1.A marketplace allows the business or platform operators to charge a cut on the products that the vendors sell therefore exponentially increasing the profit opportunities.
2.E-marketplaces provide a transparent purchasing process as factors such as the prices of the product and availability of the stock are all accessible on a single platform in an open environment.
3.Better opportunities for suppliers and buyers to establish new trading relationship either within or across their supply chain.
4.Time constraints for trading across geographies is eliminated because of the online platform which operates round the clock.
Benefits for Buyers
1.The buyers get a wide variety of options on products to compare on a single website. Thus helping them find the most reasonable price for the best quality product.
2.Real time updated information on the price and availability makes it easier for the buyers to get the best deal.
3.The buyers can find trusted established vendors and build a trading partnership by dealing exclusively with them.
Benefits for Sellers
1.Smaller stores or vendors who are not sure about establishing their own eCommerce website or want to reduce their marketing costs can align themselves with these larger businesses and gain visibility through their fulfillment options.
2.Regular exchange of quotes between the new and the old vendors is possible, thereby streamlining and maintaining- standardization.
3.The platform acts as an additional sales channel to market and sell their products.
4.Enables oversea sales by providing opportunities to trade in the international e-marketplace.
Comment Below :
Viewers are always welcomed to comment below. We will respond to you as soon as possible.