Gemma Spence
Chief Digital Commerce Officer, VML
E-commerce Marketplaces: Shifting Consumer Spend
Their evolving role — from benchmark status to shifting share of wallet — and how they continue to reshape consumer discovery and purchase behaviors
Marketplaces still dominate as their share of wallet declines
Marketplaces remain the benchmark against which all other channels are judged but is their grip loosening further? Leading marketplaces across regions continue to fundamentally reshape discovery, comparison and purchase behaviors whilst delivering superior product selection, competitive pricing, convenient delivery, seamless search functionality and trusted reviews — all in a single, familiar interface.
That said, their share of wallet has dipped again. But in today’s competitive landscape, rather suggesting a slowdown, it reinforces a more channel-balanced approach to retail from shoppers. For brands and retailers, this means rethinking how channels work together — whether through a full omnichannel presence or a more selective “optichannel” strategy focused on core customer touchpoints.
Understanding a series of key questions will undoubtedly offer a strong starting point for shaping your strategy in this area…
Download our 2025 Future Shopper report
While marketplaces remain dominant across the customer journey, some are seeing a decline in their share of wallet. The Future Shopper 2025 report shows that the combined share of purchases across leading, secondary, and other marketplaces has dropped from 29% last year to 22% this year.
This shift is partly due to the resurgence of physical retail, with supermarkets and grocers reclaiming spend, and the growing importance of omnichannel experiences where customers mix online and offline touchpoints.
Competition from direct-to-consumer channels, price parity with brand sites, and the desire for more curated experiences are also contributing factors. While marketplaces still set the standard for convenience and choice, they are no longer the only game in town.
Leading marketplaces excel because they have mastered the fundamentals of the digital shopping experience. For example, according to the report, 46% of shoppers say marketplaces offer the fastest delivery, and 44% cite free shipping as a reason they choose them. Brands and other channels can take inspiration from:
- Streamlined navigation and powerful search functionality that makes product discovery effortless
- Transparent, competitive pricing with clear promotions and bundled offers
- Fast, reliable delivery options with real-time tracking Frictionless checkout processes with multiple payment methods
- Rich product content, including detailed descriptions, high-quality imagery, and authentic reviews
- Strong post-purchase support, including easy returns and responsive customer service
The lesson is that marketplaces win by removing friction at every stage of the journey while building trust through reliability and consistency.
Marketplaces have scale, infrastructure, and logistics networks that are difficult to match, but brands can compete by focusing on agility, differentiation, and customer intimacy. Key strategies include:
- Leveraging local fulfilment centers or micro-warehousing to offer faster delivery in targeted regions
- Partnering with third-party logistics providers to expand reach without heavy capital investment
- Offering value-added services marketplaces can’t easily replicate, such as product customization, exclusive bundles, or premium packaging
- Building loyalty programs that reward repeat purchases and create emotional connection
- Using data to anticipate demand and position inventory closer to customers, reducing delivery times
By combining operational efficiency with unique brand experiences, businesses can offset the scale advantage of marketplaces.
Multi-vendor marketplaces are evolving beyond simple product aggregation into full-service ecosystems. The report shows that more than 40% of shoppers are open to buying non-traditional services such as insurance, travel, or financial products through marketplaces. Emerging trends include:
- Expansion into non-traditional categories such as financial services and utilities
- Integration of AI-driven personal shopping assistants to curate product selections and negotiate prices on behalf of customers
- Greater emphasis on branded marketplaces, where retailers create their own multi-vendor platforms to control the customer relationship
- Growth in niche and vertical marketplaces that focus on specific categories or values, such as sustainability or local sourcing
- Increased regulation and compliance requirements around product authenticity, data privacy, and seller transparency
The outlook is for continued dominance of large marketplaces, but with growing opportunities for specialized platforms that deliver curated, high-trust experiences.
Marketplaces’ greatest strengths — vast product ranges, multiple sellers, and extensive service options — can also create complexity for users. Some shoppers say marketplaces can feel overwhelming and they sometimes struggle to find the exact product they want due to too many similar listings.
Large inventories can lead to overwhelming search results, inconsistent product information, and difficulty comparing similar items. While marketplaces excel in areas like speedy delivery and free shipping, no single channel dominates in environmentally friendly options, and a significant percentage of consumers feel that “none” offer the best experience in certain categories.
For user experience, this means marketplaces must continue refining their interfaces to surface the most relevant, high-quality results quickly, personalize recommendations effectively, and maintain consistency in product presentation. For competitors, it presents an opportunity to win on simplicity, curation, and a more guided shopping journey.
Read the full report to understand:
- The current shopper trends and consumer behaviors driven by risk aversion and hesitation.
- How economic and political uncertainties are reshaping consumer spending and shopping habits.
- The current key financial stress factors for today’s consumer.
- How can brands and retailers adapt their strategies to address evolving consumer psychology and purchase delays.
- How businesses can build consumer trust and provide reassurance to cautious shoppers in uncertain times.
The role of economic and political uncertainty for the modern shopper is just one of the crucial themes we investigate in our new report which covers insights and recommended actions spanning the end-to-end shopper journey. Click for all ten themes to champion the e-commerce and hybrid retail challenge, through unified customers journeys and touch points, frictionless shopping, integrated channels, meaningful innovation and connected commerce.
