Online marketplace for products
This type of marketplace we typically call an eCommerce marketplace, where people sell and buy the products. This platform acts as a one-stop shop for buyers and sellers. Shoppers can not only look out for the prices but also the best deals under one roof. Also, there is a feature like an auction or fixed price sale, where sellers list a price or set the deadline: the buyer with the highest bid item gets the item.
This type of marketplace is owned by the one who enables the third-party vendors to sell products along with the regular offerings of the marketplace. Examples Amazon, eBay, etc.
Online Marketplace for Service
Online business is not only limited to selling products, you can even cater to the service industry. If you are a startup looking to launch the marketplace, then it is good to offer different services that people search for. The discovery of the service is the basis in this kinda market. Such marketplaces offer the opportunity for paid work to freelancers. Platforms like Fiverr, and Upwork, are examples of marketplaces.
All you need to do is to offer a robust and reliable platform to connect the service providers and service seekers. Such platforms act as a bridge between both parties and charge a commission on every successful transaction.
Online Marketplace for Rental
In the rental marketplace, the transportation and fashion industry are popular among investors and entrepreneurs. However, with time this market has been extended to home appliances, electronic accessories, gears, and much more.
Uber and Ola is the perfect example of this marketplace. These are giving huge rise to peer-to-peer marketplaces that are renting through online ways. With the demand, competition has also risen. So being an intelligent entrepreneur, you should focus on niche-based rental services. Such as vacation rental, car rental, and equipment rental.
Hybrid Model in Ecommerce
Hybrid marketplaces are of two types. The first category is where people expect to buy and sell both services and products on the same platform. A marketplace like OLX fits into this category. Another category is where people want the combined benefits of online and offline stores. In this model, shoppers buy the goods first and then walk down to the store to get those products. Ticket booking websites like BookMyShow are the best example of it.
Big retailers like Reliance Trends and Myntra foray are adopting this model – a hybrid online-offline model. This model creates shared profitability by integrating offline stores with an online platform. You can launch hybrid marketplaces to bring the local merchants to sell their products through the website.
Hyperlocal Marketplace
This marketplace came into the picture when people started to look for nearby options while searching for shops, restaurants, etc. The main aim is to provide facilities and services within the shortest time limit.
It is quite similar to a marketplace like Amazon. The major difference is that the customers will be only able to buy products from the vendor, ensuring the delivery within 24 hours. Urbanclap, Bigbasket is one of the best examples of it. The food delivery marketplace also comes under this category.
