The Rise of the Online Marketplace and its Impact on Ecommerce
Although online marketplaces have been in existence over the past two decades mainly focus on retail, such as eBay, Amazon, Rakuten, the past 5 – 8 years, was when the world saw a revival and furious growth of online marketplaces, powered in particular by the emergence of the sharing economy. Unlike their predecessors, these marketplaces are more industry or regional specific. Their existence is to solve a particular pain-point in the market or for specific region. These include, Uber, Grab and Airbnb whose model disrupts traditional modes of transport and accommodation as well as more regional specific “me-toos” like Go-Jek and Panda Bed.
So what has caused this wave of disruption resulting in the sudden trend towards online marketplaces in eCommerce? Is this trend sustainable? What would we expect from this new era of ecommerce? Will the use of online marketplace platforms be used solely for profit generating purposes? What does this new era of ecommerce need to sustain its growth?
Kenneth is the Co-Founder & Chief Commercial Officer of Arcadier. Ken is a highly experienced strategist with over 16 years experience in scaling businesses across diverse markets. Before founding Arcadier, Kenneth was PayPal Inc, Asia Pacific Head of Strategy and Partnerships. Ken also holds degrees from the University of Oxford, University of Western Australia, and is a chartered accountant.
Arcadier, headquartered in Singapore with offices in Sydney and Manila is the world’s fastest growing (Marketplace-as-a-Service) company, powering over 2,500 marketplaces in 96 countries. Arcadier allows anyone with no technical background to build their own marketplace within minutes – simple to use, with no coding knowledge required. Their fully-hosted platform supports various forms of multi-vendor ecommerce models, where users can easily choose from an array or modern website layouts to build their own retail, services, space rental or equipment rental marketplaces.