A marketplace is a platform or place where sellers who do online business can sell goods or services online. The term Marketplace or online marketplace may already be familiar to some people recently, even though the term marketplace is English from the word “market”.
However, the term marketplace has a more specific term and has many meanings, especially in business, such as; a place where various sellers with the same product and buyers who have the same interest or more simply is a place where sellers and buyers meet like the true meaning of the market.
The Advantages of Online Marketplace Business Are
The following are some of the advantages of running an online business through a marketplace:
a. Greater opportunities through community
Online Marketspace can be said as a place for many sellers. Through this platform, you can create bigger business opportunities by building relationships with other sellers through the community. You can share knowledge, share opportunities, and cooperate in building new opportunities.
b. No Need To Be Afraid Of Losing Customers
Through the online platform, you don’t have to lose customers. Consumers visiting online marketplaces do have the motivation to buy certain goods. You don’t need expensive or complicated promotional tools to market your products. Usually, online marketplaces are trusted by consumers so you don’t need to build consumer trust.
c. Good Online Marketplace Features and Regulations
Online marketplace owners or companies usually have features or regulations that can increase the credibility and security of your store. One of the features you get is insurance, payment integration, promotions, joint accounts, and also store verification as a form of appreciation given by online marketplace companies.
Reputation and verification features that are usually owned by online marketplaces can affect people’s trust to buy your product during intense competition in the online marketplace.
d. No Need Big Capital
Unlike offline marketplaces, online platforms do not require a place to rent. Some integrated online marketplaces usually apply a “rent” fee but not as much as the cost of renting a place such as a shop or a field.
But free online marketplaces such as Facebook groups, online buying and selling forums, you don’t need to pay anything at all.