Consumers opting for marketplace over retail websites, survey finds

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11th August 2015 13:34 - Retail

According to a recent survey, online shoppers are starting their product research on retail marketplace channels – which allow third party Consumers opting for marketplace over retail websites, survey findsmerchants to sell products, before viewing an individual retailer’s website - at an increasing rate.

The report by Amazon.com and Pymnts.com revealed that 64 per cent of the participants start the buying process by searching for a product on a marketplace, followed by a website, search engines and social media.

Of the 2,000 respondents in the survey, the majority said that having trust in a retailer is the most vital factor in deciding where to buy from. Other factors included rewards, promotions, good buying experiences in the past, delivery and shipping.

Vice President of Amazon Payments, Patrick Gauthier, said at the R2 Retail Reinvention Summit in Chicago: "The number one determining factor on whether a consumer chose to make a purchase online was trust, not selection or price."

The research also revealed that consumers were twice as likely to adopt and accept a new retail payment product from Amazon, than they were from Apple.

Of the total sales on the Amazon website, third party marketplace business makes up approximately 40 per cent.

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