Marketplace

A marketplace or market place is a location where people regularly gather for the purchase and sale of provisions, livestock, and other goods.[1] In different parts of the world, a marketplace may be described as a souk (from the Arabic), bazaar (from the Persian), a fixed mercado (Spanish), or itinerant tianguis (Mexico), or palengke (Philippines). Some markets operate daily and are said to be permanent markets while others are held once a week or on less frequent specified days such as festival days and are said to be periodic markets. The form that a market adopts depends on its locality's population, culture, ambient and geographic conditions. The term market covers many types of trading, as market squares, market halls and food halls, and their different varieties. Thus marketplaces can be both outdoors and indoors, and in the modern world, online marketplaces.

Markets have existed for as long as humans have engaged in trade. The earliest bazaars are believed to have originated in Persia, from where they spread to the rest of the Middle East and Europe. Documentary sources suggest that zoning policies confined trading to particular parts of cities from around 3000 BCE, creating the conditions necessary for the emergence of a bazaar. Middle Eastern bazaars were typically long strips with stalls on either side and a covered roof designed to protect traders and purchasers from the fierce sun. In Europe, informal, unregulated markets gradually made way for a system of formal, chartered markets from the 12th century.

Throughout the medieval period, increased regulation of marketplace practices, especially weights and measures, gave consumers confidence in the quality of market goods and the fairness of prices. Around the globe, markets have evolved in different ways depending on local ambient conditions, especially weather, tradition, and culture. In the Middle East, markets tend to be covered, to protect traders and shoppers from the sun. In milder climates, markets are often open air. In Asia, a system of morning markets trading in fresh produce and night markets trading in non-perishables is common.

Today, markets can also be accessed electronically or on the internet through e-commerce or matching platforms. In many countries, shopping at a local market is a standard feature of daily life. Given the market's role in ensuring food supply for a population, markets are often highly regulated by a central authority. In many places, designated market places have become listed sites of historic and architectural significance and represent part of a town's or nation's cultural assets. For these reasons, they are often popular tourist destinations.

Today, markets can also be accessed electronically or on the internet through e-commerce or matching platforms. In many countries, shopping at a local market is a standard feature of daily life. Given the market's role in ensuring food supply for a population, markets are often highly regulated by a central authority. In many places, designated market places have become listed sites of historic and architectural significance and represent part of a town's or nation's cultural assets. For these reasons, they are often popular tourist destinations.

Throughout the medieval period, increased regulation of marketplace practices, especially weights and measures, gave consumers confidence in the quality of market goods and the fairness of prices. Around the globe, markets have evolved in different ways depending on local ambient conditions, especially weather, tradition, and culture. In the Middle East, markets tend to be covered, to protect traders and shoppers from the sun. In milder climates, markets are often open air. In Asia, a system of morning markets trading in fresh produce and night markets trading in non-perishables is common.

Markets have existed for as long as humans have engaged in trade. The earliest bazaars are believed to have originated in Persia, from where they spread to the rest of the Middle East and Europe. Documentary sources suggest that zoning policies confined trading to particular parts of cities from around 3000 BCE, creating the conditions necessary for the emergence of a bazaar. Middle Eastern bazaars were typically long strips with stalls on either side and a covered roof designed to protect traders and purchasers from the fierce sun. In Europe, informal, unregulated markets gradually made way for a system of formal, chartered markets from the 12th century.

Marketplace refers to a platform or location where items, real or digital are traded. Purchase and sale of products are made through money or digital currency. Traditional marketplace were locations where people traded essential items, livestock, food, and clothing.

A marketplace or market place is a location where people regularly gather for the purchase and sale of provisions, livestock, and other goods.[1] In different parts of the world, a marketplace may be described as a souk (from the Arabic), bazaar (from the Persian), a fixed mercado (Spanish), or itinerant tianguis (Mexico), or palengke (Philippines). Some markets operate daily and are said to be permanent markets while others are held once a week or on less frequent specified days such as festival days and are said to be periodic markets. The form that a market adopts depends on its locality's population, culture, ambient and geographic conditions. The term market covers many types of trading, as market squares, market halls and food halls, and their different varieties. Thus marketplaces can be both outdoors and indoors, and in the modern world, online marketplaces.

With the rise of the Internet, modern technology and logistics, many marketplaces have shifted to a globally accessible platform. Amazon, eBay, Alibaba are some of the well-known web-based modern marketplaces.

Marketplace refers to a platform or location where items, real or digital are traded. Purchase and sale of products are made through money or digital currency. Traditional marketplace were locations where people traded essential items, livestock, food, and clothing.

Marketplace refers to a platform or location where items, real or digital are traded. Purchase and sale of products are made through money or digital currency. Traditional marketplace were locations where people traded essential items, livestock, food, and clothing.

Marketplace refers to a platform or location where items, real or digital are traded. Purchase and sale of products are made through money or digital currency. Traditional marketplace were locations where people traded essential items, livestock, food, and clothing. With the rise of the Internet, modern technology and logistics, many marketplaces have shifted to a globally accessible platform. Amazon, eBayeBay, Alibaba are some of the well-known web-based modern marketplaces.

Marketplace refers to a platform or location where items, real or digital are traded. Purchase and sale of products are made through money or digital currency. Traditional marketplace were locations where people traded essential items, livestock, food, and clothing. With the rise of the Internet, modern technology and logistics, many marketplaces have shifted to a globally accessible platform. Amazon, eBay, AlibabaAlibaba are some of the well-known web-based modern marketplaces.

Marketplace refers to a platform or location where items, real or digital are traded. Purchase and sale of products are made through money or digital currency. Traditional marketplace were locations where people traded essential items, livestock, food, and clothing. With the rise of the Internet, modern technology and logistics, many marketplaces have shifted to a globally accessible platform. AmazonAmazon, eBay, Alibaba are some of the well-known web-based modern marketplaces.

Marketplace refers to a platform or location where items, real or digital are traded. Purchase and sale of products are made through money or digital currencydigital currency. Traditional marketplace were locations where people traded essential items, livestock, food, and clothing. With the rise of the Internet, modern technology and logistics, many marketplaces have shifted to a globally accessible platform. Amazon, eBay, Alibaba are some of the well-known web-based modern marketplaces.

For 2-sided marketplaces, an extension to the traditional marketplace business model -- incorporating financial services to enable new types of on-platform transactions -- is the key to unlocking that higher level of opportunity. In this essay, we'll explain why this apparently simple change will have enormous implications, and how it has already begun to define the next stage in marketplaces. We'll also explain why what we're calling fintech-enabled marketplaces have the potential to upend both traditional offline industries and incumbent marketplaces alike.

To expand on what we introduced above, fintech-enabled marketplaces are marketplaces with tech-enabled financial services built directly into the platform. Recently, we're seeing marketplaces begin to offer services like:

As marketplaces continue their relentless push to capture more of the transaction and provide improved user experience, the path and opportunity for marketplaces to embed financial services is clear. For instance, high transaction value capture by financial services is one reason why 21% of Fortune 100 companies are financial services companies.

By integrating the third party and bringing financial services on-platform, fintech-enabled marketplaces will be well-poised to provide a superior user experience, allowing them to break into major industries with historically low tech penetration. On the flip side, by adding a marketplace network effect to financial services, fintech-enabled marketplace companies will enjoy a level of defensibility not traditionally seen in financial service companies.

By providing key financial services that enable the transaction, marketplaces can drastically improve the incentive for both sides of the market to keep their transactions both online and exclusive.

Marketplace refers to a platform or location where items, real or digital are traded. Purchase and sale of products are made through money or digital currency. Traditional marketplace were locations where people traded essential items, livestock, food, and clothing. With the rise of the Internet, modern technology and logistics, many marketplaces have shifted to a globally accessible platform. Amazon, eBay, Alibaba are some of the well-known web-based modern marketplaces.

For 2-sided marketplaces, an extension to the traditional marketplace business model -- incorporating financial services to enable new types of on-platform transactions -- is the key to unlocking that higher level of opportunity. In this essay, we'll explain why this apparently simple change will have enormous implications, and how it has already begun to define the next stage in marketplaces. We'll also explain why what we're calling fintech-enabled marketplaces have the potential to upend both traditional offline industries and incumbent marketplaces alike.

To expand on what we introduced above, fintech-enabled marketplaces are marketplaces with tech-enabled financial services built directly into the platform. Recently, we're seeing marketplaces begin to offer services like:

As marketplaces continue their relentless push to capture more of the transaction and provide improved user experience, the path and opportunity for marketplaces to embed financial services is clear. For instance, high transaction value capture by financial services is one reason why 21% of Fortune 100 companies are financial services companies.

By integrating the third party and bringing financial services on-platform, fintech-enabled marketplaces will be well-poised to provide a superior user experience, allowing them to break into major industries with historically low tech penetration. On the flip side, by adding a marketplace network effect to financial services, fintech-enabled marketplace companies will enjoy a level of defensibility not traditionally seen in financial service companies.

By providing key financial services that enable the transaction, marketplaces can drastically improve the incentive for both sides of the market to keep their transactions both online and exclusive.