E-COMMERCE MARKET PLACE
Ecommerce market place where one can find the number of products from various vendors, shops and several brands. The eCommerce marketplace acts as a platform where vendors can sell their products and customers can purchase products online. Marketplace administrator is a proficient that attracts the customers and brings various products together for sale, while the 3rd party vendors deal with the manufacturing and shipping process.
Most of the people nowadays prefer to buy online rather than going to a retailer to buy products. Another major benefit of the online market place is they supply products from various brands and companies, so if one goes to a shop, they can find only a limited number of products the retailer sells, but if they buy online, they will have a lot of options. This is one of the main reasons why 21st-century people tend to buy online rather than buying from a retailer near them.
There are several online marketplaces that sell products online, for example:
Amazon, Flipkart, eBay, Walmart, Etsy, Cdiscount, Lazada, Overstock, Google shopping, Manomano, Catch, Facebook Shop, AliExpress, Wish.com, Fruugo, Shopee, Best buy, Newsegg, Mercadolibre, Reverb, Groupon, Bonanza, Jet, Sears, Cdon, PriceFalls, Wayfair, Tophatter, Fydiq, Spartoo, Discogs, Tokopedia, Houzz, Raukten, Flubit, Opensky, Kmart, Full Beauty, Hayneedle, Fingerhut, Kohls, LivingSocial, Quibids, Ecarter, Staples, Woot, Bol.com, Barnes & Noble, Shop.com, Zalando, Evine, Coupang, Souq, Lelong, Tmall, Vip, allegro, Taobao, Jd.com. are an online retailer that acts as a marketplace for the vendors to sell their products and for the customer to choose the best products.
There are different types of e-marketplaces based on various business models and their operations, they are:
Buyer oriented e-marketplace:
This marketplace is run by buyers who wanted to establish a healthy purchasing environment. This is in favour of the buyer in controlling costs and to get the best prices from the supplier. This is also helpful for the supplier to promote their products through a platform where a large number of customers can check out their products.
Supplier oriented e-marketplace:
This marketplace is run by a group of suppliers to establish a good sales platform and to increase the number of buyers together. In this marketplace, the buyer can search the product by the product or the using offered service. The buyer will have the ability to access the details of the product along with the details of the supplier.
Vertical and Horizontal e-marketplace:
A vertical e-marketplace gives an online business that deals with complicated industry sectors such as automotive, textile, construction and chemical industries. A horizontal e-marketplace is where the buyer and merchant get joined to expand the business.
This marketplace is handled by the third party to connect the products from the retailer to the customer. Anyone can visit this marketplace to sell or to purchase the products. Anyone can access the details of the product to purchase it and retailers can advertise their products here.
Compared to retailer stores on e-marketplaces one can find a greater number of products from various suppliers, so the customer will get a chance to choose the best product for the best price.