With the growing technology, people are tending to move towards the easiest way of buying and selling products and that is done on a single platform with the help of E-marketplaces. The thing that makes difference in categorizing these markets is the type of product or service that is offered to the users.
You all will be very eager to know more about what actually are online marketplaces, so let’s start the explanation with the help of examples of each-
Product online e-marketplaces-
This platform only allows the selling and buying of products. In this type, all the sellers come together at a single platform and allow consumers to choose the suitable way of spending their money. It is beneficial for the consumers because they can get varieties of offers and discounts from several sellers. He then buys the product from the seller who fits his categories of desires.
Examples of this category are Amazon, Flipkart, etc.
Online service marketplace-
This platform brings service seekers and service providers together. It is a very good initiative because it helps to reduce unemployment in the country. If you are looking for employees in your startup business then it is the best platform for you.
Online rental marketplace-
You all have definitely booked a cab when you wanted to visit a place. Do you have any idea how this works? Well, this renting of cars comes under this platform. You can even book or take a rented car to your destination. This platform is not only restricted to transportation but also brings fashion, electronic devices, and many more options for its users.
The hybrid model in E-commerce-
This type is a mixture of two categories-
There is a direct link between the customers i.e. the products are directly bought or sold between the two customers. There is no involvement of the third party. Example- OLX
The consumer gets the benefits of both online and offline systems. For instance, a person purchased an online ticket from Bookmyshow and went to the nearby theatre to watch it later.
HyperLocal marketplace-
In this marketplace model, the goal is to deliver conveniences and facilities within the straight possible time from local sellers. If you have an emergency need and want to deliver your product within 24 hours then it is the best platform for you. For eg. Urbanclap, Bigbasket, etc.
So if you are about to start your journey of entrepreneurship, we wish you a stroke of good luck!