An online marketplace brings together a wide variety of products for sale. It comes under the general classification of an ecommerce website, but there is one key difference. This difference is discussed in detail in one of our posts. The purpose of this website is to convey information about online marketplaces.
From a business’s point-of-view, an online marketplace has many benefits, besides the usual ones such as a reduction in overhead costs and so forth. A startup can sell their product(s) through an online marketplace without bothering about the hurdles of setting up their own ecommerce site for this. For one, they will not have to worry about creating consumer traffic to their website. This is one of the biggest advantages of selling goods through a marketplace website.
From the customer’s perspective, they are getting a single place that compiles a broader selection of goods. So they can purchase products more easily than shopping around (and wasting a lot of time while at it) to find the right item. We have touched upon this point in our post about the advantages of selling products through a marketplace website.
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