There are five main key challenges of P2P marketplace development and How to solve them with Technology.
1. Efficient Searching and Matching: When you gather a lot of individual sellers in one place, you are guaranteed to have very diverse offerings and approaches to selling. And the same goes for buyers. Thus, you need to build a peer-to-peer marketplace software that will help buyers and sellers find each other as easily and as fast, as possible.
There are two approaches to that:
2. Centralize Search: With a centralized approach, you intentionally narrow the options for sellers and buyers to ensure efficiency. This can be a good solution for on-demand products and services that are more or less homogenous, i.e. don’t have an insane amount of options (e.g. taxi and delivery services, as opposed to artwork on Etsy or accommodation on Airbnb).
In addition to that, consumers of on-demand services are usually sensitive to waiting time, which makes them ready to give up some of the choice freedom for speed and cost-savings (‘I don’t care what driver with what car is going to give me a ride, as long as it is fast and safe.’). Therefore, the most common solution for the centralized approach is location based search:
3. Trust and Security: There are three ways to generate trust:
4. Social Communication Platform for easy reach
5. Increase more traffic
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