One stop Shop
An online marketplace is defined as a website or app that facilitates shopping from many different sources. Ebay is the ultimate example of an online marketplace, selling everything to everybody, while Amazon sells their own products as well. The online marketplaces are important facilitators of continued growth in the online economy and they are expected to facilitate almost 40% of the global ecommerce by 2020.
Hagberg explains the success of the online marketplaces and attraction they have on consumers: Customers want one-stop-shopping. We have seen Amazon grow huge in Germany, France and the UK and our German subdivision is moving in the same direction. Online consumers want simplicity and convenience and they feel safer shopping online in one place. And my goal is to offer shoppers just that!