How Online Marketplaces Are Changing the Face of Entrepreneurship
August 28, 2018
In today’s world, where ecommerce giants like Amazon, Jet.com and Shopify boast huge third-party marketplaces online, just about anyone can become an entrepreneur. For sellers, starting up on an online marketplace is easy: There’s no storefront, no need to buy tons of inventory right away and they reap the benefits of an already established online infrastructure. The consumer demand for these marketplaces is also skyrocketing. Nearly all (97 percent) of “avid” online shoppers — customers who made at least seven online purchases in a three-month period — purchased from ecommerce marketplaces in the past year, up from 85 percent in 2016, making digital marketplaces one of the best places emerging retailers can start growing their businesses.