The big news story today is eBay announcing that it will stop working with PayPal as its back-end payments service in 2020. Modern marketplaces are bundles of vertically integrated services, payments are a big part of it. eBay independent from PayPal will do better.
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eBay marketplace has tens of millions of sellers selling worldwide, but the majority of sales is done by a small pool of top sellers. We estimate that top 5,000 sellers account for 25% of worldwide GMV on eBay.
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Amazon launched in Australia in December last year. One month later the marketplace attracted over 5,000 sellers. In fact, Amazon Australia is the fastest growing marketplace relative to its size. 55 new sellers join every day.
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Retail works best when it is boring, and profitable. As much as there is innovation on how customers shop, and what products get made, at the end of the day it is about supply and demand.
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Physical goods are rarely made in the US. Often the country of origin is China. China has been exporting goods to the US for decades, but now Chinese manufacturers want to sell direct-to-consumer. Marketplaces like Amazon are a perfect avenue.
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After much anticipation Amazon has quietly launched in Australia. This makes it the 13th marketplace. 24 hours after the launch the Amazon Australia marketplace has already grown to more than 2,000 sellers.
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"Cyber Monday 2017 was the biggest day ever for sellers on Amazon. From Thanksgiving to Monday, customers ordered nearly 140 million units from small businesses and entrepreneurs." - Jeff Wilke, CEO of Amazon Worldwide Consumer.
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Singles Day shopping event in China, which happens every year on November 11th, is like no other shopping event. In fact, it is the largest shopping event in the world. Many times larger than the Black Friday and Cyber Monday combined are in the US.
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In 2017 Q3 Mercado Libre's Gross Merchandise Volume (GMV) for the first time surpassed the $3 billion mark, reaching $3,075.3 million dollars. Up by 50.7% from the same quarter a year before.
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Jeff Bezos, CEO of Amazon, became the richest person in the world after Amazon's Q3 results beat expectations sending the stock 7% higher in after-hours trading. Third-party sales continue to grow faster than Amazon's own retail.
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