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
Kinaxis Advances Operational Orchestration Vision with Agentic AI at Kinexions EMEA 202615.9.2026 14:00:00 EEST | Press release
Kinaxis® Inc. (TSX:KXS), a global leader in AI-powered supply chain planning and orchestration, will bring together some of the world’s most innovative supply chain leaders at Kinexions EMEA 2026 from October 26-28. Building on the operational orchestration vision Kinaxis introduced earlier this year, the conference offers an inside look at how leading organizations are harnessing AI innovation and agentic capabilities to help supply chain leaders make better decisions, coordinate action across the business and drive measurable outcomes. From AI Potential to Operational Impact As organizations continue to invest heavily in AI, many struggle to translate intelligence into action - just 12% of supply chain leaders consider themselves AI leaders, despite widespread deployment of AI capabilities. Kinaxis CEO Razat Gaurav and Executive Vice President, EMEA, Fabienne Cêtre, will open the mainstage with an exploration of the market forces reshaping global supply chains and how operational orc
Cebreo Medical Receives CE Mark for NeuroBuds®, a Discreet In-Ear, Medical-Grade EEG Wearable for Extended Ambulatory Monitoring15.9.2026 14:00:00 EEST | Press release
Cebreo Medical today announced that its NeuroBuds® device has received CE marking, confirming conformity with applicable EU requirements. Unlike conventional EEG systems that require a technician-applied cap of electrodes, NeuroBuds is designed to be used unassisted by the patient at home, enabling multi-day and multi-night recordings in a patient's daily life environment. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260914704547/en/ NeuroBuds(TM), EarEEG “With NeuroBuds, we can offer a discreet, unobtrusive solution that enables long-term, unassisted EEG monitoring for weeks, in patients’ own homes. The product has the potential to significantly reduce the cost of long-term EEG monitoring and strengthen treatment decisions compared with conventional brain monitoring.” — Rasmus Madsen, CEO, Cebreo Medical Designed to resemble a hearing aid, NeuroBuds is built to minimize the stigma and burden that typically limit complianc
Compass Pathways Launches ‘Change the Tune in TRD’ in the U.S. to Advance HCP Understanding of Treatment-Resistant Depression at Psych Congress 202615.9.2026 13:30:00 EEST | Press release
Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to unlocking urgently needed new treatment options in mental health care, today announced the launch of Change the Tune in TRD, a new U.S. HCP disease education initiative, to deepen understanding and increase recognition of TRD. The campaign explores the neurobiology of this distinct form of depression and is designed to help navigate care pathways for patients and providers. Change the Tune in TRD was developed to provide evidence-based education to U.S. HCPs on the longer, more persistent episodes associated with TRD, alongside cognitive and emotional patterns, including getting stuck in negative or repetitive ways of thinking, difficulty shifting perspective or navigating emotions, and feeling disconnected from pleasure or motivation1-8. While TRD originates as MDD, its burden and resistance to standard treatments distinguish it as a more complex condition. Compared to MDD, TRD patients experience almost 3x long
NIQ Launches Digital Purchase GeoAudiences Across Europe15.9.2026 13:00:00 EEST | Press release
NIQ (NYSE: NIQ), a leading consumer intelligence company, today announced the launch of Digital Purchase GeoAudiences across five European markets. The new solution extends NIQ’s geographic audience capabilities into digital-first categories including travel, automotive, technology, telecommunications and financial services. The launch expands NIQ’s GeoPurchase offering, which currently provides syndicated audiences across 13 international markets. Digital Purchase GeoAudiences address growing demand from advertisers for purchase-informed audience intelligence across a broader range of digital-first industries and shopping environments. By combining NIQ’s digital commerce intelligence with its GeoPurchase framework, the solution helps advertisers identify geographic areas showing stronger digital shopping activity. Marketers can use these signals to inform where they plan and prioritize media investment. “Marketers shouldn’t have to guess where demand is coming from before they invest,
QurCan Therapeutics Enters Strategic Research and Collaboration Agreement with Lilly to Advance Nucleic Acid Therapies for Central and Peripheral Nervous System Diseases15.9.2026 13:00:00 EEST | Press release
QurCan Therapeutics (“QurCan”), a biotechnology company pioneering non-viral, polymer-lipid nanoparticle (PLNP) delivery of genetic medicines through its proprietary TERP™ (Target-Engineered Responsive Polymer) platform, today announced an exclusive research and collaboration agreement with Eli Lilly and Company (“Lilly”) for the treatment of diseases of the central nervous system (CNS) and peripheral nervous system (PNS). Lilly and QurCan will collaborate on multiple research programs focused on the development of PLNP-enabled genetic medicine therapeutics for CNS and PNS delivery. Through this collaboration, QurCan will be responsible for optimizing genetic medicine therapeutics using its TERP platform, and Lilly will be responsible for further research, clinical development, and commercialization of the selected programs. “This collaboration with Lilly represents a validation of our PLNP technology platform and its potential to address some of the most challenging delivery problems
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