What is an online Trading Platform [ Marketplace ]

 What is an online Trading Platform [ Marketplace ] 

What is an online Trading Platform [ Marketplace ]

What exactly is an online trading platform (marketplace) and how does it differ from a regular online shop?

The biggest difference between these two types of e-commerce is that on the trading platform you have the opportunity to sell your goods and services to many people, while in a regular online store, the seller of goods is the company that owns the store.

The owner of the trading platform acts as an intermediary between the buyer and the seller and receives a commission payment for this (usually 10-20% of the purchase amount).

Online trading platforms, or marketplaces, are a hot niche. The success achieved by the giants of this industry such as Airbnb, Etsy and Fiverr have proven that this type of trading platform business is very effective and there are ample opportunities to develop it from a local scale to a global one, and it can be applied to almost any niche.

The coming years will see various innovations in the online market industry. Now is the right time to start your own online marketplace business, as there are already many good examples to follow and ready-made technical solutions available.

In this industry, as in all others, there are no shortcuts to building a successful business. To do this you will need a clear plan of action and the best way to learn it is to learn from others. In addition, you will definitely have to invest a lot of time and work to develop your trading platform.

This business is relatively easy to start, as ready-made technical solutions are available, which can be adapted to a design relevant to your industry. The most difficult thing is to develop this business – to find people who will sell things on your internet platform and people who will be ready to buy these products.

Here are some trading platform ideas:

  • For unnecessary things;
  • Home-made products;
  • For electronics;
  • For clothes;
  • For books;
  • For cosmetics;
  • For specific hobby items;
  • Construction tools;
  • Apartments for rent;
  • Cars for rent.

Many of the mentioned ideas certainly seem unoriginal to you and you already know a trading platform that already offers such services. But maybe each of these ideas is applicable, for example, only to Riga or Jelgava or Ventspils? If one of these ideas would work well in a smaller area, then you would definitely have the opportunity to develop it further and implement it in other cities or even countries. And in the end, maybe you will have created a global company!

To learn more about the e-commerce platform, visit the Sharetribe.com website by clicking on the image below.