MarketPlace - What is it and how does It Work?
The MarketPlace is a company-run platform where multiple merchants sign up and sell their products. This platform works so that the user joins certain online store site such as this, and buys into more than one store/merchant, paying all items together from various merchants. This platform can be seen as several showcases of a shopping center.
The customer enters the site and begins to search for the product they would like to buy, during the search may appear to the customer several merchants who sell the same product and similar items, urging the customer to enter many stores without leaving the same site, that way, the user ends up buying more than one item, being from different companies or not. They are generally focused on specific niches and market segments, but business models can vary widely: commissioning on sales, pay-per-click, or even a fixed amount per ad or monthly fee.
How does it work?
Our marketplace works on the B2C(Business to Consumer). It's direct selling to the end customer. It is usually a sale operated by a platform administrator, but which, as we talked about at the beginning of the text, can also be operated by a distributor or manufacturer, without including an intermediary in the purchase process.
A great advantage that the marketplace brings to participants is visibility, so it can encourage consumers of another company, with its virtual showcase, to buy in your store.
Imagine that you are a consumer and are used to buying in a certain store. When you enter a marketplace, which the store you like is a participant, you realize that another company sells a product you need at a good price, in your mind if that company is linked to the one that has your trust, then its product is good, so it's a reliable company and you risk buying it.
Customers, when they enter a marketplace platform, are able to buy multiple different products together, that is, they don't need to visit multiple sites and take the time they would take in this search.
How to start selling on MarketPlace?
Create Professional Account
Our marketplace platform provides a registration form and must select the group Professional Account, so the seller can fill in their data and then be analyzed by the marketplace administrator. Among the necessary information, it is usually data such as CNPJ and bank account. Once approved by the marketplace, the seller can continue his registration, then start selling within the platform.
To upload your products to marketplace platforms, the seller must provide information such as: photo, description, title, and price. With all this data, the marketplace would make a page with a product ad, which can be found by consumers through search within the platform.
One of the major concerns of marketplaces is to maintain quality control, so that the experience of users who buy on your site is equally good with "outsourced" sellers. To maintain this standard, marketplaces establish reputation rules that benefit the best sellers and punish those who have less responsibility. Factors that impact a seller's reputation include: time to ship a product, buyer rating, sales cancellation, complaints, etc.