Traditional market changed to online marketplace

The evolution of the market is one of the most significant factors in the journey of mankind. Humans have evolved throughout the centuries and that would not have been possible if they were restricted by geographical boundaries.

The journey began roughly 2.6 million years ago; i.e. stone age. During this era, the stone tools were used for hunting and people were self-sufficient. They traveled in search of food and shelter, and they were no concept of farming, barter, money, merchants, exchange or trading.

Way back in 6000 BC, people have now learned the art of farming, domesticating animals, agriculture is booming and a food-production economy has emerged. The barter system has evolved and people started exchanging goods with each other. Goods were exchanged for food, tea, weapons, and spices. At times, human skills were used as well. Salt was another popular item exchanged. As more people got the understanding of the barter system, it became popular and organized.

With this popularity, the concept of trading came into the picture and it was done through groups or between people who acted similar to shops. Trade provides mankind’s most significant meeting place, the market.

So the market is a medium that allows buyers and sellers of a specific good or service to interact in order to facilitate an exchange. This type of market is called the physical market where people come together to exchange goods and services in person, or in a bazaar or shopping center.

In 1995, the world saw a paradigm shift from the physical market to a virtual market where people gain access to goods with the help of technology. eBay was launched to change the era from the traditional market to the virtual market and later on it change to an online marketplace platform.

What is Online Marketplace Platform?

A type of e-commerce medium that help sellers and potential buyers to find each other online and then interact to do trading activities. It can be rent or sell goods, exchange or service online.

The second wave of marketplace economy started with the founding of Airbnb in 2008 and the spark is still on!

The spark of this economy gave a kick to the whole squad and we decided to burn ourselves in building the beautiful online marketplaces platforms.

We offer special solutions to startups & budding entrepreneurs who wanting to launch directory, classifieds, or marketplace platforms.

Do you want to launch your own marketplace and need some help?

Yes, contact at hello@marketplacesquad.com