Industry: ICT & Media | Publish Date: 29-Jun-2024 | No of Pages: 135 | No. of Tables: 101 | No. of Figures: 46 | Format: PDF | Report Code : N/A
The New Zealand Digital Marketplace Market size was valued at USD 6.29 billion in 2023, and is predicted to reach USD 9.04 billion by 2030, at a CAGR of 5.1% from 2024 to 2030. Digital marketplace market, referred to interchangeably as online marketplaces or digital commerce platforms, serve as virtual hubs where individuals engage in purchasing or selling goods, services, or information. These internet shopping platforms function as intermediaries, facilitating transactions between various parties, including buyers and sellers, within a centralized online environment tailored for effortless product discovery, purchasing, and delivery. Notable examples of digital marketplaces encompass well-established e-commerce platforms such as Amazon, eBay, and Alibaba, as well as service-oriented platforms such as Upwork and Fiverr.
Employing sophisticated technology, these platforms streamline transaction processes, ensuring prompt and secure payment processing while safeguarding the financial data of all involved parties. Additionally, they enrich user experiences by offering features such as customer reviews, ratings, and mechanisms for resolving transaction-related issues. Consequently, virtual marketplaces leverage technology to enhance the overall online shopping experience, making it more convenient and secure for both buyers and sellers. They play an indispensable role in the modern economy by bridging the gap between businesses and consumers across different geographic locations, thereby facilitating seamless and convenient global commerce.
The initiatives undertaken by key market players, such as Mighty Ape, one of New Zealand's major online retailers, to offer same-day or overnight delivery of their products, are propelling the digital marketplace market in the country. In November 2023, Mighty Ape established a large distribution center in Christchurch to encourage more South Islanders to engage in online shopping.
Leveraging the city's airport, Mighty Ape provides same-day or overnight delivery for a wide array of products, aiming to revolutionize the online shopping experience for customers in the region. This commitment to rapid delivery aligns with evolving consumer expectations and contributes to the growing popularity of the New Zealand digital marketplace market.
The expansion of Australian luggage brand "July" into New Zealand by launching an online store significantly drives the digital marketplace market in the country. The brand's objective is to enhance the luggage market by offering better-designed products at competitive prices. This expansion into New Zealand represents a significant milestone in its growth strategy, providing Kiwi customers with a new option for high-quality luggage and accessories.
Obstacles stemming from cybersecurity threats and consumer trust issues hinder the New Zealand digital marketplace market expansion. When consumers perceive online platforms as vulnerable to cyberattacks, they hesitate to share personal information or conduct transactions due to concerns about privacy breaches or financial harm.
This loss of trust lead to decreased usage of digital marketplaces and reluctance to engage in online shopping, thereby impeding market growth in the region. Additionally, occurrences of data breaches or fraudulent activities tarnish the reputation of virtual marketplaces, dissuading both consumers and businesses from active participation in the digital marketplace environment.
The integration of Augmented Reality (AR) and Virtual Reality (VR) technologies presents an opportunity for online marketplaces to enhance user experiences. By incorporating AR and VR, online marketplace provide users with immersive and interactive shopping experiences.
These technologies allow consumers to visualize products in real-world settings, virtually try them before making a purchase, and explore dynamic virtual environments. Such immersive experiences not only enhance customer engagement and foster brand loyalty but also drive sales.
Moreover, AR and VR empower businesses to effectively showcase their products by offering detailed information and personalized recommendations to users. Thus, the integration of AR and VR technologies are capable of the potential to transform the future of digital marketplaces by delivering innovative and compelling shopping experiences.
The key market players operating in the New Zealand digital marketplace industry include Amazon.com, Inc., Walmart Inc., eBay Inc., Alibaba Group Holding Limited, Rakuten Group, Inc., Sea Limited, MercadoLibre, Inc., JD.com, Inc., Etsy, Inc., Allegro.eu, Kogan.com, SEEK, Carsales, REA Group Ltd., Airtasker Ltd. and others.
Desktop
Mobile
Tablets
Business to Business (B2B)
Business to Consumer (B2C)
Consumer to Consumer (C2C)
Commercial
Personal
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 6.29 Billion |
Revenue Forecast in 2030 |
USD 9.04 Billion |
Growth Rate |
CAGR of 5.1% from 2024 to 2030 |
Analysis Period |
2023–2030 |
Base Year Considered |
2023 |
Forecast Period |
2024–2030 |
Market Size Estimation |
Billion (USD) |
Growth Factors |
|
Companies Profiled |
15 |
Market Share |
Available for 10 companies |
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
Amazon.com, Inc.
Walmart Inc.
eBay Inc.
Alibaba Group Holding Limited
Rakuten Group, Inc.
Sea Limited
MercadoLibre, Inc.
JD.com, Inc.
Etsy, Inc.
Allegro.eu
Kogan.com
SEEK
Carsales
REA Group Ltd.
Airtasker Ltd.