The battle for eCommerce dominance is intensifying, with brands across all industries – from retail to manufacturing and distribution – each searching for that needed edge in today’s cutthroat landscape. Combine this increased competition with shrinking margins along with ever-increasing customer demand, and it might feel like you’re being squeezed on all sides.
But through it all, there’s been a singular, strong, and consistent trend breaking through: online marketplaces are flourishing. Year after year, these marketplaces (also referred to as “enterprise marketplaces”) have grown at 2X the rate of overall eCommerce, achieving 25% year-over-year growth in the past year. In fact, today, online marketplaces make up two-thirds of global eCommerce sales.
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