Back in 1994, a young American, Jeff Bezos, founded an online bookstore, and without knowing it, he laid the foundation for the world's first Amazon marketplace.

Today, the company's profit is estimated at tens of billions of dollars, and its creator is recognized as the richest man on the planet. And all thanks to the sale of consumer goods on a giant Internet platform.

An online marketplace is a website or app that helps sellers and potential buyers find each other online. It’s place where thousands of clients going there every day because they find it convenient to shop in one place with a variety of stores.

In simple terms, a marketplace is a trading platform where goods or services from different suppliers are sold. The marketplace resembles a hypermarket: there are different sellers in one place, and buyers can shop in different stores while in the same building.

The popularity of marketplaces is constantly growing both among buyers and sellers, which is understandable. The former can buy everything they need in one place. The second does not need to do marketing, communicate with customers and puzzle over the delivery service and other organizational issues.

Marketplaces are a great tool for new brands. None of Instagram will give such first sales volume as these platforms. Even non-name brands come here and “shoot”, and people immediately begin to recognize them. The mechanism of operation is simple - marketplaces immediately offer all new products to users and promote them by raising them in the rating!

Why does any commodity business need to pay attention to marketplaces?

– constant flow of the target audience due to the popularity of the trading platform;
– the opportunity to expand the geography of sales;
– reduction in advertising costs;
– fast start;
– no need to create and promote the resource yourself.

The largest marketplaces generate 50% of global online retail sales, according to a report by the American Internet Retailer group.

Today, buyers trust marketplaces more than online stores, because they work with trusted suppliers, have their own pickup points, call centers, and deliver goods on a postpaid basis.

Ultimately, consumers benefit from marketplaces, which means they are not afraid of any antitrust laws.

Why is it profitable for companies to cooperate with marketplaces? Advantages of marketplaces:

No need to spend money on marketing and promotion. The marketplace is interested in attracting customers, as it earns commissions from sales.

No need to spend money and time to create a website. It is long and expensive to create an online store from scratch. It will cost at least $ 10,000 and will take at least two months.

Customer support and delivery. Marketplaces have their own. Therefore, these questions will not even touch you.

No need to hire additional staff. To maintain your site, you will at least need a content manager, programmer, and account manager.

Marketplaces have a unique format, all market participants benefit from the price - both manufacturers, customers and the marketplace. Everyone earns and thanks to this they develop very quickly.

Only intermediaries, distributors, who made money out of thin air and owners of online stores, who did not have time to switch and continue to resell someone's product, and not produce their own under their own brand, will suffer from this process only.

Soon, all large online stores that now have huge traffic and a lot of sales, but will not switch to the marketplace format, will regret it in the near future. They will realize that it is too late, and Alibabba, Amazon and Wildberries with Ozon have completely taken over the market.

Hurry up to join the right marketplaces in time - increase sales, attract new customers and make your product a hit.

Use the possibilities of marketplaces - earn and invest wisely!

Useful video about the Gem4me + MarketSpace project:

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