What is an online marketplace?
Throughout history, marketplaces have been integral to communities. They are the place where buyers and sellers meet, where information is exchanged and relationships are developed.
Digital marketplaces work in exactly the same way, except that communities typically share an area of interest, rather than a geographic location.
Marketplaces can also provide consumers or ‘tribes’ with a greater choice of products, increased convenience and lower prices. Sellers, meanwhile, can access a much larger group of potential customers without holding stock on the shelf and they benefit from the technical infrastructure that the marketplace itself provides such as stock display and payment processing.