What is the definition of an online marketplace?

An online marketplace is defined as a platform that facilitates the connection between buyers and sellers in a digital environment. This definition encompasses a wide range of platforms that enable transactions to occur without the necessity of a physical storefront. Instead of requiring sellers to have their own independent e-commerce sites, an online marketplace provides a centralized location where various sellers can showcase their products or services, and buyers can browse and make purchases.

This definition is broad enough to include well-known platforms like Amazon, eBay, and Etsy, where numerous vendors can interact directly with consumers through a unified interface. This capability is crucial for businesses seeking to reach wider audiences without the burdens associated with creating and maintaining an individual online presence.

The other options provided do not accurately capture the essence of an online marketplace. For example, describing it as a physical store that sells products online misrepresents its digital nature. Similarly, calling it a type of advertising platform does not reflect its primary function of facilitating transactions. Lastly, limiting an online marketplace to a venue for second-hand goods fails to acknowledge the diverse range of products that can be sold, from new merchandise to services.