What are marketplaces?

The rise of the marketplaces

 

Marketplaces are a platform where companies can sell their products or services to their customers. This can be done gathering inventory information, which is then uploaded onto the marketplace. This procedure can easily transform your local business into an international business in no time. They do this by handling the payment and processing of orders. This can be seen as an extra level of security for both the buyer and seller. When an order is made the marketplaces ensures and legitimizes that the payment is not fraudulent.  Customer service/ satisfaction is also a large part of their task as a liaison between the buyer and the seller.

 

According to a study done by the Ecommerce Foundation amongst 250 retailer managers across the globe, the expectation is that market places will own 40% of the online retail market in 2010.[

 

Popular international marketplaces

 

These popular international marketplaces are Amazon, Zalando, Alibaba's TMall and Mercado Libre. Most countries also have strong national players like Bol.com (Netherlands) and Allegro (Poland). The market places are growing very rapidly with Amazon and Alibaba taking the lead.

 

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