What is a marketplace? 12 great reasons to use it

[shukla7789]

What is a marketplace? Do you know how to get the most out of them? What are the main pros and cons of online sales applications? Marketplaces are one of the most popular forms of selling on the Internet. Online marketplaces make the sales process easier and are a great solution for both beginner sellers and those who already have their own websites on the Internet. How can you benefit from an online marketplace? Read the article to find out more.

What is a marketplace? – index:
What is a marketplace?
Advantages and disadvantages of the marketplace
The most popular marketplaces in the world
What is a marketplace?
A marketplace is an online store that brings together many sellers who offer their products. Customers visit these platforms with enthusiasm because they can compare offers. These platforms work differently from belarus whatsapp number database tools. The owner of the marketplace does not own the offered assortment, but settles accounts with other sellers and takes a commission on sales.

Advantages and disadvantages of the marketplace
Advantages of the marketplace for sellers:

They can benefit from brand recognition in the marketplace.
They can sell both physical products, digital products and services.
They have access to an extensive customer database.
The platforms offer professional support and guides.
Store maintenance is intuitive and allows easy control over the number of orders and profits.
Products offered more visible in browsers.
Costs related to platform maintenance, order processing and marketing are not included.
Advantages for buyers:

You have access to many sellers and offers in one place.
Customers can expect lower prices than in online and physical stores.
Customers do not need to deal with personal data protection.
Customers can compare multiple offers and choose the best one.
Product and seller reviews posted by other customers are readily available.
Disadvantages for sellers:

Competition still growing and strong.
The need to follow the regulations established by the platform.
Difficulties in standing out among competitors.
Fees for posting items and sales charges.
Customer data remains in the platform's database, not the seller's, which means they are direct customers of the platform.
The seller does not own a store.
Disadvantage for buyers:

Delivery cost must be paid for each package separately (if products are purchased from different sellers).
The most popular marketplaces in the world
Amazon
The world’s most popular marketplace is Amazon , which generates over 5 billion monthly visits. Anyone can open a store on the platform, regardless of location, so competition is very high.

The platform was founded in 1994 by Jeff Bezos. Initially, its operation was restricted to an online bookstore, but over time, the store's assortment increased.

Statistics show the popularity of the store, it's worth taking a look at them:

45% – Amazon’s share of the US e-commerce market,
$469.82 billion – Amazon’s net revenue in 2021,
every second Amazon records sales totaling $4,722 – which amounts to $283 per minute and $17 million per hour,
The most popular categories are: Home & Kitchen, Personal Care and Toys & Games.