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August 24, 2018, 09:28:22 PM |
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Centralized Marketplaces are harming the E-Commerce Industry
The E-Commerce industry is huge. A study found that in 2016, all global E-Commerce sales amounted to 1.859 Trillion USD. A massive quantity of wealth is being poured into online retail companies on a daily basis, and at this rate, E-Commerce may look invincible, but this is far from the truth. While the industry is clearly doing well, it is not without its unpleasant attributes.
Most major marketplaces are actually causing harm to the E-Commerce industry. The current model for marketplaces involves overcharging buyers and unfairly treating sellers. Centralized market leaders like Amazon and EBay focus too much on making sure that their own sites grow, leading them to punish sellers by taking more money from them and forcing them to pay for services which they do not need. The problem is that these markets think they have no genuine competition. At this point, the biggest centralized marketplaces are convinced that their actions will not negatively affect their stature. They can make arbitrary rules, they can charge extortionate rates, and they can change their platform with the click of their fingers. There are no checks and balances. While governments may step in at times to ensure that matters regarding taxation and employment law are being followed, there is nobody who steps in to make sure that the platforms themselves are actually fair to the consumer.
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