A marketplace connects Sellers and Buyers through the Internet and thereby fosters efficiency in an otherwise inefficient market
A Marketplace is an ecommerce platform that enables Individuals as well as Business to either list their items for sale or set up online storefonts on the marketplace platform and leverage the platform and its services [search, viewing product information, buying, payment, order management etc
What sets a Marketplace apart from B2B eCommerce sites is that fact that a marketplace is an aggregation of sellers and their inventory. From a buyer's perspective, he/she gets to choose from multiple sellers and therefore can pick & choose / bargain hunt as required
Because of the larger number of sellers in a marketplace, the consumer gets the benefit of greater choice in inventory and also because of the inherent competition between sellers selling similar products, the buyer also gets the benefit of lower prices and better customer service
The seller primarily needs to focus on sourcing, listing his inventory, managing orders and fulfillment and customer support. The marketplace platform takes care of the Technology infrastructure, payment processing, managing fraud & risk etc
eBay is an example of an Online marketplace
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