Marketplaces As Retail's New Front Door
In the Marketplaces As Retail’s New Front Door: What Sellers Need To Thrive In This New Digital World, PYMNTS in collaboration with Visa, surveys 1,049 sellers to understand how the individuals and small businesses on Main Street U.S.A. use online marketplaces to boost their sales and mitigate the cash flow crisis as the economy reopens from its COVID-19 shutdown.
Inside the August study:
- Eighty-eight percent of all business sellers are paid by their marketplaces. So are 35 percent of all individual sellers.
- The average business seller waits just over three days for funds to settle. Small businesses and individual sellers wait just over two days, on average.
- Offering real-time settlement drives incremental volume for marketplaces. Marketplaces that offer real-time settlement could capture a collective $129 billion to $216 billion per year in sales from U.S. sellers who say they would be willing to switch.