Integration marketplaces

Integration marketplaces

Marketplaces are large trading platforms on the Internet. Essentially, they are online storefronts where different sellers display their products. Marketplaces are just intermediaries that connect buyers and sellers, providing a place for placing commodity items.

At some sites, opportunities are implemented for communicating with customers directly in the system interface, and they also help organize delivery.

Due to the fact that these trading platforms attract a large number of buyers, they are the best place for online commerce, this is the conclusion of a business to a multimillion audience.

Therefore, often, despite the fact that a company has its own online store, they continue to work with marketplaces and automatically upload products to them, integrating the work of systems via API, because additional traffic and orders will not harm anyone.

Marketplaces have no restrictions on the number of products posted, so their catalog is constantly growing, thereby attracting more buyers, for whom new sellers come, according to the principle of a snowball.

Varieties of marketplaces
Marketplaces can be universal and specialized. The first sells various goods, the second sells a certain type. They are also distinguished by the types of sellers. Some work with goods from manufacturers and intermediaries who are located only within the country, while others can place their goods on companies from other countries. A marketplace can be created initially on the basis of a large online store. And then over time it combines its assortment with goods from other sellers. Or they can be a standalone marketplace like AliExpress.

What are the functions of marketplaces?
Online trading platforms most often choose their own model of work and sets of certain services that sellers and buyers will use. But, as a rule, marketplaces implement the following functionality.

Attract buyers. Various promotions, sales are organized through search engines, social networks, and loyalty programs are developed.

Make deals and accept payment. The marketplace accepts money from buyers and transfers it to the seller. For the convenience of buyers, the marketplace offers various payment options.

Goods delivery. Marketplaces that work only with internal sellers often take over the delivery function. Thanks to this, the transaction is controlled from the moment of purchase until the receipt of the goods by the buyer.

They act as a guarantor and provide support. Trading platforms act as a guarantor that the buyer will receive his goods, and in case of disputable situations, they themselves deal with the seller. Performing a support function, marketplaces answer customers' questions, if the product is of inadequate quality, they make returns.

Warehouse services. Some sites have their own warehouses and can provide storage and order picking services.

Content. Some trading platforms have photo studios and can beautifully take pictures of the seller's goods.

Marketplaces today are a rapidly growing business in the eCommerce segment. Due to the growing popularity in the e-commerce market, in the near future they are able to take its main share.

Automation of business processes using API integrations allows marketplaces to use this effective tool with little or no additional time and cost.