While multichannel retailers continue to struggle, online marketplaces like Amazon and Asos are thriving, with spend set to rise by £13.1 billion over the next five years. According to GlobalData, a leading data and analytics company, UK online marketplace spend will rise by 50.1% to £39.3bn by 2024, posing a bigger threat to retailers that choose to sell exclusively on their own sites. General merchandisers Amazon and eBay dominate the online marketplaces market and are forecast to account for over 90% of spend in 2019 as their reputations, huge product ranges and fulfilment options make them the first port of call for many shoppers.The company has also found that spend on brand new items will rise by 53.9% over the next five years, a much faster pace than spend on second hand products, which is forecasted to grow by 29.8% over the same period. “Growth in the second hand market will be driven by sites dedicated to resale, in particular Depop, which looks and functions like Instagram with an intuitive and attractive app design that appeals to young digital natives – Emily Salter explained – The presence of unique and often vintage items, lower prices, and the concept of ‘social shopping’ appeal to 16-24 year olds and are alternatives to the ubiquitous model of fast fashion and big brands. Additionally, unlike many online marketplaces, Depop is perceived as a fashion destination, which is a huge contributor to its success”.