What is a marketplace? This is an e-commerce site in which independent sellers sell products on a common storefront and in their mini-stores on that site. This approach has gained popularity due to the fact that it has reduced prices compared to conventional online shopping. In addition, marketplaces offer a much larger assortment of goods than usual offline stores.

For an online business, marketplaces open up great opportunities for the development and growth of sales. It is also a good idea for your own project and investment. A natural question arises as to how to correctly create an online marketplace website and successfully launch it. The main goal that you should pursue is that the marketplace solves the questions of sellers and buyers. Such a project should be needed by your target audience.

It is helpful to do marketing research of your niche market and conduct preliminary negotiations with suppliers, consumers, and entrepreneurs. Observing competitors will help you find the strengths and weaknesses of your project and possibly give you new ideas.

In the future, you will have to launch the MVP of the marketplace and thoroughly test it. This is a test version of the marketplace that will help you understand the viability of your platform. It will also be possible to test the main ideas in conditions as close to real ones as possible.