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NewsTuesday January 19th, 2021

What is a Marketplace?

The word ‘marketplace’ feels familiar to our ears right now. However, even when we often hear it, do you really understand what is a marketplace? What is a marketplace and what are they? To answer this question, we have written a special review about the marketplace.


What is a Marketplace? 

Marketplace defined as a platform that facilitates buying and selling activities as the traditional market does. However, the marketplace today is different from the traditional market, buying and selling in the marketplace carried out online. The marketplace can be a website or an online app.

Just like when we buy or sell products in a market, the product or items sold in the marketplace is the responsibility of the seller and has no relation with the marketplace owner. A marketplace is a place provided for selling and buying products.

However, the marketplace has much more benefits than the traditional market. Marketplace accepts an online payment that often considered more practical, faster, and easy. With an easy online payment system, customers will feel more comfortable shopping online.


Marketplace in Indonesia

Can you mention the marketplace that is available in Indonesia? Talking about the Indonesian marketplace, we cannot miss the unicorn startup marketplace that phenomenal in the homeland, Tokopedia, and Bukalapak.

Tokopedia and Bukalapak is a platform that supports online selling and buying activities. Both are providing many types of products, and therefore they categorized as a horizontal marketplace.

Meanwhile, a marketplace that sells specific items categorized as a vertical marketplace. Can you mention a vertical marketplace in Indonesia? Well, some of the vertical marketplace in Indonesia, for example, Sociolla (make-up and beauty products), HijUp (hijab fashion), Du Anyam (handcraft), and many more.  

Now, are you aware know of this basic knowledge about the marketplace? Hopefully, this information is useful and motivates you to try a bit of luck in the marketplace business. 



Image by StockSnap from Pixabay


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