![\"Online](\"https:\/\/www.springbord.com\/blog\/wp-content\/uploads\/2018\/06\/Online-Marketplace.jpg\")
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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 \u2013 the next frontier of eCommerce.<\/p>\n
What are online marketplaces?<\/strong><\/p>\n 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.<\/p>\n Types of online marketplaces<\/strong><\/p>\n What\u2019s driving the growth of <\/strong>online marketplaces?<\/strong><\/p>\n 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. \u00a0What\u2019s more \u2013 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?<\/p>\n Here are a few tips for marketplaces to succeed:<\/p>\n Online marketplaces will be the new battleground for retailers<\/strong><\/p>\n 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<\/a><\/strong> will be a key segment to watch for businesses and consumers alike.<\/p>\n","protected":false},"excerpt":{"rendered":" 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<\/p>\n","protected":false},"author":33,"featured_media":5187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[525,654],"tags":[],"class_list":["post-5186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ecommerce","category-marketplace-management"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n
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