Estimates vary widely but marketplace platforms, including the giants operated by Alibaba, Amazon, eBay and others, account for 58% of global web sales. That’s why so many businesses, from home-based startups to large traditional retailers such as Best Buy, WalMart, and Indigo are launching their own marketplaces. These big traditional retailers have launched their own marketplaces by allowing outside merchants to sell directly on their...
Read MoreAccording to wikipedia the very first ecommerce activity was about 50 years ago — interestingly a cannabis sale between academic departments of two prominent universities in the US — greater the human need — greater is the innovation! Today, three months past Covid 19, our lifestyle has changed forever. I’ve personally replaced the last bit of random Walmart brick and mortar run with Amazon — an...
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When a marketplace owner plans to launch his own marketplace, there are a lot of factors that should be considered. On a high level, a successful marketplace is measured by its brand value, customer retention. Consider Airbnb, It is a perfect example of a successful peer to peer marketplace but with the onset of COVID-19 Airbnb has suffered a major setback and it's hard to...
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The video game sector is immensely large. In fact, it is larger than the movie and music industry combined, and it is only growing. Though it doesn't get the same attention that the movie and music industry does, there are over two billion gamers across the world. That is 26% of the world's population. Gone are the days when gaming was limited to Nintendo and...
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How do you measure the success of any online business? Is it by the number of users registered in your platform or amount of money you invested ? Nope, it is purely based on your generated revenue. And it is no different in the case of online marketplace platforms. To generate revenue, one of the most important decisions you need to make is to identify...
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We are living in an era where we can contact any person on earth from our smartphone. We can find a designer in any part of the world and get them to do work or hire anyone in our city to do any household chores just on the tip of our fingers. Access to such a variety of services Is thrilling and provides tremendous opportunities...
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According to iBe, Worldwide B2B marketplace sales could reach an estimated $3.6 trillion by 2024, up from an estimated $680 billion in 2018. In comparison, B2C marketplace sales across the globe will reach a projected $3.5 trillion annually in five years from an estimated $1.1 trillion in 2018. Peer-to-peer marketplaces will generate $240.8 billion in global sales by 2024, up from $47.8 billion in 2018. “Presently,...
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A Service Marketplace is an online platform that supports initiating, facilitating, coordinating, and completing the buying and selling of services between clients and service providers such as Uber, Lyft, Upwork, Thumbtack, TaskRabbit, and Fiverr. For a Service Marketplace Entrepreneur, it is extremely important to continuously monitor and scale the marketplace platform according to changing trends. After going through the process of creating a marketplace, now it's...
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Opportunities for work in Canada's online gig economy are growing faster than in many other countries According to Otto Kässi, the global market of online freelance work has grown by 30 percent over the past two years. And those types of digital opportunities have grown even more in Canada. Here are Canada's top five Freelance marketplaces: 1.Rev.com Rev.com is a service provider that relies on a network of freelancers...
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The ongoing COVID-19 pandemic has turned the world upside down. More than half the world is currently on some form of lockdown. That means people are stuck at home, and suddenly have a whole lot of time on their hands. Many people are seeing this time as a golden opportunity to start a new project, like an online business. And it’s totally normal to have a...
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