OLX.com provides a platform where people can sell their used goods to other people. Identify the type of e-business transaction facilitated by OLX.com and also explain other transactions in the course of e-business.
Answers
Explanation:
OLX.com provides a platform where people can sell their used goods to other people. Identify the type of e-business transaction facilitated by OLX.com and also explain other transactions in the course of e-business
Answer:
OLX Business Model
Explanation:
The OLX company has risen very high in e-commerce website business.
People find it very convenient because we can buy some goods at a very low cost.While we have a option to sell our goods too.
OLX has a parallel system for customers running side by side. People who wish to sell any goods can upload their advertisements just like one is expected to do in a classifieds portal. People who wish to buy goods may browse through the listing.
Sellers need to upload pictures of their goods, along with a title and description of the same and the expected sales price of the commodity. The buyers are allowed to browse through the several alternatives, contact the seller, negotiate with them one-to-one, and then purchase the item.
The surprising fact is that OLX doesn’t act as a liaison between the buyer and the seller. It acts as a mere catalyst for connecting the two online through a classifieds portal. The conversation, bargaining, advances, and transactions remain between the buyer and seller only.
The business model is C2C (Consumer-to-Consumer) based on a simple classified website. The revenue model, however, is much different when compared with Craigslist as it has a parallel system for customers operating side by side. The platform allows sellers to directly upload pictures of the stuff alongside text details, just like an actual advertisement.