Online marketplaces, thanks to the possibility of reaching a pre-existing customer base, have become very popular selling channels. Check our basics about marketplaces.

What is an online marketplace?

An online marketplace is an eCommerce website, sometimes even application, that provides products and services to consumers from external companies. The key to marketplaces is offering inventory from multiple providers. The marketplace itself doesn’t sell its own products, but there are exceptions like Amazon. This type of business model allows you to make purchases from many different sources. All of the transactions are processed through the marketplace owner. 

Who are marketplaces for? If you are wondering about implementing an online marketplace in your business, you’ve come to the right place. Marketplaces allow you to reach a wide range of customers quickly. This selling channel is worth considering for producers that want to sell their own and unique products like clothing, jewelry, and interior decoration elements. It is also a solution for retailers who want to sell niche products such as vinyl records and gadgets for collectors. The last group that could benefit from marketplaces is retailers offering products at lower prices, such as electronics and sports accessories. Online marketplaces can bring benefits to different types of companies, including both single and larger brands.

Now that you know what a marketplace is, we can move on to some examples.

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Ola Mazur

Junior Editor at Divante eCommerce Software House | LinkedIn | Twitter

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