Why Interaction Is Important For Creating a Scalable Marketplace

Why Interaction Is Important For Creating a Scalable Marketplace

Shared economy is really a boon for the business and it has provided us with the successful business economies like Airbnb and Uber. It leads to the rise of the new business model mainly that of platforms. These platforms are more community-centric and provide a potential for faster growth and development.

The platform-based model of the business differs from the traditional models and the major differences are as follows-

  1. The traditional model of the business had multiple user roles but the platforms have only two major user roles i.e. the Customers and the Producers. Using the advantages of the platforms, we can create a successful interactive and responsive marketplace. Some tips that can help you create the marketplace are under-mentioned:
  2. Removal of the Barriers to Production and Consumption- The platform basically eliminates the need for a gatekeeper, thus, allowing the potential business to cater their services or products to the potential customers. Platforms like YouTube disrupt the traditional interaction between various businesses as they let the producers address the market of the consumers directly. Similarly, eBay, which is a Peer To Peer marketplace website, offers everyone an equal chance of being an entrepreneur as they let them sell their products on the website.
  3. Rich User and Producer Experience– The traditional businesses did not allow the easy optimization of the resources or labor force and it struggled to keep the balance between the supply and demand. It also required huge investments from the entrepreneur’s end. But sharing economy or peer-to-peer platform does not require the need for investments as far as the infrastructure and the physical assets are concerned and allows easy optimization of the other resources, hence, proving to be more beneficial. It also leads to a more valuable relationship between the user and consumer, thus, enhancing their experience.
  4. Easy Payments within the Platform- To create a successful marketplace, it is necessary that the payment process between the users and the consumers must happen within the platform. If the user undergoes any sort of troubles in making the payment, they might not return to your marketplace. Therefore, it is essential to take a professional help from the company that can help you by providing top-notch peer to peer marketplace template.

IdyaFlow offers the sharing economy template to all those who aspire to develop a peer to peer marketplace of their own. We offer solutions for all your technical difficulties and provide you with the simple, secure and responsive template, website or software, thus, helping you build a sharing community. The community so built facilitates the better utilization of the resources and assets and IdyaFlow makes sure to help you out with it.

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