31-08-2017, 04:14 PM
A virtual market, also called e-commerce market, allows third-party vendors to sell their products. These third party vendors could be individual traders, large goods manufacturers, or anything in between.
Unlike conventional e-commerce websites, markets transfer the burden of holding inventories, logistics, images, product descriptions, and pricing to the seller. There is more than one operating model for the markets, but the most common method implies that markets are simply a reservation mechanism.
Markets display the seller's goods, collect orders and payments, send orders to the seller, track the delivery, and release the payment to the seller after deducting a fee.
Unlike conventional e-commerce websites, markets transfer the burden of holding inventories, logistics, images, product descriptions, and pricing to the seller. There is more than one operating model for the markets, but the most common method implies that markets are simply a reservation mechanism.
Markets display the seller's goods, collect orders and payments, send orders to the seller, track the delivery, and release the payment to the seller after deducting a fee.