What is an online marketplace?

An online marketplace is best defined as a website that facilitates consumer-to-consumer or business-to-consumer transactions. This type of platform acts as an intermediary, connecting buyers and sellers to enable transactions through a convenient, digital interface. Examples of online marketplaces include eBay, Amazon, and Etsy, where various vendors can list their products or services, and customers can browse and make purchases.

This definition captures the essence of what an online marketplace is meant to do, creating an environment where different participants can engage in buying and selling, often with added features like reviews, ratings, and secure payment systems to enhance the user experience. The focus on facilitating transactions is key to understanding the significance of these platforms in the current digital economy.