Stay ahead of the curve and future-proof your business with Mintel’s UK Online Retailing: Marketplaces and Peer-to-Peer Selling Market Report 2023. Our full report is packed with consumer-led market intelligence, the latest market research, trends and consumer behaviours affecting your business. Get a 360° view of the online marketplaces industry, including market size, share and forecasted growth to help you align your business strategy with the needs of your audience.
Below, we’ve handpicked the key insights analysed in the full report and summarised the core topics.
Topics Analysed in this Report
- The impact of the cost of living on consumers’ use of the online marketplace industry and peer-to-peer selling market sites.
- The size of the online marketplace industry and peer-to-peer selling market, brand image and notable innovations from the past year.
- Demographic analysis of the use of online marketplace and peer-to-peer selling market sites and products purchased via such sites.
- Satisfaction with shopping with marketplace and peer-to-peer sites and attitudes towards price, quality and service in the sector.
- Use of marketplace/peer-to-peer sites to sell products, products sold and barriers to selling online
Online Marketplace Industry: Current Outlook
Pressure on finances during the cost of living crisis has driven higher use of marketplace and peer-to-peer sites, both on the buying and selling side. However, improving confidence and finances pose a threat to this uptick in use, particularly in the peer-to-peer selling market.
- Peer-to-peer selling market size: Mintel estimates that the online marketplace industry and peer-to-peer selling market will experience growth of 4.1% in 2023.
Online Marketplace Industry: Challenges and Opportunities
Highlight trust and credibility
Temu’s entrance to the UK market in April 2023 has been the most notable launch in the online marketplace industry. While this low-price operator has disrupted the space, there is little loyalty. In the longer term, value for money will win over consumers, retailers will need to focus on the quality aspect of the products.
Fashion dominates sales
Fashion remains the most purchased category via the online marketplaces industry and peer-to-peer selling sites, with a specific peak in purchasing among female shoppers. In part, this has been driven by the recent youth-focused sustainable fashion, and pre-loved luxury and hard-to-find items.
- Online retail market research statistics: 44% of consumers who have shopped on online marketplaces or peer-to-peer sites have purchased clothing or footwear.
Purchase our UK Online Retailing: Marketplaces and Peer-to-Peer Selling Market Report to receive a five-year forecast, consumer behaviour analysis, and recommendations for market opportunities. Readers of this report may also be interested in our UK Online Retailing Market Report 2023.
Brands Featured in the Full Report
eBay, Amazon, Etsy, Facebook Marketplace, Vinted, Not On The High Street, Gumtree, Wish, Depop, Preloved, Temu.
Expert Insights from a Retail Analyst
This report, written by Nick Carroll, a leading research analyst, delivers in-depth commentary and analysis to highlight trends in the online marketplace industry and add expert context to the numbers.
Pressure on finances has led to an uptick in use, both on the buying and selling side of the sector. This needs to be used to build the foundation of long-term growth.
Nick Carroll
Category Director – Retail Insight
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- Key issues covered in this Report
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Executive Summary
- Opportunities for the marketplace/peer-to-peer sector
- Market dynamics and outlook
- Graph 1: all online retail sales (including VAT), market size and growth, 2018-23
- Graph 2: total online sales as a percentage of total retail sales (excluding fuel), 2021-23
- Graph 3: estimated value of sales through marketplaces and peer-to-peer sites, 2018-23
- What consumers want and why
- Graph 4: marketplaces/peer-to-peer sites shopped with in the past 12 months, 2022-23
- Graph 5: “Financial concerns have caused me to shop on online marketplaces/peer-to-peer sites more in the last 12 months”, 2023
- Graph 6: products purchased via marketplace/peer-to-peer sites, 2022-23
- Graph 7: satisfaction with the marketplace/peer-to-peer site most recently used, 2023
- Graph 8: marketplaces/peer-to-peer sites used to sell products in the last 12 months, 2022-23
- Graph 9: reasons for not selling products online in the past year, 2023
- Marketplace/peer-to-peer site activity
- Graph 10: estimated market share of leading marketplace and peer-to-peer sites, 2022
- Graph 11: attitudes towards and usage of select brands operating in the marketplace sector, 2023
- Graph 12: total above-the line, online display and direct mail advertising expenditure by leading marketplaces/peer-to-peer sites, 2019-23
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Market Dynamics
- Market size
- Graph 13: all online retail sales (including VAT), market size and growth, 2018-23
- Graph 14: total online sales as a percentage of total retail sales (excluding fuel), 2021-23
- Graph 15: estimated value of sales through marketplaces and peer-to-peer sites, 2018-23
- Macro-economic factors
- Graph 16: CPI inflation rate, 2021-23
- Graph 17: all retail sales (excluding fuel), non-seasonally adjusted year-on-year performance by value and volume, 2022-23
- Graph 18: “To what extent are you worried about how the following issues might affect your household finances over the next two months?”, 2023
- Graph 19: “How do you think the following will change over the next year?”, 2023
- Graph 20: the financial wellbeing index, 2016-23
- Graph 21: the financial confidence index, 2016-23
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What Consumers Want and Why
- Who shops with marketplace/peer-to-peer sites
- Graph 22: “Financial concerns have caused me to shop on online marketplaces/peer-to-peer sites more in the last 12 months”, 2023
- Marketplaces/peer-to-peer sites used
- Graph 23: Amazon use, by method of shopping the platform, 2023
- Graph 24: marketplaces/peer-to-peer sites shopped with in the past 12 months, 2022-23
- Graph 25: demographic profile of marketplace/peer-to-peer site use, by age and household income, 2022
- Products purchased via marketplaces
- Graph 26: products purchased via marketplace/peer-to-peer sites, 2022-23
- Satisfaction with marketplace shopping
- Graph 27: satisfaction with the marketplace/peer-to-peer site most recently used, 2023
- Selling products online
- Graph 28: marketplaces/peer-to-peer sites used to sell products in the last 12 months, 2022-23
- Graph 29: “Financial concerns have caused me to sell more products on online marketplaces/peer-to-peer sites in the last 12 months”, 2023
- Graph 30: demographic profile of marketplace/peer-to-peer site use, buying and selling, by age and household income, 2022
- Reasons for not selling products online
- Graph 31: percentage of marketplace/peer-to-peer site buyers who also sell through the platform, 2023
- Graph 32: reasons for not selling products online in the past year, 2023
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Retailer Activity
- Leading marketplace operators
- Graph 33: breakdown of global Amazon net sales by business segment, 2019-22
- Graph 34: estimated market share of leading marketplace and peer-to-peer sites, 2022
- Launch activity and innovation
- Advertising and marketing activity
- Graph 35: total above-the-line, online display and direct mail advertising expenditure by leading marketplaces/peer-to-peer sites, 2019-23
- Graph 36: total above-the-line, online display and direct mail advertising by leading marketplaces/peer-to-peer sites, media channel as a % of total spending, 2022
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Brand Research
- Graph 37: selected marketplace/peer-to-peer sites, brand awareness, 2023
- Graph 38: attitudes towards and usage of select brands operating in the marketplace sector, 2023
- Graph 39: select online marketplace and peer-to-peer sites – experience and intention to recommend, 2023
- Graph 40: attitudes towards online marketplaces and peer-to-peer sites, 2023
- Graph 41: selected marketplace/peer-to-peer sites, macro brand image, 2023
- Graph 42: selected marketplace/peer-to-peer sites, micro brand image, 2023
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Appendix
- Report scope and definitions
- Methodology
- Graph 43: overall satisfaction with online marketplaces – key driver output, 2023
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