According to a recent report, 61 percent of firms are selling more on digital marketplaces as compared to this time last year. The bigger the firm, the higher the likelihood they used more marketplaces last year than in 2020. Newer firms also said they used more marketplaces last year as compared to 2020.
Among firms with annual revenue in 2021 of more than $100 million, 68% said they were using more marketplaces, while the same was noted by 63% of firms between $5 million and $100 million and 52% of firms with annual revenue of less than $5 million.
Why do we care?
Adoption is slower in smaller organizations, which could be viewed as an opportunity. Two dimensions right now are more likely to use marketplaces – newer and larger. So, that means smaller and older do remain more open space.
As we continue to track marketplaces, remember this data point.