How do online marketplaces work?

Online marketplaces are platforms that connect buyers and sellers from all over the world. These platforms facilitate transactions between these parties, making it easy for sellers to showcase and sell their products while giving buyers access to a wide range of products. Online marketplaces typically charge fees on transactions, and in return, they offer a range of benefits to sellers, including access to a large customer base, payment processing services, and fraud protection. Buyers, on the other hand, benefit from easy access to a vast variety of products, competitive pricing, and convenient delivery options. Online marketplaces are changing the way people buy and sell goods, and this trend is likely to continue in the years to come.

This mind map was published on 18 April 2023 and has been viewed 59 times.