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
Venture Global Secures New Agreements to Support Expansion of Existing Grid-Independent Power Network15.10.2026 13:00:00 EEST | Press release
Venture Global, Inc. (NYSE: VG) today announced it has entered into power and grid frame agreements with GE Vernova and Baker Hughes Energy Services for up to 16 new, 720 MW power island units and associated power transformer equipment, supporting the continued expansion of its existing behind-the-meter, Island-Mode industrial power network that is not reliant on the grid. The agreements will enable continued growth in Venture Global’s LNG business and provide a pathway to make up to 10 GW of new compute capacity available over time – at sites owned or controlled by the Company - for potential adjacent infrastructure and data centers. With Island Mode power generated using this incremental dedicated on-site infrastructure, the expansion would place no additional demand on the public electric grid or public water utilities and, therefore, have no added costs to local consumers. This new capacity would build on the company’s 4.5 gigawatts of Island Mode modular, gas-fired generation that
Moncler Re/Icons: Cher, JENNIE and Grace Jones Re/Define What It Means to Be a Pioneer15.10.2026 13:00:00 EEST | Press release
Since its origins, Moncler has been at the forefront of the ascent, equipping the world’s most intrepid pioneers – those first to explore, so others can follow. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261015573482/en/ MONCLER RE/ICONS CHER That spirit lives on in the new Moncler Re/Icons collection, which takes iconic styles from the brand’s archives and reimagines them for a new generation, brought to life by three cultural pioneers who have forged their own extraordinary paths: Cher, JENNIE and Grace Jones. Each has spent a career making moves, moving mountains and reaching for higher peaks, refusing to follow the path already laid out before them. Pioneers in their own singular ways, they have blazed trails for others to follow and built enduring legacies that continue to shape what comes next. Inspired by archival photographs of alpine pioneer and early Moncler collaborator Lionel Terray, the campaign brings our p
AI Investment Is Surging, but Businesses Are Struggling to Prove the Value, HTEC Global Study Finds15.10.2026 11:42:00 EEST | Press release
HTEC, a global product engineering and AI transformation company, today launches The HTEC AI Value Realization Report 2026, revealing a new challenge emerging as organizations move beyond AI experimentation: investment is accelerating faster than many companies’ ability to measure, govern and consistently realize its value. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261015407055/en/ HTEC, a global product engineering and AI transformation company, today launches The HTEC AI Value Realization Report 2026, revealing a new challenge emerging as organizations move beyond AI experimentation: investment is accelerating faster than many companies’ ability to measure, govern and consistently realize its value. The independent study finds that 79% of organizations have increased AI investment over the past year, with spending rising by 31% on average. Yet 77% of executives now believe AI value is constrained more by people and pr
Flowdesk Europe Receives Payment Institution Authorization from the ACPR Under PSD215.10.2026 10:30:00 EEST | Press release
Flowdesk, a global liquidity provider and digital asset trading and infrastructure provider, today announced that its European entity, Flowdesk Europe, has been authorized as a Payment Institution by the French Prudential Supervision and Resolution Authority, l'Autorité de contrôle prudentiel et de résolution (ACPR), under the second Payment Services Directive (PSD2). The authorization allows Flowdesk Europe to provide custody and transfer services for e-money tokens (EMTs), the fiat-referenced stablecoins regulated under the Markets in Crypto-Assets (MiCA) regulation, to its clients across the European Union. The authorization follows the entity’s Crypto-Asset Service Provider (CASP) authorization received from the Autorité des Marchés Financiers (AMF) under MiCA at the end of June this year. With both authorizations in place, Flowdesk Europe can now support its EU clients across the trading, custody, and transfer of crypto-assets and EMTs, reflecting the firm’s long-standing commitme
Too Good To Go Expands Its Marketplace Beyond Food15.10.2026 10:30:00 EEST | Press release
Too Good To Go, the world's largest marketplace for surplus food, today announced that it is expanding its Marketplace beyond food, enabling retailers to redistribute surplus across personal care — including skincare, haircare, oral care and beauty products — pet care, flowers and plants, nutrition and supplements, and home, initially spanning cleaning and laundry products and décor. More than 8,500 stores already supply products across these areas, around one third of which were already working with Too Good To Go to redistribute surplus food. “In today’s society, we have built incredibly efficient processes for producing and selling things at scale, creating abundance, but we have not built the same efficiency into making sure what is left over gets used. As our lives have become more convenient, we have become less conscious of what those things are worth. We used to finish what was on the plate, find a use for what we had and instinctively pause before throwing something away. Too
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