What Is A Digital Marketplace And How Does It Work? |
Posted: April 22, 2022 |
There was a time when people used to visit physical marketplaces to buy products. But with technological upshots all over the world, consumer behavior has changed a lot since they have had the option to buy things online. Digital marketplaces have been around for over a decade now, and many of them are using the Salesforce Commerce cloud marketplace connector. However, if you have heard the term for the first time, Then, this article will speak about what a digital marketplace is and how it actually works. Initially, when the big guns of the industry, such as Amazon, started, people weren’t convinced by the business model. As these marketplaces run over the internet. And with the internet technology being very new, it was not accessible by many around the world. Coming to the present day, people mostly prefer digital marketplaces any day. What is a Digital Marketplace?A digital marketplace is an online place connecting buyers and sellers from a particular region or around the world. The marketplace could be in the form of a website or a mobile application. It is not a physical place, but an online space that functions over the internet. The sellers are not the owners of the marketplace; they are the members of the marketplace who wish to list their goods and products online to earn some profit. The marketplace belongs to the marketplace owner. Like, we have Jeff Bezos, who is the owner of the Amazon marketplace. On the other hand, it might seem that starting a digital marketplace is as easy as apple pie. However, it is not what it seems. It requires a lot of patience, effort, technology, and teamwork to start an online marketplace. Leave the rest of the things. If you don’t have the right tech, you won’t be able to go a long way with the marketplace business. The most popular sort of tech for new marketplaces is the Salesforce Commerce cloud marketplace connector. When you have the right technology, everything else falls into place with time. How Does The Marketplace Work?The best part about online marketplaces is that they don’t have to maintain any kind of inventory, images, product listings, descriptions, or other vital things necessary to sell a product online. It is the sole responsibility of the sellers to take care of all such things. After sellers list their products on the marketplace, the listing goes live. The buyers search for the products they are looking for. And if the listing, description, images, and reviews of a particular product are positive, the transaction takes place. Most marketplaces make use of state-of-the-art technology to streamline all their procedures, from customer acquisition to delightment. If you are just starting, it is always recommended to go with the SFCC marketplace connector to get your process arranged efficiently.
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