2020 was the most successful year for e Commerce marketplaces in over a decade according to estimated worldwide Amazon GMV!
The tragic COVID-19 pandemic clearly had a positive impact on some segments of the economy. E-Commerce grew steeply, and marketplaces captured most of it.
The following aspects were central to the growth of the GMV (Gross Merchandise Value):
- businesses managed to build and scale on the Amazon marketplace
- software and service firms enabled these businesses
- investors were funding and acquiring these businesses
In 2020, sellers on the Amazon marketplace sold an estimated $295 billion worth of products, increasing their sales by $95 billion, up from $200 billion in 2019.
As e-Commerce boomed during the pandemic, some marketplaces have greatly benefited, a few prepared for the future, while others were caught unprepared to react. Etsy, Walmart, Amazon, and to some degree, Target were the four big winners.
Interested in Amazon Advertising?
Let’s empower your e-Commerce Business together
Talk to one of our experts to find out how we can support you in reaching your goals!Free unlimited Trial