing and purchasing history, make them even more appealing.
Additionally, the global reach of marketplaces means that consumers can shop from sellers across the world, finding unique items that aren’t available locally. Consumers have embraced this global mall concept, and our Peak Season Report 2023 goes into further detail about these consumer behaviours and how businesses can tap into them to maximise their sales.
Expanding Horizons with Online Marketplaces
Online marketplaces are increasingly becoming the go-to choice for consumers, mainly due to their ability to rapidly adapt to changing consumer trends and to introduce new product lines with ease. This agility is paramount during peak seasons, such as the upcoming holidays, where consumer preferences can shift almost overnight. Retailers are aware that positioning their offerings on the best selling platforms can provide an unparalleled advantage in terms of visibility and consumer reach.
The adaptability of these platforms is significantly enhanced by the integration with comprehensive shipping solutions like ShipStation, which streamlines the complexities of global logistics. Our platform offers online retailers an intuitive solution that consolidates order processing, provides efficient label creation, and enables easy carrier comparison to ensure cost-effective shipping options. By facilitating smooth integration with a wide array of ecommerce marketplaces and shopping carts, as well as a network of major shipping carriers, ShipStation optimises the fulfilment process, making it more accessible for businesses of all sizes to manage and dispatch orders on a global scale with confidence and ease.
Get Aligned with Consumer Demand
Moreover, the increasing desire for favourite brands and products to be accessible on marketplaces is a clear signal to retailers. Over half of consumers (57%) are expressing a preference for a more substantial presence of their preferred brands in online marketplaces. This trend presents a ripe opportunity for retailers to expand their reach and capitalise on the marketplace’s growth potential.
As we approach the peak season, the strategic importance of aligning with consumer demand and being present on the best selling platforms becomes ever more critical. Our latest studies underscore the necessity of understanding and utilising these platforms to their fullest potential; so make sure to check our Peak Season Report 2023: Building a risk-resistant ecommerce strategy. It offers a guide for tapping into the collective consumer mindset, ensuring that your business is not merely surviving but thriving amidst the festive frenzy.
