Online marketplace is an internet platform that allows third-party companies to sell their products alongside the products owned by the online market giant, who owns this marketplace. Many third-party sellers are willing to pay it a fee or percentage of their sales for access to a greater number of customers to this online marketplace. The best examples of large online marketplace, which operate analogous platforms, are few and diversified across the globe.
The are many benefits which online marketplace bestows to its consumers which include inter alia stimulating the demand by showcasing different products, reducing asymmetric information by revealing the prices