What is a marketplace ?
Marketplace definition in its widest sense is a place where buyers and sellers meet for selling and buying products. A souk in Morrocco is the perfect example of what is a marketplace physically speaking.
Let’s focus on online marketplaces :
Online Marketplaces are expanding around us and everyone knows well at least a few of them : eBay, AirBnB, Uber and so on…
The online marketplace definition comes from their common point : they all are online platforms where multiple sellers and multiple buyers can meet and proceed to transactions without intervention of the mother-brand. For example, eBay does not interveine in relationships between its vendors and buyers on its platform.
Even if every marketplaces deal with different markets and offer different products and services, they all have the same objectives :
- • Connecting buyers and sellers
- • Building relationships between users
- • Accelerating finding partners
- • Providing new opportunities for buying and selling
- • Making Business
- • Facilitating transactions
The marketplace definition would not be complete without all of these objectives, that are shared on every marketplaces wether they are B2C or B2B.
Regarding B2B, we can also add to the online marketplace definition that a marketplace is a time-saving and money-saving solution. And this is really important point for every company.
After understanding what is a marketplace, you can imagine all the possibilities this new marketplace solution offers to brands and understand why it is so highly demanded.
The future is digital and it is time to do it !