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
TensorX Reaches $5 Million and Appoints Tim Grant as CEO as Demand for Sovereign AI Accelerates8.10.2026 11:19:00 EEST | Press release
TensorX, the Irish sovereign AI inference company, has reached $5 million in revenue as demand for private AI infrastructure continues to grow across Europe and beyond. Tim Grant, who joined the company as Executive Chairman in May, has been appointed Chief Executive Officer to lead as its growth accelerates. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261008373051/en/ Tim Grant, Executive Chairman since May, is appointed Chief Executive Officer as the Dublin company serves more than 5,000 paying customers and expands its infrastructure across Europe. TensorX is a neocloud that delivers inference on open-source AI models using dedicated NVIDIA GPUs with zero data retention, so customer data is not stored, reused or sent outside Europe. Since it began serving customers, the company has raised $10 million in seed funding led by Darius Cubed Ventures. Over seven months, TensorX’s paying customer base grew to over 5,000, rang
Aresbank Strengthens Trade Finance and Correspondent Banking Compliance with SymphonyAI8.10.2026 10:55:00 EEST | Press release
As a specialized corporate and trade finance bank in the MENA region, Aresbank manages risk and moves money across some of the most sensitive trade corridors between Europe, the Middle East and North Africa. Operating in a highly regulated environment, Aresbank turned to SymphonyAI, a global leader in Vertical AI whose financial crime compliance platform already spans retail, commercial and correspondent banking, to strengthen its transaction monitoring framework across trade finance and correspondent banking. Headquartered in Madrid, the bank's business centers on trade instruments, including correspondent banking, documentary credits, international guarantees and multi-currency credit lines that connect European and MENA markets. Correspondent banking carries a distinct risk profile, and trade finance flows in the region remain a focus for regulators concerned with sanctions evasion and trade-based money laundering. Aresbank has selected SymphonyAI's transaction monitoring capabiliti
Fortune Media and Great Place To Work Name Experian As One Of The ‘100 Best Companies to Work For Europe’ in 2026 for Second Year8.10.2026 10:00:00 EEST | Press release
Great Place To Work® and Fortune Europe have recognised Experian as one of the Fortune 100 Best Companies to Work For™ Europe for the second-year running. The 100 Best Companies to Work For Europe list is a comprehensive recognition for business excellence and employee experience, based on Great Place To Work’s proprietary Trust Index™ Survey. Great Place To Work evaluates confidential feedback from employees, validating against HR data from participating companies. Only companies with consistently high survey responses from employees — regardless of their role, department, or status in the company — are honored with placement on the list. Eligible companies have 500 or more employees and were represented on at least one national Best Workplaces™ List in Europe. Jacky Simmonds, Chief People Officer, Experian, said: “We are thrilled to being named one of the Fortune 100 Best Companies to Work For™ in Europe for the second year in a row. It’s an incredibly proud moment for us at Experian
Value Group Brings Its Integrated Global IROPS Management Model to the World Aviation Festival8.10.2026 09:32:00 EEST | Press release
Value Group, a leading provider of integrated aviation disruption management solutions, returns to the World Aviation Festival as a Gold Sponsor, reinforcing its role in the evolution of airline disruption management. From 13 to 15 October at FIL in Lisbon, the event is one of the aviation industry’s leading international technology conferences and exhibitions, bringing together airlines, airports and travel technology companies worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261007885823/en/ Thomas Sergnese, Co-CEO & Chief Commercial Officer and Daniele Bocchieri, Co-CEO & Chief Operating Officer At stand 1-180, Value Group will showcase the evolution of its integrated disruption management model and the RUBIK digital ecosystem, demonstrating how technology, operations and governance can work together as one connected system to manage irregular operations more effectively at both global and local level. Over the p
Colruyt Group Crosses the 150 Store Milestone With Rollout of Toshiba ELERA® Self Service Store Deployments8.10.2026 08:30:00 EEST | Press release
Toshiba Global Commerce Solutions today announced the successful deployment of its ELERA® Self Service solution across 144 Colruyt Group stores: Okay, Okay City, Spar Colruyt Group and Bio-Planet. Today, 454 self-checkout systems have already been installed year-to-date across 150 stores. The project continues to expand, with an additional 51 stores planned in 2026 and further rollout in 2027. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261007465701/en/ Toshiba’s ELERA® Self Service successfully deployed across Okay, Okay City, Spar Colruyt Group and Bio-Planet stores in Belgium. The deployment was designed to support a fast, intuitive, and customer-friendly checkout experience, while maintaining the personal interaction that remains important within the convenience retail environment. Across the stores, employees remain present near the self-checkout area to assist customers whenever needed, helping ensure accessibility
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