Online Marketplace Revenues To Double By 2022

by MR Magazine Staff

Revenues for marketplace platform providers across the globe are predicted to more than double from $18.7 billion in 2017 to $40.1 billion in 2022, driven by the sharing economy, according to a report from Coresight Research and data by Juniper Research. The Americas will represent 57.2% of the 2022 total. While virtual marketplaces like Amazon’s and eBay are top-of-mind, this concept is about more than selling products. These portals serve consumer demand for resale and rentals, as well as for finding and booking services. Walmart’s announcement of an online Lord & Taylor store this week represents a new evolution of online marketplaces into e-commerce malls, expanding and enhancing the products and image of the host. Read more at Retail Dive.