eBay increased gross merchandise volume (GMV) by $14.4 billion in 2020, more than in the past seven years combined. However, despite the platform benefiting from surging online sales, growth had slowed towards the end of the year.
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In 2020, sellers on the Amazon marketplace sold $300 billion worth of goods, adding a staggering $100 billion net growth since 2019. The total gross merchandise volume (GMV), including sales by Amazon itself and by the marketplace, was almost $490 billion, according to Marketplace Pulse estimates based on Amazon disclosures.
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The importance and thus also the risk of managing customer expectations for Amazon were the highest ever during the 2020 holiday shopping season. It did ok - unlike in previous years, there was no noticeable increase in negative shopper sentiment.
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2020 was the best year for e-commerce marketplaces in over a decade. E-commerce growth had a step change, and marketplaces captured most of it. In aggregate, it was the most successful year for sellers and brands that transact through them, too. The Year in Review looks at the state of marketplaces and describes the most important trends.
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For the past two quarters, Walmart’s marketplace GMV has more than doubled compared to last year. The marketplace growth has been outpacing first-party sales growth for at least as long too.
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Walmart launched a Pro Seller badge that highlights and rewards top-performing sellers. 350 out of the 60,000 sellers on Walmart have it. The badge appears to be an attempt to increase conversions for sellers with the badge, thus incentivizing others to achieve it too.
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Amazon started displaying business names and addresses for the millions of sellers in the U.S. marketplace on September 1st. The change puts the U.S. marketplace in line with its European, Japan, and Mexico marketplaces, where local laws require business details to be public.
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Every year at least tens of billions of dollars worth of goods are sold directly from China to consumers in the US and elsewhere. Without the excitement, attention, and venture capital other parts of e-commerce have received, it is this quiet industry capturing the profits. It didn’t exist before 2010.
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Shopify’s Gross Merchandise Volume (GMV) for the second quarter was $30.1 billion compared to eBay’s $27.1 billion. For the first time, Shopify processed more transaction volume than eBay. Shopify is not a marketplace directly comparable to eBay; however, like all e-commerce companies, they compete for the same customers.
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Walmart marketplace has surpassed 50,000 sellers, doubling in size from July 2019. The partnership with Shopify, announced on June 15th, has accelerated its growth, bringing over 5,000 new sellers during the six weeks since.
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