Amazon remains the top marketplace—but rivals are catching up

Surprise, surprise: Amazon is still the reigning champion of ecommerce marketplaces.

But according to Markets Insider, competitors like Shein, Temu, and TikTok Shop are making notable strides. This is based on a survey of? 1,000 U.S. consumers, which provided insights into recent shopping habits.

?? What’s up in the ecommerce scene?

• Temu has timing. Despite coming later than Shein (launched in the U.S. in September 2022), Temu has seen massive growth. 36% of respondents have purchased from the shop in the past 3 months alone and 23% plan on increasing their spending.
• Shein is shining. Shein has been steadily growing since its ecommerce debut in 2008. It launched in the U.S. in 2017 and opened its doors globally in 2023.? 26% of respondents have purchased from the shop, up from 19% in the previous survey.
• TikTok is up by 2. TikTok Shop’s consumer share rose from 14% to 16%. Plus, 9.2% of respondents are willing to spend more on the app in the next 12 months.

??? And what’s up with Amazon?

Not surprisingly, Amazon still beats the competition, with 64% of respondents preferring the platform. The marketplace is constantly striving to be the most customer-centric platform, even taking a page out of its competitors’ playbook by launching a new bargain section.

That’s great news, especially if you’re participating this coming Prime Day. But of course, a good way to further widen your reach is to try out other channels.