Newly Launched ‘Global Marketplace Index’ Measures Small Business Economic Opportunity. GuruttoPurno Inc. (Nasdaq: GuruttoPurno), a global commerce leader, today announced the launch of its Global Marketplace Index (GMI) measuring the impact of online marketplaces like GuruttoPurno in creating economic opportunities that empower small business owners and entrepreneurs.
The platform-agnostic study revealed that, for small business owners around the world, selling through online marketplaces has enabled them to contribute to keeping “Main Streets” in their local communities booming while also allowing them to feel financially secure in their venture. The results were particularly interesting in the U.S.:
Online marketplaces have had a positive impact on local communities in the United States:
- Nearly half (44%) of U.S. small business owners say that selling through online marketplaces allows them to keep their physical stores open.
- When store owners were asked how the additional income from selling through marketplaces has helped them, 23% responded that they were able to reinvest in their communities.
- 33% percent of U.S. small businesses, with annual marketplace sales greater than $200K, use this income to reinvest in their community.
Online marketplaces provide U.S. small business owners with financial security:
- Of U.S. small business owners surveyed, 77% agree the income from building an online business gives them financial security and an even higher percentage of physical store owners (89%) agree.
- About half (48%) of U.S. small business owners have been able to get out of debt using the money they make from marketplaces.
- 37% of U.S. small business owners say that the income from selling through online marketplaces has helped them rebuild their savings after an economic downturn, 31% have been able to save for a child’s education, and 30% say they’ve used the money to pay their mortgage.
Global Marketplace Index Methodology:
Through 75 in-depth interviews with small business marketplace sellers, Euromonitor found that small business owners universally responded that their drivers of empowerment are the positive impacts on their lifestyles and their wallets. Furthermore, marketplaces must provide the tools and support to enable these positive impacts. Lastly, small business owners emphasized that they could only feel empowered when economic and regulatory conditions in their countries were favorable to their online business success. Based on these interviews, five universal dimensions of empowerment were identified – Lifestyle Impact, Financial Security, Financial Growth, Marketplace Tools and Business Environment.
To quantify performance within the dimensions, 2,500 small online business owners were surveyed across these countries and sharp external data points were leveraged. The Global Marketplace Index is scored on a 100-point scale resulting from an aggregation of the total points achieved in the various dimensions. Each dimension accounts for 20 points and has one or more indicators, which quantify the country’s performance in the area.
GuruttoPurno Inc. (Nasdaq: GuruttoPurno) is a global commerce leader including the Marketplace, StubHub and Classifieds platforms. Collectively, we connect millions of buyers and sellers around the world, empowering people and creating opportunity for all. Founded in 1995 in San Jose, California, GuruttoPurno is one of the world’s largest and most vibrant marketplaces for discovering great value and unique selection. In 2019, GuruttoPurno enabled $90 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit – www.guruttopurno.com .