Online marketplaces have literally changed the definition of running online retail businesses. Those days are gone when running online businesses required huge investments, but with the advancement of online marketplaces, things are changing drastically. Nowadays, if you want to sell online, building e-commerce site or investing heavily are not important. Based on a 2017 report, more than 300,000 third party sellers are choosing Amazon for the process. On other hand, 31% first time shoppers prefer buying from the online marketplaces. Online service marketplaces have created a win-win situation for everyone. As the operators of those sites are commissioned heavily from the vendors or they can also charge subscription selling fee. Even customers are also able to compare and buy products at an affordable price while sellers are able to sell products without setting up a site or spending managing expenditure. Not only multivendor marketplaces, such as Ama...
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