Online shopping has become a common thing for a modern person. It is where marketplaces have played their role.
Marketplace is an online trading platform, where buyers and sellers initiate transactions. The platform provides a variety of goods and services for the clients and helps the suppliers to promote their products.
Depending on the type of a marketplace, it uses different monetization models: fees for listing of a product, transactions fees, membership fees etc. Amazon, eBay, Airbnb are great examples of successful marketplaces.
Marketplaces provide benefits both for vendors and buyers:
- create their own store, which is based on a working online platform
- introduce their products to the online market
- get an access to a wider audience of customers
- have a bigger variety of products
- save time on the search and purchase of a needed product
- get a guarantee of the best price
Further development of marketplaces will connect buyers and sellers even more, which brings us to a convenient and reasonable time and money spending.
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