Whether you’re researching eCommerce business ideas or learning how to make wholesale sales, you’ve likely heard of marketplace. But there are subtleties to this concept that are important to understand. Listed properly, your goods can find the audience they’re meant for instead of being lost in a sea of competitors’ listings.
Marketplace is a type of online platform that offers a wide range of products from different sellers, often providing a comprehensive e-commerce solution for managing and shipping inventory. It typically offers a number of benefits to both buyers and sellers to create a value proposition that encourages them to join the marketplace.
Product marketplaces are the most common examples of marketplaces. These include eBay and Amazon, both of which offer a variety of new and used items from different sellers. But there are many other examples, including Etsy which connects artisanal sellers to buyers who appreciate handmade goods, and Alibaba which allows businesses to purchase from suppliers around the world.
Horizontal marketplaces, which are built on top of existing ecommerce platforms, are another popular option for small business owners. These can provide additional traffic and a more diverse selection of products that will keep consumers on the platform rather than navigating to other sites. They also reduce the risk of investing in infrastructure that may not have the right audience, and allow businesses to focus their efforts on making customers happy. marketplace