Marketplace Optimism Remains High Despite Challenging Trading Environment for Retailers - Jitterbit Study Reveals
25.5.2023 11:00:00 EEST | Business Wire | Press release
Jitterbit, a global leader for empowering transformation through automation, has today revealed the results of its latest in-depth targeted study, ' eCommerce Marketplace Strategy: The Power of Hyperautomation' — the first survey of its kind, revealing the views of European retailers across the UK, Spain, Germany and the Netherlands in executing and expanding their marketplace presence.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230525005075/en/
eCommerce Marketplace Strategy: The Power of Hyperautomation 2023 Report (Graphic: Business Wire)
As one would expect, the majority of European retailers have wholly embraced marketplaces into their go-to-market strategies, with 95% already trading on at least one marketplace - Amazon (18%), eBay (14 %), Etsy (8%) and Wayfair (6%) are cited as the most popular.
What’s more, 88% of retailers said they were considering building their own marketplace, with one third benefiting from a sales boost due to marketplace trading. Despite widespread optimism, 78% of all retailers said they found trading on marketplaces challenging, with the top reasons being:
- Hard to keep data accrued on a marketplace secure - 76%
- Too many disparate systems used to trade on marketplaces - 88%
- Challenging to get a complete picture of business activity when trading on marketplaces - 70%
- Marketplace presence creates data silos within the company - 73%
- Trading on marketplaces creates stockouts and inventory problems - 79%
- Challenging to stay on top of fulfilment and refunds when trading on marketplaces - 89%
Alarmingly, 83% of retailers admitted to still having more than 10 manual data processes in their marketplace tech stack, with more than half (58%) having more than 20 and 31% having 31 or more. And 77% of retailers believe they are less competitive in the marketplace than other companies due to cumbersome and disparate systems creating data silos.
Joost De Bot, Vice President & General Manager EMEA at Jitterbit, said: "There’s no doubt marketplace momentum is here to stay. Successful commerce leaders of the future must act swiftly to adopt or optimise their strategy to stay ahead. Integration, specifically enabling hyperautomation by removing all manual processes, will undoubtedly play a crucial role in enabling marketplace players to overcome current trading challenges and remain competitive."
Yet optimism remains high, with 61% of retailers agreeing that although trading on marketplaces is challenging, it is also manageable. 100% of retailers in the study expect to continue trading on marketplaces within the next five years.
Retailers are making strides to overcome current challenges and know they need better integration and automation. 99% of respondents said they are already using one automation tool as part of their integration marketplace strategy. Looking ahead, 53% are likely to incorporate an integration solution into their marketplace strategy in the next five years.
Ends.
About the research
For this report on evolving marketplace strategies, we have commissioned third-party independent research company Vitreous World to survey 200 Commerce and retail leaders in the UK, Spain, Germany and the Netherlands to explore the opportunities and challenges they face in executing and expanding their marketplace presence.
About Jitterbit, Inc.
Jitterbit is a global technology business serving over 3,000 customers around the world. We are dedicated to empowering your business transformation through seamless, automated integration. Automating your business processes means accelerated, more informed decision-making and better customer experiences. Our Harmony platform combines API Management, business process optimisation and no-code app creation to help you remove all manual data processes from your business and achieve hyperautomation faster. Find out more about Harmony here at www.jitterbit.com or follow us on LinkedIn.
Download the full report here: https://www.jitterbit.com/report/what-are-european-retailers-thoughts-on-trading-on-marketplaces
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230525005075/en/
Contact information
Media Contacts:
ThoughtLDR
Cat Lenheim
cat@thoughtldr.com
+44 7511117587
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
GenNx360 Capital Partners Closes Fourth Flagship Fund at $865 Million27.8.2026 15:30:00 EEST | Press release
GenNx360 Capital Partners (“GenNx360” or “the Firm”), a New York City-based private equity firm investing in U.S. lower middle market industrial services and business services companies, today announced the successful closing of GenNx360 Capital Partners IV, L.P. (“Fund IV” or “the Fund”), with $865 million in commitments, exceeding its target. Fund IV is the largest fund raised in GenNx360’s history. Fund IV was supported by a diverse group of existing and new investors including leading pensions, asset managers, insurance companies, foundations, and family offices, reflecting conviction in the firm’s disciplined investment approach, operational value creation model, and tenured, diverse team. Fund IV will continue GenNx360’s differentiated strategy of partnering with lower middle market founders and management teams to scale essential services businesses. Fund IV has made five investments to date across infrastructure services, testing and inspection services, aerospace and defense,
Alipay Ant Forest Turns 700 Million Users’ Daily Green Actions into 700 Million Trees Over a Decade of Technology-enabled Environmental Program27.8.2026 15:02:00 EEST | Press release
Alipay Ant Forest, Ant Group’s green initiative that encourages people to participate in environmental protection through simple, everyday low-carbon actions, today announced that more than 700 million users across China have joined the program as of August 2026. Together, they have helped support the planting of over 700 million trees, contributing to ecological restoration efforts in some of China’s most arid and environmentally fragile regions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260827995848/en/ Before (2019) and after (2026) comparison of Ant Forest Project No. 464 in Inner Mongolia. Launched in 2016 within the Alipay app, Ant Forest transforms individual environmental choices into collective climate action. When users make greener lifestyle choices, such as taking public transportation, cycling, paying bills online to avoid paper invoices, or choosing digital services, they earn virtual “green energy points”
Omilia Appoints Michael Weiss as Vice President, DACH27.8.2026 15:00:00 EEST | Press release
Omilia, a global leader in Self-Learning Agentic CX, today announced the appointment of Michael Weiss as Vice President, DACH. Weiss will lead Omilia's go-to-market strategy across Germany, Austria, and Switzerland, as the company expands its European footprint, with a focus on regulated sectors where enterprise demand for AI that moves past pilot-stage containment is accelerating. In his new role, Weiss will be responsible for enterprise sales, partner development, and go-to-market execution across DACH, building the team and customer relationships needed to scale Omilia's presence in a market where large, heavily regulated enterprises have historically been slow to move off legacy IVR and first-generation AI. Weiss brings more than two decades of enterprise sales leadership in SaaS, cloud, and customer experience (CX) technology. Most recently, he provided fractional Chief Revenue Officer services through his own advisory practice where he advised CX and cloud communications provider
Visa Expands Support for its Clients and the Industry as Organizations Navigate New AI Era of Cybersecurity27.8.2026 15:00:00 EEST | Press release
Visa (NYSE: V) today announced enhancements to its cybersecurity portfolio to help organizations identify and fix vulnerabilities more effectively. Unveiling the next evolution of the Visa Vulnerability Agentic Harness (VVAH), its open-source, model-agnostic framework, Visa is helping organizations significantly reduce the Mean Time to Adapt (MTTA), the time between discovery and resolution of attack paths, with some resolutions shrinking from weeks to hours. And to help clients navigate this evolving threat landscape, Visa also announced the expansion of its Visa Consulting & Analytics (VCA) Cybersecurity Advisory Practice with new advisory services designed to help clients assess risk, prioritize remediation efforts and strengthen resilience in an evolving threat environment. "AI is compressing the time between vulnerability discovery and exploitation, which means defenders need a faster, more reliable path to action," said Rajat Taneja, President, Technology, Visa. "By advancing VVA
Perma-Pipe Announces Closing of Global Credit Facility of Up to $139 Million27.8.2026 14:47:00 EEST | Press release
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) (“Perma-Pipe” or the “Company”), a leading global provider of engineered piping and leak detection solutions for energy, infrastructure and industrial markets, today announced the closing of a new global credit facility with J.P. Morgan consists of a $75.0 million revolving credit facility and a $14.0 million term loan facility, and allows the Company access to an additional $50.0 million in incremental capacity. The new facility replaces and consolidates multiple existing credit facilities maintained by the Company and its subsidiaries across various jurisdictions, creating a more streamlined and centralized financing structure for Perma-Pipe’s global operations. It also provides Perma-Pipe with significantly increased financial capacity, enhanced liquidity and greater flexibility to support working capital requirements, letters of credit, strategic investments and the Company’s continued expansion in key markets. Saleh Sagr, Pres
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom