What is Marketplace?

BizGuru.me – Recently, the Indonesian market industry is indeed very developed. They help Indonesians shop with one click at home. But, what exactly is a marketplace?

Marketplace is a website or online application facilitating the purchase and sales process from various stores. The concept itself is actually more or less the same as a traditional market.

Basically, market owners are not responsible for goods sold because their job is to provide a place for sellers who want to sell and help them meet customers and make transactions more simply and easily.

The transaction itself is regulated by the market. Then, after receiving the payment, the seller will send the goods to the buyer. One of the reasons the market is famous is due to its facility and convenience of use. Many describe it as a department store.

The first time the market became popular in 1995. That year, Amazon and Ebay became famous and many people used them. The same year, a bank in America named the presidential bank launched its first online bank.

In 1998, PayPal was launched and made even more convenient for online transactions. In Asia alone, Jack Ma launched Alibaba to China in China in 1999.

Two decades have passed and the market industry continues to grow. Now you can find several guilty for different categories; ranging from clothes to craft materials.

In Indonesia, we already have several well-known local investments such as Tokopedie and Bukalapak. Both were very successful in Indonesia until they become 2 unicorn startups in Indonesia.

Horizontal and vertical market

In addition to discussion, you may encounter terms such as the horizontal and vertical market. What does it mean?

Horizontal markets sell a variety of products in different categories. Tokopedia and Bukalapak are included in this one. On both websites, you can find many items, books, furniture, food, clothes, toys, gadgets and much more.

As a general rule, the horizontal market is presented as a single shop and raises convenience as a point of sale.

Compared to the horizontal type, the vertical market is more specialized in nature. A classified market as a vertical type is a website that sells products of the same type.

For example, a market that sells only needs or baby shoes. If you choose to sell on a vertical market, you can better present your products.

Indeed, in the vertical market, website visitors definitely look for the article they want and you can focus more on what makes your product greater than other sellers.

The largest market in the world

Here are some of the biggest markets in the world.

Amazon

Who did not hear about Amazon? Jeff Bezos, a founder of Amazon himself is the richest entrepreneur in the world today.

Founded in 1995, Amazon sells a wide variety of articles on its website; Going from food, children’s toys, books, electronic devices and more. While at the beginning, they did only books.

Amazon continues to grow and already operates in 11 countries in North America, Europe and Asia. Not only that, Amazon has also ventured into another world. Amazon produces a variety of multimedia products and content.

Maybe you heard about Kindle or Alexa? They also come from Amazon, you know! In addition, Amazon himself has developed their accommodation service called AWS.

eBay

Ebay is one of the first markets in the world. To date, there are 167 million active users in 190 world markets. What stands out eBay apart from its competitors is that you can also sell on this site.

Also Read: Emotional Marketing Strategies for Business Success

Ali Baba

The name of Jack MA has been spoken of many lately. Jack Ma is the founder of China’s largest market called Alibaba. Alibaba has hundreds of millions of customers and you can find millions of sellers here. Alibaba has 80% of the online market.

Not only that, Alibaba is also called the largest global market with transactions exceeding the combined number of transactions between Amazon and Ebay.

The largest market in Indonesia

It can also be said that the market industry will be one of Indonesia’s great industries. You surely know that in recent years we have been able to buy online more easily online. Here are the main markets of Indonesia you have heard the names.

Tokopedia

Tokopedia is the largest online market in Indonesia. For those of you who are interested in opening their own store, you can do it easily on Tokopedie. To date, Tokopedia has received funding to GE Series. In November 2018, they received funding from the Vision SoftBank Fund.

Bukalapak

You must also know the name of Bukalapak. As one of the main online markets in Indonesia, Bukalapak also provides a place for those of you who want to start selling. Bukalapak gives priority to the ease and reliability of its platform so that users can get the best user experience.

Blibli

Blibli is an online shopping center with a wide range of computers and gadgets, fashion, health and beauty, mother and child, home and decoration, automotive. Blibli also provides various special promotions, tickets and tickets for visitors and guests.

JD.ID

JD.ID is a large online store that has a wide variety of items. You can find various categories of products such as fashion, electronics and gadgets. JD.ID was launched in November 2015 and is China’s JD.com e-commerce.

Shopee

Shopee is one of the most important players in Indonesia, particularly in a country “first mobile”. Shopee is a diversified and direct online market that also offers an occasional web shopping experience. This online shopping platform is available in Southeast Asia, Shoppee is also available in Singapore, Philippines, Malaysia, Thailand, Vietnam and Taiwan.

Eleven

Eleven has more than 30,000 sellers and more than 4 million products of various categories, such as households, family, health, beauty and fashion, computers and gadgets, sports goods, collectibles , food and drinks. Apart from this, Onzineia also provides promotions and electronic coupons.

Conclusion

In this article, we discussed what a market is. With a market, it will be easier for those of you who want to make money via the internet.