2021
9
US Online Marketplaces Market Report 2021
2021-12-07T03:01:18+00:00
OX1045295
3695
146058
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Report
en_GB
“At their best, online marketplaces promise consumers an ideal combination of broad selection from a wide range of merchants with the convenience and reassurance of purchasing from a large, established…

US Online Marketplaces Market Report 2021

£ 3,695 (Excl.Tax)

Report Summary

“At their best, online marketplaces promise consumers an ideal combination of broad selection from a wide range of merchants with the convenience and reassurance of purchasing from a large, established retailer. However, achieving this ideal balance isn’t easy – especially if you aren’t Amazon. As the category matures – with a boost stemming from the pandemic – the advantage will go to nimble players who can efficiently connect consumers with unique products that they may have never known they needed.”
– Vince DiGirolamo, Reports Director

This Report looks at the following areas:

  • An overview of the online marketplace landscape
  • The impact of COVID-19 on the online marketplace sector
  • Consumer shopping behavior on online marketplaces
  • Opportunities for growth in the sector

Table of Contents

  1. Overview

    • What you need to know
      • This Report looks at the following areas
        • Definition
          • Economic and other assumptions
            • COVID-19: US context
            • Executive Summary

                • Top takeaways
                  • Market overview
                    • Impact of COVID-19 on online marketplaces
                      • Figure 1: Short-, medium- and long-term impact of COVID-19 on retail and online marketplaces, 2021
                    • Opportunities and challenges
                      • Economies of scale can be a double-edged sword
                        • Discovery matters along with efficiency
                          • Forge a new path
                          • The Market – Key Takeaways

                            • A diverse sector
                              • eCommerce gets a boost from COVID – for now
                                • Future outlook less clear
                                  • Online shopping frequency, volume on the rise
                                  • Market Landscape

                                    • Many marketplace models
                                      • Figure 2: Honeybee Gardens highlights participation in Target Plus
                                      • Figure 3: Farfetch promotes wide selection of fashion brands and items
                                    • eCommerce grows – at traditional retail’s expense
                                      • Impact of COVID-19 on retail and online marketplaces
                                      • Market Factors

                                        • Speedy recovery hits a slowdown
                                          • Figure 4: GDP change from previous period and consumption expenditures, Q1 2007-Q2 2021
                                        • COVID-19 remains a wild card
                                          • Figure 5: Daily trends in number of new US COVID-19 cases reported to CDC, 2021
                                        • Online shopping frequency grows
                                          • Figure 6: Share of purchases made online, by age, 2021
                                        • Mobile device use high amongst heavy online shoppers
                                          • Figure 7: Online shopping device usage, by online shopping frequency, 2021
                                      • Companies and Brands – Key Takeaways

                                        • Amazon looms large…
                                          • Perhaps too large
                                            • Selection offers a natural advantage
                                              • Better together?
                                                • The color of change
                                                • Competitive Strategies

                                                  • An expanding universe
                                                    • Figure 8: Online marketplace usage, 2021
                                                  • The bigger they are…
                                                  • Market Opportunities

                                                    • Make it easy to find the hard-to-find
                                                      • Strength in numbers
                                                        • Marketplace as a service?
                                                          • Figure 9: J. Crew marketplace products
                                                          • Figure 10: ShopIN.NYC focuses on shopping local business
                                                        • Promoting diversity
                                                          • Figure 11: WeBuyBlack marketplace
                                                      • The Consumer – Key Takeaways

                                                        • Amazon leads the way in third-party purchases
                                                          • Overcoming barriers is key to driving purchases across categories
                                                            • Building trust and confidence when shopping online marketplaces
                                                            • Marketplace Shopping Behavior

                                                              • Marketplace buying increases during COVID
                                                                • Figure 12: Online marketplace purchase frequency, by gender and age, 2021
                                                              • More frequent shoppers boost third-party seller shopping
                                                                • Figure 13: Online marketplace purchase frequency, by online shopping frequency, 2021
                                                              • Older consumers less clear on third-party status
                                                                • Figure 14: Third-party seller awareness, by age and gender, 2021
                                                              • Hispanic shoppers least likely to identify third parties
                                                                • Figure 15: Third-party seller awareness, by race and Hispanic origin, 2021
                                                              • Brand building, search essential for driving sales
                                                                • Figure 16: Online marketplace shopping approach, by age and gender, 2021
                                                            • Marketplace Usage and Attributes

                                                              • Amazon prevails when it comes to reach
                                                                • Figure 17: Online marketplace usage, by gender and age, 2021
                                                              • Black, Hispanic buyers prefer Walmart
                                                                • Figure 18: Online marketplace usage, by race and Hispanic origin, 2021
                                                              • Amazon makes it easy
                                                                • Figure 19: Attributes of select online marketplaces, 2021
                                                              • Heavy online shoppers also high on Amazon
                                                                • Figure 20: Attributes of select online marketplaces, by majority online shoppers, 2021
                                                            • Categories Purchased on Online Marketplaces

                                                              • Room to expand
                                                                • Figure 21: Merchandise categories purchased from third-party seller on marketplace sites, 2021
                                                              • Clothing most popular for young consumers
                                                                • Figure 22: Merchandise categories purchased from third-party seller on marketplace sites, by age, 2021
                                                              • Footwear, electronics appeal to Black shoppers
                                                                • Figure 23: Merchandise categories purchased from third-party seller on marketplace sites, by race and Hispanic origin, 2021
                                                            • Reasons for Shopping Online Marketplaces

                                                              • Value, selection key priorities
                                                                • Figure 24: Reasons for shopping at online marketplaces, by age and gender, 2021
                                                              • Unusual products key for frequent shoppers
                                                                • Figure 25: Reasons for shopping at online marketplaces, by percent of purchases online, 2021
                                                              • Help shoppers minimize risk
                                                                • Figure 26: Purchase drivers for unknown marketplace sellers, by age and gender, 2021
                                                              • Mothers respond well to ratings, free returns
                                                                • Figure 27: Reasons for shopping at online marketplaces, by gender and parental status, 2021
                                                            • Barriers When Shopping Online Marketplaces

                                                              • Quality, returns key concerns
                                                                • Figure 28: Barriers to purchase for online marketplaces, by age and gender, 2021
                                                              • Quality less of a concern for the affluent
                                                                • Figure 29: Barriers to purchase for online marketplaces, by household income, 2021
                                                              • Asian consumers particularly concerned about return hassles, delays
                                                                • Figure 30: Barriers to purchase for online marketplaces, by race and hispanic origin, 2021
                                                            • Attitudes toward Shopping Online Marketplaces

                                                              • Building trust with marketplaces and sellers
                                                                • Figure 31: Attitudes regarding marketplace trust, 2021
                                                              • Attracting and keeping customers satisfied
                                                                • Figure 32: Attitudes regarding marketplace trust, by percent of purchases online, 2021
                                                              • Allowing consumers to shop on their terms
                                                                • Figure 33: General attitudes regarding marketplaces, by gender and age, 2021
                                                            • Appendix – Data Sources and Abbreviations

                                                              • Data sources
                                                                • Consumer survey data
                                                                  • Abbreviations and terms
                                                                    • Abbreviations

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