The online marketplace format has risen to popularity because it offers a variety of benefits to sellers and shoppers alike. Firstly, online marketplaces allow sellers to reach a large potential customer base without having to spend lots of money to set up their own online sales infrastructure. They do have to pay a fee for selling on the online marketplace, but that’s more than offset by increased sales.
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Secondly, it’s a lot easier to sell via an online marketplace. After a simple application and verification process, sellers can sell their goods and services via the existing platform infrastructure. Listing products and changing pricing is all managed by an easy-to-use seller account/backend software.
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