Categories: Technology

Digital Marketplaces Are Changing The Way Canadians Shop

Digital open marketplaces have revolutionized how people shop in countries worldwide, including Canada. They offer shoppers transparency and choice by creating a competitive environment for sellers.

Let’s see how these marketplaces are impacting Canadians.

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1. Choice

Digital open marketplaces in different agencies are empowering Canadians like never before. In the typically murky real estate industry, consumers can now find verified, reputable, and trustworthy real estate agents by utilizing the disruptive real estate platform, Nobul.

Founded by innovator Regan McGee, Nobul has shaken up the local real estate markets by having agents compete for the business of home buyers and sellers. It’s also the only online real estate marketplace with verified agent reviews.

For the first time, Canadian real estate buyers feel in control.

“Traditionally, real estate agents and brokerages have had distinct advantages over consumers, including access to information, unclear service offerings and no real standards when it comes to pricing,” McGee said in a chat with MPA Mag.

“We’ve seen how the power of digital open marketplaces has affected real change for consumers in Canada, and we are really excited to bring the same value and benefits to our friends across the border. The largest transaction in most people’s lives should come with transparency, choice, simplicity, and trust.”

2. Competition

One of the keys to a healthy market is competition. Open digital marketplaces initiate competition by having multiple parties compete for a user’s attention. open digital marketplaces including eBay Canada, Amazon, Walmart, and others foster a competitive seller environment for Canadian users.

These online marketplaces feature multiple third-party sellers who compete with others on price. Of course, competition also leads to creativity. Many sellers on digital open marketplaces offer innovative new products and services to stand out from their peers.

3. Transparency

Unlike conventional marketplaces, digital open marketplaces enhance transparency by allowing users to check verified reviews. For example, Amazon features reviews from reputable and experienced users. It also verifies reviewers by checking if they actually bought the products in question.

Nobul, on the other hand, is the only marketplace to verify real estate agent reviews to help potential home buyers and sellers make an educated choice when choosing an agent.

Transparency helps Canadians make informed decisions and look past marketing jargon. It also had an impact on the Canadian marketing culture. Some companies are avoiding using tall claims to attract buyers. Instead, they’re more upfront about their products and services.

4. Safety

The COVID-19 pandemic raised safety concerns for Canadian shoppers. Responding to physical distancing rules, many avoided purchasing items from brick-and-mortar stores. Instead, they turned to open marketplaces to buy meals, groceries, food, clothes, and other essential items from the safety of their homes.

5. Security

Canadians are shopping with greater security on open digital marketplaces. Instead of using cash at brick-and-mortar stores that can be easily misplaced or stolen, they’re buying on secure platforms with enhanced safety features. Additionally, they’re using credit cards and payment mediums like PayPal for fraud protection.

Credit card companies and ecommerce platforms counter fraud by using artificial intelligence and machine learning to identify unusual patterns in transactions. While a bank may decline a credit card transaction if a user’s IP address constantly changes, PayPal may investigate a purchase if a user suddenly starts making large buys.

Top Canadian digital open platforms have impacted the market by offering more transparency, choice, safety, security, and competition to customers.