The report features data on product category growth, channel popularity, and consumer purchasing methods
Feedonomics, the market leader in product feed management, has published its “2023 merchant trends report,” a free ebook featuring data insights on notable product categories, mobile shopping, marketplaces, social commerce channels, and buy now, pay later (BNPL).
The report includes data from 30,000 BigCommerce merchants, comparing year-over-year (YOY) developments in gross merchandise volume (GMV), average order value (AOV), and order volume. Integration figures from Feedonomics also provide a glimpse into new-channel popularity for marketplaces.
Some of the most notable takeaways were from the product category section, where CBD (136%) and luggage (115%) saw the biggest YOY increases in GMV, while home and garden fell by nearly 14%.
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Ecommerce businesses looking to expand into new channels should note the rising GMV and AOV of social commerce, and should optimize technologies to take advantage of the growth in mobile commerce.
When it comes to marketplaces, many merchants have a presence on channels that are considered table stakes, but still have options for extending their customer bases. Of the marketplace integrations that were brand new to Feedonomics merchants, two of the top six were invitation-only marketplaces, while Amazon was tied for the third-most-popular addition.
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“Ecommerce is changing at such a rapid pace, and this report reinforces just how much can change in a year and which trends are sticking,” said Shawn Lipman, CEO at Feedonomics. “Feedonomics is a key part of the ecommerce infrastructure for many of the world’s biggest brands. As such, we’re always looking for opportunities to shed some light on the industry and help our clients position themselves for success.”
Product feed management platforms like Feedonomics are a fundamental piece of any omnichannel growth strategy, because merchants need a scalable way to optimize their product listings, syndicate them to numerous shopping destinations, and keep ecommerce data synchronized across systems.