Term
Marketplace Model
A marketplace is an online market where sellers and buyers of one or different business categories can connect and trade. Unlike multi-store platforms where the platform administrators manage the shipping, fulfillment and delivery, the marketplace may or may not have such facilities.
The majority of the time marketplace is created to organize and digitize an unorganized business category with no set price uniformity and scattered buyers and sellers. With a such digital platform, buyers and sellers can connect, bid and buy products from the platform. These platforms have business-specific functionalities and some marketplaces are created for a personalized business or B2B purposes.
