The History of Online Marketplaces

Marketplaces have taken the world by storm and have rapidly become the place-to-go for online shopping of all kinds. If and when you decide to start your own online marketplace, there will be many decisions you will need to make that impact your company's overall success. Some of the most crucial decisions you will face, revolve around how you should build your marketplace and if it is something you require a partner for, or can give it a go alone.

Marketplaces, have the ability to allow you to expand and grow exponentially, whilst keeping full control of your business and stock. But how exactly did marketplaces start? Who was the first person to create a marketplace, and what was its form back then?

Let's have a look at a brief history of Marketplaces below, starting from 1865 and until the inception of Martizer.com!

Compared to the time it took traditional, physical marketplaces to transform from informal events in a town square to today’s gigantic shopping malls, eCommerce, including online marketplaces, is still in its very early stages.

Having grown substantially since its inception in 1982, online marketplaces now represent nearly 40% of online retail and are still growing relentlessly. According to reports by Coresight Research and Kahuna, online marketplace revenues are expected to double from $18.7 billion in 2017 to $40.1 billion in 2022. Most of this is generated by giants like Amazon, which features over 300,000 small to medium businesses in its online marketplace, providing a convenient platform for new and old online businesses.

Of course, online marketplaces are not only limited to physical goods as per-to-peer marketplaces such as Airbnb, trade in short-term rentals, and Uber, valued at nearly $100 billion, trades in transport.

Despite its explosive growth the online marketplace model is still relatively new and in its infancy. As such, taking advantage of this opportunity now, may put you in a better position for the future by adopting the most beneficial model out there.

Here at MarketCube.io, we are not only able to provide a complete marketplace solution created by our expert technical team, but also providing onboarding, support, and much other useful literature (FAQs - Manuals) for our new and existing members.

Leverage our scalable platform and infrastructure so you can focus on delivering business goals faster and more effectively. Unlock MarketCube's 30+ years of proven marketplace technology, knowledge, and expertise and drive commercial success whilst we continue to innovate our platform.

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