The rise in digital, and the success of online shopping giants Amazon and Alibaba, is pushing some traditional brick and mortar retailers such as Fnac, Best Buy, and Carrefour to launch online marketplaces: “A type of ecommerce site where product or service information is provided by multiple third parties, whereas transactions are processed by the marketplace operator."1Read More
When opening the internet for commercial use in 1995, the idea was that technology could help consumers and producers make markets more efficient. Soon after, the idea of replicating the flea-market garage sale concept and other traditional markets in the online world grew in the minds of entrepreneurs.
The first successful attempt to create an online marketplace on a large scale was eBay.com, which was mainly focused on peer to peer transactions, allowing anyone to become a seller and consumers to access a broad assortment of products.