Marketplace is an electronic trading platform. In fact, it is a site-market where the buyer and the seller meet, get acquainted, communicate and conclude transactions. Not to be confused with price aggregators. The differences here are that price aggregators only show prices from different commercial sites.

Why people need marketplace

In the classic version, the marketplace as an intermediary, which provides the safety and integrity of trade transactions, delivers buyers with a wide choice. The main value of the marketplace as an intermediary is an easy way of comfortable provision of trading for customers on both sides of the transaction. If you provide your customers with interaction faster and more convenient than your competitors, the marketplace project will grow.

How to create your own Online Classified Marketplace

Creating a marketplace can be a profitable initiative for business. There are firms offering the Classified Marketplace service. Questions to be faced at the initial stage: how to choose a niche, determine the need for the service, develop and launch a marketplace. The answers to them will be given by the leading experts of the sphere such as PROST INC.

What is the role of the owner

The owner of the marketplace is responsible for the design of the site, for the promotion, for the functionality of the site - payment options, delivery, opportunities and options for incentives for customers.

But, usually, it does not deal with content and other private internal trading processes. Instead, it comes up with easy navigation, filtering and sorting of products on its site. Implements a rating system of sellers and takes care of honest reviews on its site. That is, the focus on trust and ease of use gives an advantage over competitors.

There are many ready-made platforms for creating websites that help in a matter of hours to create both a marketplace and an online store. They have big differences in price and functionality.