If you're a brand looking for growth you may be wondering if selling on digital marketplaces is right for you. The short answer is: yes! In 2023 and beyond, digital marketplaces will continue to be a vital channel for businesses looking to succeed in the ecommerce world. Here are just a few reasons why your brand should consider selling on digital marketplaces in the coming year:

‍Increased visibility: 

The ecommerce market is expected to amount to 5.27 Billion users by 2027. Online marketplaces are often highly visible, with strong search engine rankings and high traffic volumes. This can help brands increase their visibility and attract more potential customers.

‍Increased reach: 

One of the main benefits of selling on digital marketplaces is the ability to reach a much wider audience than you could with your own ecommerce website.Online marketplaces are visited by millions of consumers every day, making them a great way to get your products in front of potential customers. User penetration is anticipated to be 57.3% in 2023 and is expected to hit 66.2% by 2027.  

‍Access to international markets: 

Many online marketplaces offer the ability to sell cross border internationally, giving businesses the opportunity to tap into new markets and reach a wider customer base. Cross-border ecommerce is set to exceed $2.1 trillion dollars in 2023. 

‍Establish or Increased credibility: 

Consumers are often more likely to trust products sold on well-known online marketplaces, as these platforms have established reputations for reliability and trustworthiness. It's been found that  67% of consumers trust a purchase on a familiar online marketplace even if the brand  is unfamiliar to them. By selling on these platforms, you can benefit from the credibility and trust that these marketplaces have built up with consumers.

‍Increased sales:

By selling on online marketplaces, brands can increase their sales and reach new customers. The average revenue per user (ARPU) is expected to amount to $1,019.00. This can lead to increased revenue and growth for brands with the expected global ecommerce market to total $6.3 trillion in 2023.