Third-party online marketplaces will be the largest and fastest-growing retail channel globally over the next five years, according to Edge by Ascential.
In its annual 2022 Future of Marketplaces Report, WARC’s sister company anticipates that third-party sales through online marketplaces will add $1.3 trillion in sales during this period. By 2027, Amazon, Alibaba, Pinduoduo and JD.com alone will be responsible for $4.3 trillion in global sales, up from $2.5 trillion today – or more than two-thirds of global e-commerce sales, first-party and third-party.
Key findings
- By 2027, all five of the leading global retailers – Amazon, Alibaba, Pinduoduo, JD.com and Walmart – will operate a third-party marketplace. With forecast net GMV sales (e-commerce and bricks and mortar) of $1.5 trillion, Alibaba will continue to be the leader, followed by Amazon with forecast net GMV sales of $1.2 trillion in total.
- By 2027, third-party sales through marketplaces will account for 38% of all global retail sales growth, with third-party sellers through marketplaces capturing 59% of global e-commerce sales, up from 56% in 2022. First-party e-commerce sales will shrink from today’s 44 to 41% in 2027.
- The number of third-party marketplaces operating globally has jumped by more than 500% since 2007. Edible grocery will be the fastest-growing category for third-party online sales between 2022-2027, with third-party sales compound annual growth rate (CAGR) of 11%. Household and Pet Care will be the second-fastest-growing category, with 10.6% CAGR growth for third-party sales, followed by the office supplies category growing at 10.5% CAGR.
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