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Yet efforts like freshening up its merchandise mix, relaunching its private brands, and launching an online marketplace should pay off in the long run. Home. The frozen housing market weighs heavily on demand for home improvement and other housing-adjacent categories like furniture and appliances.

Temu surpassed eBay to become the second-most-visited online marketplace worldwide as of September 2024鈥攂ehind only Amazon鈥攑er Similarweb. Temu employs a shipping model, whereby ownership of products remains with the seller until they reach the end consumer. While the seller primarily focuses on production, Temu shoulders the logistics and marketing.

Still, we expect its US marketplace sales to grow 136.5% this year to $19.39 billion鈥攅xceeding its total GMV in 2023. Go further: Read our report on The US Online Marketplace Shopper.

Looking ahead: India is hugely important for digital marketplaces as they try to gain an early advantage in the country鈥檚 nascent ecommerce market. But they will have to tread carefully going forward to avoid falling further afoul of regulators.

Marketplaces are investing in European fulfillment networks. Online marketplaces dominate cross-border selling in Europe. In 2022, 63% of European cross-border spend was generated by marketplaces, per an October 2023 report by Cross-Border Commerce Europe. Europe鈥檚 biggest marketplaces are investing in fulfillment networks.

Peru is Latin America鈥檚 fifth-largest retail ecommerce market by total sales volume. Although social unrest has stymied online sales growth over the past two years, the country has the potential to become a formidable multibillion-dollar ecommerce player in the region.

Understanding the nuances of how and where Colombia鈥檚 13.4 million digital buyers spend online is crucial for brands and retailers seeking a competitive edge in this emerging market.

Argentina's ongoing macroeconomic challenges and triple-digit inflation rates have curbed online consumer spending. However, pockets of growth opportunities still exist.

Understanding the nuances of how and where Mexico鈥檚 67.5 million digital buyers spend their money online is key for brands and retailers to succeed in this thriving ecommerce market.鈥�

A partnership with luxury reseller Rebag to sell pre-owned designer handbags, jewelry, and accessories on its third-party marketplace. A $520 million deal with warehouse automation company Symbiotic to enhance its online pickup and delivery fulfillment systems.

Understanding the nuances of how and where Latin America鈥檚 293.2 million digital buyers spend their money online is key for brands and retailers to succeed in the world鈥檚 second-fastest-growing region for ecommerce.

Amazon late last year launched its own low-cost marketplace, Haul, where products retail for $20 or less. It also cut its commissions in some key categories. At the same time, Amazon is on a relentless push to lean into its Prime advantage鈥攆ast delivery times鈥攖o keep shoppers clicking the buy button.

Chile is the fourth-largest retail ecommerce market by total sales and will be the No. 4 fastest-growing digital economy in Latin America. Understanding Chile鈥檚 11.0 million digital buyers is essential for brands and retailers looking to capitalize on this resurging ecommerce market.鈥�

For the most recent quarter, total revenues reached $195 million, up 12% YoY, with marketplace revenues rising 20% ($50 million) and subscription revenues increasing 10% ($146 million). Key stats:. The company now serves 125 customers with annual subscription revenues over $1 million, up from 105 last year.

Regulation will disrupt some digital players, while retail media and genAI adoption will create opportunities across advertising and commerce.

This deck provides an in-depth analysis of the home furnishings sector in ecommerce, including forecasts for sales growth, digital ad spending, and KPIs. It also highlights consumer shopping behaviors, spending trends, and the growing influence of social media.

It also excludes travel and event tickets; tips; digital goods or nonfungible tokens; subscriptions; payments such as bill pay, taxes, or money transfers; food services and drinking place sales; and gambling and other vice goods sales. Gen Zers and young millennials are driving growth in social shopping. Unsurprisingly, Gen Zers are the most prolific social shoppers.

On today's podcast episode, we discuss why many retailers are choosing now to launch peer-to-peer marketplaces, why consumers might choose IKEA鈥檚 resale platform versus the already established players like Facebook Marketplace and eBay, and what they need to be successful. Listen to the conversation with our analyst Sara Lebow as she hosts analysts Sky Canaves and Sarah Marzano.

US retail and ecommerce sales will maintain stable growth over the next five years, with pockets of opportunity emerging from new digital consumers and mobile-first online shopping trends.