Marketplaces now rule Online Commerce. What’s your Marketplace Strategy?

January 29, 2021

In 2019, iProspect, a leading Kenyan Digital Marketing company did a survey of 100 global marketers to learn more about how they currently perform in their e-commerce efforts. 26 of these companies were from Kenya. The performance benchmarking was done against the four digital success pillars of Convenience, Value, Relevance and trust.

According to Joel Rao, CEO at iProspect, the study found out that over 50% of online sales now happen at Marketplaces such as Jumia, Amazon, Sky Garden you name it. The study further found out that over 20% of customers wont look elsewhere if they see a product that looks good on a trusted Marketplace such as Jumia.

E-commerce websites have been responsible for the growth of Online commerce globally, so the results above should not come as a surprise. The question is, does your business have presence in online Market places?

Joel Rao was a facilitator at Un.thinkable masterclass (our quarterly 10X Growth Leaders Workshop) in July 2020. Click here to apply for membership in Un.thinkable.

Subscribe For Our Event Updates and Weekly 10X Newsletter