Marketplace software solutions have been made to manage the e-commerce platform necessities of both, the marketplace proprietoras well as the users. Marketplace software are usually open-source and have the potential of offering personalization with no boundaries. Anall-inclusivee-commerce marketplace software package generally offers atotally integrated functionality that spreads across the whole range of the transaction—right from browsing through delivery, while also comprising inventory management, monetary reporting, and analytics.

Types of E-Marketplaces


Product Online Marketplace



This kind of market place is typically also referred to as an e-commerce marketplace, where people can buy and sell products. This platform collaborates all kinds of sellers into a one-stop-shop that also proves to be helpful for customers who want to explore various brands on a single platform. Also, with features like auction and fixed price sale, the seller can list a particular product and set a deadline; and the buyer with the best bid gets the item. Typically, this type of marketplace is owned by an individual who allows third-party sellers to sell products together with the marketplace owner's usual offerings—examples include Amazon, Alibaba, and eBay. In this setup, the vendor business model plays a critical role that defines the profit for marketplace proprietors. Therefore, it is better to choose the correct multi-vendor marketplace platform that offers a flexible model and suits all user requirements.



Online Service Marketplace



The online marketplace is notonly limited to simply selling products. Users can even sell services if theyoperate in the service industry. In the case of a startup business that wants to use a marketplace with negligibleeffort, it is always better for the company to providediverse services that people search for.In a services marketplace, the finding of services becomes the foundation of its offering to customers, and chances for paid work form the foundation of its offering to freelancers. In order to successfully run a service business, the owners should be able to offer a robust anddependable online service marketplace that helps in connecting service searchers with service providers. This platform acts like a bridge that connects both the parties and allows marketplace owners to earn a commission on every successful transaction.

Online Rental Marketplace



When it comes to doing business in an online rental marketplace, the transport and fashion companies are prevalent among thes take holders and ambitious businesspersons. But for the last couple of years, the online rental marketplace is picking up pace and is being increasingly used by businesses that offer home appliances, electronic accessories, and gears. Mobile applications such asUber and Ola are great examples of this model. It is because of brands like these that there has been tremendous growth in peer-to-peer marketplaces that are leasing through online mediums. As ambitious businesspersons, individuals can even focus on niche online rental marketplaces like holiday rentals, car and bike rentals, and equipment rentals by making use of a rental e-commerce platform.



Hybrid Model in E-commerce



There are two categories of hybrid online marketplaces:one, where people want to sell and buy both, services and products through the same platform;and the other, where people want to get the joint benefits of purchasing from online as well asoffline stores. In the latter, the buyerinitially books the products online, after which he/she reaches down to the selectedphysical store in order to purchase those products. Presently, ticket reservation websites such asBookMyShow operate based on this model.Large retailers like Reliance Trends and Myntra have also ventured into the e-commerce sectorby using a hybrid online-offline model. This model creates mutual effectiveness by assimilating offline stores through the online platform.



Hyperlocal Marketplace



The idea of hyperlocal came into reality when people began looking for close-by options whenlooking for shops, eateries, and other similar locations via search engines. In this marketplace model, the intention of the platform provider is to offeramenities and services in the shortest possible time from native vendors.The hyperlocal e-commerce marketplace is prettycomparable to marketplaces such as Amazon; however,the key difference is that the consumers will be able to purchase products from sellers who can guarantee delivery inside of 24 hours. Examples of this type of marketplace model include Urbanclapand Bigbasket.Similarly, food delivery marketplaces like Zomato and Swiggy can be classified under this group with little bit nips in their workflow.

know more @ https://www.360quadrants.com/software/marketplace-software



About 360Quadrants

360Quadrants is the largest marketplace looking to disrupt USD 3.7 trillion of technology spend and is the only rating platform for vendors in the technology space. The platform provides users access to unbiased information that helps them make qualified business decisions. The platform facilitates deeper insights using direct engagement with 650+ industry experts and analysts and allows buyers to discuss their requirements with 7,500 vendors. Companies get to win ideal new customers, customize their quadrants, decide key parameters, and position themselves strategically in niche spaces, to be consumed by giants and startups alike. Experts get to grow their brand and increase their thought leadership. The platform targets the building of a social network that links industry experts with companies worldwide.



360Quadrants will also be launching quadrants in fields like Reporting Software, Integration Software, and Virtualization Software.

Contact:

Mr. Agney Sugla

630 Dundee Road, Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441