Online marketplaces have been popularised by Big Tech corporates such as Uber, Amazon, Meta, and Apple. They are a rising aspect of 21st century commerce as digitalisation and the sharing and gig economies advance. A whitepaper produced by Deutsche Bank and TMI outlines the steps corporate treasurers should take to create and support these innovative areas for buyers and sellers.
Digital marketplaces are sophisticated online ecosystems that serve as intermediaries connecting multiple stakeholders in an online economy. They can be found in both the B2C and B2B arenas, and their uptake by companies across many different industry sectors is increasing apace.
Indeed, research by Forrester has already shown a shift of more than $2tr. from traditional retail, dealer, and reseller channels into these platforms in recent years and growth is expanding. Amazon serves as a prime example of a digital marketplace that caters to both B2B and B2C customers. It connects businesses with a platform to reach consumers (B2C), while also providing services like Amazon Business, which enables B2B procurement.
“While buyers enjoy greater choice, faster delivery, and cost reductions, sellers gain access to a larger client base with reduced risk,” says Matthaeus Sielecki, Head of Embedded Finance Solutions, Cash Management at Deutsche Bank.