Not too long ago, the marketplace was a purely local affair. Artisans and farmers brought their goods to the local marketplace to be sold. But when the marketplace moved online, it shattered the very notion of local and global. You’re now able to buy anything and everything with just a few clicks, and vendors have unprecedented access to a global audience.
An online marketplace is a type of e-commerce site that connects those looking to provide a product or service (sellers) with those looking to buy that product or service (buyers). These buyers and sellers may have had trouble finding each other before, and thus the marketplace creates efficiency in an otherwise inefficient market.