There's been a reported boom in businesses selling on eBay, Amazon and Google

There has been a surge of businesses joining GS1 UK to sell their products via online marketplaces.

The number of business joining membership organisation GS1 UK to secure unique identification numbers in order to trade on sites such as Amazon, Google Shopping, and eBay has jumped 300 per cent year-on-year.

More than 2,400 businesses joined GS1 UK, the supply chain standards organisation, to sell via online marketplaces in 2017, compared to 800 in 2016 and 450 in 2015.

Monica Bird, head of marketplaces for GS1 UK, said: “Online marketplaces are fast becoming the top choice for businesses looking to sell their products around the world.

“Many SMEs are now choosing these sites as their first route to market, with some using them as their only sales channel, as they provide access to millions of consumers, without the costs of developing their own website.”

Amazon is the most popular online marketplace for new joiners with 75 per cent looking to sell on the site, while 41 per cent are looking to use eBay.

It has been said that the average revenue of business joining GS1 UK to use online marketplace has fallen 15 per cent year-on-year, from £1.3m in 2016 to £1.1m in 2017 as more small businesses look to sell products via third-party platforms.

Today (Cyber Monday) is predicted to be one of the biggest shopping days of the year for online marketplaces, with retailers offering significant discounts on their products. Last year, consumers spent £1.1 billion shopping online on Cyber Monday.

The research found that small businesses make up the majority of traders using online marketplaces to sell their goods.

Businesses also had different motivations for using third-party platforms, such as being the only sales channel or using online marketplaces as a testing ground for new products.