Shoppers search online marketplaces over retail websites

Consumers are increasingly starting to search for products on marketplace platforms rather than individual retail sites, according to a report released by Amazon (NASDAQ:AMZN) and PYMNTS.com.

In fact, 64 percent of respondents start a search on a marketplace, such as Etsy, Shopify and EBay (NASDAQ:EBAY), followed by their favorite websites, search engines and social media, Reuters reported.

Most of the polled shoppers said trust in a retailer was the most important factor in where they ultimately made the final purchase. Other factors included promotions, rewards, buying experience, delivery and shipping.

In addition, the survey said consumers were two times as likely to accept and adopt a new retail payment product from Amazon than from Apple (NASDAQ:AAPL).

Amazon's third-party business accounts for 40 percent of all sales on its platform, and reached a milestone of selling $2 billion items in 2014.

The popularity of marketplaces seems to be on the rise and new start-ups are continually entering the retail arena. For example, e-commerce start-up Tictail recently raised $22 million in a Series B funding to help support small businesses looking to launch their stores online.

For more:
-See this Reuters article

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Amazon unveils business marketplace
 

 

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