Marketplace as a business model has enormous potential. You've probably already seen this forecast: by 2022, 67% of all online purchases in the world will be made through marketplaces. In such a situation, creating a marketplace seems like a profitable investment. However, we at Scallium
never tire of repeating it's not that simple. The marketplace gives impetus to an already existing successful project. It increases the number of new customers, removes the traffic ceiling, and, in principle, scales Internet marketing processes. Building a marketplace from scratch is significantly more difficult. But it is possible.
Regardless of the marketplace business model, it has 4 components: analytical, technical, operational, and marketing. If there is a gap in one of the parts, everyone else will suffer. No one marketing budget won't make the project popular if the IT solution does not allow the platform to work speedily and be user-friendly. Vice versa, no matter how functional the system is, people should know about it, and they should choose this marketplace among a dozen well-known and established e-commerce players.