As the world becomes more digital, companies have to adapt to market changes and increase their adoption of online strategies. The following trends are shaping the Digital Consumer market:

• Marketplaces continue to grow: Online marketplaces are growing rapidly, boosting niche sellers’ visibility while increasing competition and diversification.
• The rise of Social Media shopping: Retailers blend social media with commerce, using its reach, AR/VR, and chatbots to enhance customer experience and service.
• ESG and e-commerce: Businesses prioritize sustainability as consumers seek ethical brands, boosting demand for renewable energy, ethical labour practices, waste reduction and supply chain transparency.
• AI-powered personalisation becoming key: AI-driven data is reshaping e-commerce with personalization, subscriptions, and custom offerings, while requiring tech investment to improve operations and competitiveness.
• Rising performance of websites: Optimizing website speed, performance, and interactivity is crucial for customer satisfaction, with mobile-friendly, fast-loading, and adaptive digital experiences becoming key competitive advantages.
• Direct-to-consumer (“D2C”): Brands are expanding D2C channels to bypass retailers, gaining control over brand image, customer data, and profit margins while leveraging social media and personalization to drive loyalty and insights.

As can be seen on the chart below, Marketplaces consistently trade at higher EBITDA multiples than traditional E-commerce players, with a peak in early 2021 driven primarily by the COVID-19 pandemic. However, since mid-2021, as economies reopened and consumer behavior normalized, both sectors have seen more stable multiples, with marketplaces typically maintaining a premium over traditional E-commerce due to scalability and an asset-light model.

There are numerous private equity platforms in the market looking for acquisitions and further scaling. Below you will find an overview of a selection of the Benelux private equity platforms active in the Digital Consumer market.

Please reach out to Maurits Odekerken or Jan Willem Jonkman if you would like to receive our full report including key KPIs in the market.