Springbord

Springbord

  • Home
  • Real Estate
  • ECommerce
  • Data Labeling Services
  • Entity Reference Data
  • Sports Data Capture
  • Online Travel Aggregator
M E N U

Online Marketplace: The Next Frontier Of Retail

Online Marketplace Read time 2 min

Online Marketplace

Whether you are an accountant, a mortgage company, a financial advisor, or an insurance broker, without an online presence you are just another other fish out of the water, fighting and struggling for ideas and concepts to make your business thrive. The ability of the internet to build brands have made professionals from virtually every industry realise its importance and have had them jump onto the bandwagon of online marketplaces – the next frontier of eCommerce.

What are online marketplaces?

Online marketplaces are e-commerce sites (websites or apps) where multiple third parties sell services and products, the transactions are processed by the marketplace operator, who actually holds no inventory of his own. Consumers benefit from larger scale and choice and sellers benefit from higher volume.

Types of online marketplaces

  1. Horizontal
    • A horizontal marketplace sells services or products of several categories but they all share a common trait. Consumers get to follow their passions and buy and sell from like-minded individuals at the same time. For instance, Dote
  1. Vertical
    • A vertical marketplace sells services or products of one type, through from several sources. For instance, TrueFacet.com sells only jewelry related products
  1. Global
    • A global marketplace will sell all kinds of services or products of various categories or nature from several sources. For instance, eBay that sells almost everything
  1. Hybrid
    • The perfect example is Amazon.com that sells own as well as other’s products across a variety of categories

What’s driving the growth of online marketplaces?

Online marketplaces are deemed the new department stores; replacing the brick-and-mortar multi-brand retail stores. Consumers prefer online marketplaces for the wide range of products and services, 24×7 assistance, fast shipping, and the convenience of having to deal with one app/website for most of their needs.  What’s more – online global marketplaces have the power to connect and democratize the world through open commerce. But what do online marketplaces need in order to pass the test of time and prove their staying power once the initial buzz wears off?

Here are a few tips for marketplaces to succeed:

  1. Effectively manage inventory to create sufficient liquidity in both selling and buying, and reduce friction and resistance on both the sides of the marketplace.
  2. Offer more options and more flexibility to encourage higher consumer participation.
  3. To create both reactive and proactive mechanisms and ensure transparency across the value chain in order to address inevitable marketplace issues. 

Online marketplaces will be the new battleground for retailers

As eCommerce continues to enjoy unparalleled consumer mind and wallet share, the future will see more niche and service-related marketplaces take centerstage. On the seller side, the marketplace landscape needs tighter regulations and standards to protect consumers from counterfeit products, enforce rules about inventory, fulfilment windows, shipping costs, deliverability, and even returns and chargebacks. Voice based marketplaces and international online marketplaces are also set to emerge with technology giants such as Amazon and Google already debuting their products in this space. As the omni-channel retail world evolves, online marketplaces will be a key segment to watch for businesses and consumers alike.

Read more
Admin
Tuesday, 19 June 2018 / Published in eCommerce, Marketplace Management
Lease Abstraction Services
Amazon Marketplace Management and Product Listing Services

Recommended Articles

Top 5 tips for sellers to consider to maximize sales on Amazon
Top 5 tips for sellers to consider to maximize sales on Amazon
Read more
Tips-to-Create-Compelling-Amazon-Product-Descriptions
Tips to Create Compelling Amazon Product Descriptions
Read more
Amazon-Enhanced-Brand-Content-EBC
Unlocking Success on Amazon: Power of Enhanced Brand Content
Read more

Blog Search

Efficient Catalog Management can help Ecommerce Players build Competitive Differentiation

Recent Ecommerce Posts

  • Why You Should Outsource Your E-commerce Image Editing Service

    Why You Should Outsource Your E-commerce Image Editing Service

  • The Role of Customer Service in Amazon Marketplace

    The Role of Customer Service in Amazon Marketplace

  • Managing Ecommerce Product Catalogs: A Beginner’s Guide

    Managing Ecommerce Product Catalogs: A Beginner’s Guide

  • How to Handle Negative Feedback on Amazon in 2023

    How to Handle Negative Feedback on Amazon in 2023

  • Ecommerce Pricing Strategy: How to Maximize Profits and Sales

    Ecommerce Pricing Strategy: How to Maximize Profits and Sales

Recent Posts

  • Top Lease Abstraction Frequently Asked Questions

    Top Lease Abstraction Frequently Asked Questions

  • Ready-to-Build-Data-That-Performs-Featured-image

    Top 5 Computer Vision Applications in 2025

  • Three Useful Ways to Address Common Commercial Lease Abstraction Pitfalls

  • Benefits of Outsourcing Lease Abstraction Services in Retail and Healthcare

    Benefits of Outsourcing Lease Abstraction Services in Retail and Healthcare

  • The-Top-5-Video-Annotation-Project-Errors

    The Top 5 Video Annotation Project Errors

EXPLORE BY CATEGORIES – E-COMMERCE

  • ECommerce
  • Product Catalog Management
  • Product Description Writing
  • Image Editing Services
  • Amazon Marketplace Management
  • Payment Reconciliation
  • Experience Listing
  • Flyer Creation Tool
  • Amazon Services
  • Account Management Services
  • Accounting Services
  • Advertising Optimization
  • Cataloging Services
  • Enhanced Brand Content
  • Image Optimization Services
  • Translation Services

GET A FREE QUOTE

Please fill this for and we'll get back to you as soon as possible!

Connect With Us
hello@springbord.com

Categories

Real Estate

Lease Abstraction
Lease Administration
Lease Accounting
CAM Reconciliation
Argus Financial Modeling
Real Estate Marketing

Categories

E-Commerce

Marketplace Management
Amazon Marketplace
Product Description Writing

Springbord is a leading global information service provider specialized in providing customized data solutions to diverse industries.

Industry

Real Estate
E-Commerce
Financial Services
Information Publishing
Online Travel Aggregators
Shipping

Services

Data Management
Content Writing
Property Management
Finance & Accounting
Predictive Analysis
Sports Data Capture

Company

About Us
Why Springbord
Thought Leadership
Contact Us

Stay Connected

© Springbord. All rights are reserved

Careers   /   Privacy Policy   /   F.A.Q.   /   Terms and Conditions   /   Sitemap   /   Disclaimer Policy

TOP