The marketplace is a platform for those sellers who want to sell their products online. This place is by far the best and the secure way to do the online transactions. The marketplace will make things easier for the selected suppliers who sell their goods and services online. The supplier itself is usually delivering this.
According to the FDI policy guideline, “Marketplace model of e-commerce means providing an information technology platform by an e-commerce entity on a digital and electronic network to act as a facilitator between buyer and seller.”
The marketplace is the massive platform for both the buyers and the sellers to discover their prices so that they can make their transactions more efficiently and off-course this is the trusted and transparent.
They include the leading firms: Flipkart, Snapdeal, Amazon and much more. These companies provide the best products and services.
Customers get the chance to interact with some sellers. If suppose an individual is purchasing any product from Amazon, he will be buying that product from the registered dealer. Amazon is not directly selling that product.
Amazon is just a website platform where a consumer can buy their product quickly, by getting all the information online. The marketplace will be the easiest and the best way for customers to shop. E-commerce firm is not supposed to do inventory, stock, management, logistics, etc. actively.
Facebook, the social website, is going to launch marketplace very soon a feature where people can buy and sell items within their local community. Therefore, It is still working in progress. We expect to see a fully functional marketplace model very soon.
Previously we had these in India via Olx and Quikr, and they have had a significant impact on the way we sell goods and buy them.
Facebook says . that they are not going to launch marketplace “global.” They are planning to start this from the small steps in this area. Moreover, Facebook will be introducing payments which are currently available in messenger thus making it more user-friendly and reliable.
As we know, Olx and Quikr have a significant share in the Indian market with their schemes. So, it is noticeable on a far-reaching note that, how Facebook plays with the dice. Furthermore, it will be an exciting competition between the global giant and two Indian giants.
There is always some problems relating to the marketplace model. Even in India, we have cases of weak law enforcement and surveillance in the transaction.
Another criticism is that the rules and regulations surrounding online marketplaces are quite underdeveloped. There is an issue rising between the responsibility, accountability, and liability of the market and third parties. Therefore, we have seen a couple of years that much criticism in recent years for their lack of consumer protections. As Facebook is being used globally, so, it is expected from this app that they might come up with stringent laws and surveillance programs for the protection of their consumers.
We are hoping best for Facebook that they will succeed in the marketplace.