On-line marketplaces dominate nearly each stage of the acquisition journey of customers in the UK. In high-value purchases of greater than 90 euros, 30 p.c of buyers within the nation use marketplaces, forward of bodily shops and different web sites.
That is based on a current survey by Akeneo, amongst 1,800 customers in eight international locations. Earlier analysis by ChannelEngine already indicated that 54 p.c of web shoppers in the UK begin their product search on marketplaces. That was greater than the European common of 47 p.c.
‘Marketplaces are the default store window’
“This peak season has confirmed what our analysis already reveals; for UK buyers, marketplaces are the default store window, comparability engine, evaluation hub and checkout”, stated Romain Fouache, CEO at Akeneo. “In case your product info and model story don’t present up clearly and constantly on marketplaces, you’re invisible for a giant share of excessive‑worth purchases. And in a world the place AI brokers and LLMs will more and more exchange search in guiding buyers to the fitting merchandise, being invisible on marketplaces means you might not exist in any respect for these new discovery engines.”
Drivers of recognition marketplaces
The recognition of marketplaces is pushed by the standard of product info and critiques. The survey reveals that 52 p.c of customers within the nation stated that product info on marketplaces is excellent. This can be a lot greater than the knowledge on retailer web sites (40 p.c) and outlet or low cost shops (39 p.c).
The intensive product info additionally helps customers of their decision-making. A minimum of 24 p.c of customers use marketplaces for search and discovery, 26 p.c for worth and promotions comparisons and 28 p.c to check or validate merchandise. And 21 p.c of customers actively flip to marketplaces for recommendation from different customers.
‘Marketplaces are the place buyers go to emphasize take a look at their choices for giant ticket purchases’
“For large ticket purchases, marketplaces are the place buyers go to emphasize take a look at their choices. They’re evaluating options, checking specs and dimensions, weighing up supply guarantees and studying actual consumer suggestions. In case your market presence is weak, inconsistent or incomplete, you’re successfully handing these clients to opponents.”
63% deserted buy resulting from poor product info
In accordance with Akeneo, constant product info is vital to customers. The survey reveals that 63 p.c of buyers within the UK deserted a purchase order within the final 12 months as a result of info was lacking or inaccurate. And 70 p.c would swap to a distinct product, resulting from lack of product info. And 68 p.c would cease shopping for from a model, if they’ve a foul product info expertise.
