An online marketplace is a digital platform where information regarding a product or service is exchanged between multiple parties. The objective is to streamline the processes of product discovery, evaluation, prospecting, and purchase in a lean business model. But given the available opportunities in marketplaces today, it is interesting to note how many vendors and products are showcased on the customers screen. For instance, Facebook Marketplace was being used by 800 million people in 70 different countries every month in 2018 while Amazon encases close to 9.6 million sellers who acquired 54 percent of paid units in the third quarter of 2020. In such a multi-vendor ecosystem, ensuring that your product has a high success rate of getting noticed amongst thousands of variants depends on– Looking for a perfect PIM? Check for these five features! Creating a unique offer and displaying it strategically Adhering to marketplace standards Being responsive and always keeping catalogs ...
