Running a successful marketplace isn’t just about connecting buyers and sellers. It’s about tracking the right metrics to ensure growth, efficiency, and platform health. Here’s a quick breakdown of the 14 key metrics you need to monitor:
- Gross Merchandise Value (GMV): Measures the total value of transactions on your platform.
- Average Order Value (AOV): Tracks the average amount spent per purchase.
- Conversion Rate: Shows how well visitors turn into paying customers.
- Customer Retention Rate: Measures how many buyers return to your platform.
- Seller Churn Rate: Tracks how many sellers leave your platform over time.
- Customer Satisfaction (NPS): Gauges buyer loyalty and likelihood to recommend.
- Return and Refund Rates: Highlights product quality and listing accuracy issues.
- Customer Service Response Time: Measures how quickly customer inquiries are handled.
- Customer Acquisition Cost (CAC): Tracks how much it costs to acquire each new customer.
- Website Traffic and Sources: Analyzes where your visitors come from and how they engage.
- GMV Retention: Measures how much transaction value is retained over time.
- Seller Concentration: Tracks how dependent your marketplace is on top sellers.
- Liquidity: Reflects how easily buyers and sellers connect and complete transactions.
- Unit Economics: Assesses the profitability of individual transactions.
By focusing on these metrics, you can make data-driven decisions to improve user experience, retain buyers and sellers, and scale your marketplace sustainably. Each metric offers unique insights into your platform’s performance, helping you identify opportunities and address challenges.
Quick Comparison of Metrics
Metric | Purpose | Key Insight |
---|---|---|
GMV | Tracks total transaction value | Platform growth and activity |
AOV | Measures average spend per order | Customer spending habits |
Conversion Rate | Tracks visitor-to-buyer success | Platform efficiency |
Customer Retention Rate | Measures repeat buyer behavior | Long-term customer loyalty |
Seller Churn Rate | Tracks seller retention | Vendor satisfaction and stability |
NPS | Gauges customer loyalty | Buyer satisfaction |
Return/Refund Rates | Highlights product issues | Quality and accuracy |
Response Time | Measures customer service speed | Buyer trust and satisfaction |
CAC | Tracks cost of acquiring new customers | Marketing efficiency |
Traffic Sources | Analyzes visitor origins and engagement | Marketing performance |
GMV Retention | Tracks value retention from sellers | Platform health |
Seller Concentration | Measures dependency on top sellers | Risk and stability |
Liquidity | Reflects ease of transactions | Buyer-seller connection |
Unit Economics | Assesses transaction profitability | Financial sustainability |
These metrics work together to provide a full picture of your marketplace’s performance. Start tracking them to build a scalable, profitable platform.
Marketplace Metrics Workshop
1. Gross Merchandise Value (GMV)
Gross Merchandise Value (GMV) represents the total value of transactions on your platform, excluding discounts, returns, and taxes. It’s a key metric for gauging how well your marketplace connects buyers with sellers [1].
Here’s what to pay attention to when analyzing GMV:
Aspect | Why It Matters |
---|---|
Growth Rate | Indicates platform adoption |
Transaction Volume | Reflects marketplace activity |
Seasonal Patterns | Highlights peak performance periods |
To improve GMV performance, consider these steps:
- Monitor transaction and conversion data to pinpoint areas causing friction.
- Evaluate vendor performance metrics to help sellers succeed.
- Streamline the checkout process to enhance user experience.
For marketplace founders using tools like Markko, built-in analytics can simplify tracking GMV alongside other key metrics, helping you make informed decisions that support growth [2].
Another valuable angle is GMV retention, which sheds light on your marketplace’s long-term viability. We’ll dive deeper into this later. Keep in mind, GMV works best when paired with metrics like Customer Acquisition Cost (CAC) and Customer Lifetime Value (CLV) to give a more complete view of your platform’s health [2][3].
While GMV highlights your marketplace’s total economic activity, Average Order Value (AOV) provides insight into transaction quality and customer behavior.
2. Average Order Value (AOV)
Average Order Value (AOV) measures the average amount spent per transaction. To calculate it, divide your total revenue by the number of orders. This metric gives insight into customer spending habits and plays a key role in shaping revenue strategies.
Here’s how AOV can influence business decisions:
Aspect | Impact | Strategic Action |
---|---|---|
High AOV | Reflects strong purchasing power | Emphasize premium products and offer exclusive services |
Low AOV | Points to price sensitivity or a limited product range | Use bundling and cross-selling to boost purchase value |
Fluctuating AOV | Indicates seasonal or market-driven trends | Adapt pricing and promotions to align with demand |
Analyzing AOV trends can help you fine-tune your marketplace strategy in several ways:
- Optimizing Product Mix: AOV data can reveal which product combinations encourage higher spending. Use this insight to suggest add-ons during checkout.
- Refining Pricing Tactics: Set free shipping thresholds slightly above your current AOV (around 15–20%) to encourage bigger orders.
- Segmenting Customers: By examining AOV patterns, you can identify your most valuable customer segments and tailor marketing efforts to them for better engagement.
Platforms like Markko offer tools to track AOV alongside other metrics, helping you make informed choices about pricing, promotions, and product offerings. The real value lies in monitoring AOV over time and understanding how it interacts with metrics like GMV and customer retention.
Keep in mind that AOV benchmarks differ widely across industries and product categories. Focus on improving your AOV within your specific market instead of chasing generic targets.
Lastly, while AOV measures transaction value, Conversion Rate focuses on how well you turn visitors into buyers – another key metric for marketplace growth.
3. Conversion Rate
Conversion rate is a crucial metric for understanding how well your marketplace turns visitors into paying customers. It’s calculated by dividing the number of completed purchases by the total number of visitors, then multiplying by 100. This metric directly affects your GMV (Gross Merchandise Value) and AOV (Average Order Value), making it a key indicator of your marketplace’s performance.
Here’s a quick breakdown of how conversion rates can influence marketplace success:
Conversion Rate | What It Means |
---|---|
Below 1% | Urgent action needed (improve UX, pricing, or product listings) |
1-2% | Room for improvement (optimize checkout flow and product descriptions) |
2-5% | Standard for the industry (focus on small, incremental enhancements) |
Above 5% | Outstanding (scale operations while maintaining quality) |
Several factors influence conversion rates, including user experience (fast page loads, mobile-friendly design), trust signals (customer reviews, secure payment options), and product presentation (high-quality images, clear descriptions, competitive pricing). For example, offering a one-click checkout option can significantly reduce abandoned carts.
To boost conversion rates, rely on data to guide your decisions. Use A/B testing to experiment with product layouts, call-to-action buttons, pricing strategies, and checkout processes. Platforms like Markko offer analytics tools that help pinpoint weak spots, whether it’s the checkout page or specific product categories.
Don’t just focus on short-term wins. Analyze conversion rates alongside AOV and customer retention metrics to ensure steady growth. Also, track how rates differ across product categories and customer segments. This allows you to create targeted strategies that improve both user satisfaction and platform performance.
While conversion rate tells you how well visitors are converting into customers, keeping those customers engaged and coming back is just as important for long-term success.
4. Customer Retention Rate
Customer retention rate shows how many of your marketplace buyers come back for more. Even a slight uptick here can make a big difference – lowering acquisition costs and boosting customer lifetime value. The formula is straightforward: ((Customers at End – New Customers) / Customers at Start) × 100.
Several factors influence retention:
- Product quality and availability
- Competitive pricing
- Ease of use on the platform
- Quick order fulfillment
Take Airbnb, for example. They keep users coming back by offering tailored experiences and reliable customer support. This highlights how focusing on retention can lead to consistent growth.
To dig deeper, try using cohort analysis. This method helps you see how different groups of customers behave over time, making it easier to spot your most loyal users and identify areas needing improvement. A retention rate under 40% signals room for growth, while anything above 60% is a strong indicator of success.
Tools like Markko can help you monitor retention trends and refine your strategies. This metric works hand-in-hand with GMV and AOV, ensuring your customers stay engaged and revenue continues to grow.
And don’t forget the other side of the equation – keeping sellers happy is just as important for maintaining a healthy marketplace.
5. Seller Churn Rate
Keeping customers is important, but holding onto sellers is just as crucial for marketplace growth. The formula for seller churn rate is simple: (Sellers lost ÷ Total sellers at start) × 100.
When seller churn is high, it can lead to fewer product options, which then drives down buyer interest and Gross Merchandise Value (GMV). This creates a downward spiral for marketplaces. Watch out for these signs of seller churn:
- Fewer listings being added
- Sellers logging in less often
- Drops in sales performance
- Little to no interaction with platform updates
Etsy tackles this issue with workshops, forums, and better tools for creating listings, helping to keep sellers engaged and active.
Here’s how you can track and address seller churn effectively:
Timeframe & Metric | What to Do |
---|---|
Daily: Login frequency | Reach out to sellers who are becoming less active. |
Weekly: Sales trends | Offer help to sellers whose sales are lagging. |
Monthly: Listing activity | Send reminders or offer incentives to refresh their inventory. |
Quarterly: Retention rate | Look for patterns and tweak your strategies based on the data. |
Using proactive measures like competitive pricing, helpful analytics tools, and clear communication can go a long way in keeping sellers on board. Tools like Markko simplify this process by offering built-in vendor management features, making it easier to spot and address churn risks early.
Keeping an eye on seller churn, along with GMV retention and liquidity, creates a balanced platform where both buyers and sellers can thrive. Up next, we’ll dive into how customer satisfaction metrics can work hand-in-hand with seller retention to create a healthy marketplace.
6. Customer Satisfaction (Net Promoter Score, NPS)
Net Promoter Score (NPS) gauges customer loyalty with a single question: "On a scale of 0-10, how likely are you to recommend our marketplace to a friend or colleague?"
Based on responses, customers are grouped into three categories: promoters, passives, and detractors. Promoters are your advocates, passives are neutral, and detractors could damage your brand. Knowing these groups helps you focus on retention and growth strategies. For example, if 60% are promoters and 20% are detractors, your NPS is 40.
Customer Type | Response Rate | Suggested Action |
---|---|---|
Promoters | Above 50% | Use for testimonials and referrals |
Passives | 25-35% | Focus on upsell or upgrade opportunities |
Detractors | Below 15% | Address issues immediately |
In a marketplace, NPS insights help you improve the experience for both buyers and sellers. It acts as a warning system for dissatisfaction, informs product updates, benchmarks your performance against competitors, and reduces churn by addressing concerns early.
To make the most of NPS, send surveys after key interactions, follow up with detractors quickly, monitor trends over time, and break down results to uncover actionable insights. Tools like Markko, with built-in analytics, can track NPS alongside other metrics, helping you connect customer satisfaction to overall platform performance.
Keep in mind: NPS isn’t just a number – it’s about the feedback behind it. A marketplace with an NPS of 40 that actively resolves customer concerns will likely outperform one with a higher score that ignores feedback. Use NPS to spot loyalty patterns and identify areas to improve.
7. Return and Refund Rates
Return and refund rates are critical for assessing how well a marketplace is performing. They directly influence costs and customer satisfaction, making them essential metrics to track.
These rates often highlight problems that might not show up in other data:
Issue Type | Common Causes | Impact on Business |
---|---|---|
Product Quality | Poor product quality | Increased operational costs |
Listing Accuracy | Inaccurate descriptions | Higher customer service load |
Vendor Performance | Issues with vendors | Reduced customer trust |
Having clear and customer-friendly return policies can encourage purchases and help build trust. However, high return rates can drive up costs and negatively affect metrics like GMV (Gross Merchandise Value) and AOV (Average Order Value). They can also discourage repeat purchases and weaken customer loyalty.
Here’s how you can work on lowering return rates:
- Improve Product Listings and Descriptions: Accurate and detailed descriptions, along with high-quality images, help set the right expectations. Including customer reviews can also help reduce returns caused by mismatched expectations.
- Track Vendor Performance: Keep an eye on return rates by vendor and look for trends across categories or seasons. Address recurring issues to improve quality and reliability.
Experts recommend keeping return rates between 5-10% and refund rates between 2-5% for a well-performing marketplace. Striking the right balance is key – while reducing returns is important, maintaining customer-friendly policies is just as critical. Shoppers need to feel confident about their purchases.
Efficient return management helps control costs, but don’t overlook customer service response times. Quick and effective service boosts trust and keeps customers coming back.
sbb-itb-e854437
8. Customer Service Response Time
Quick customer service response times are a must, with 90% of customers expecting help right away. In multi-vendor marketplaces, responding promptly not only keeps customers happy but also builds trust between buyers and sellers.
The way you handle response times can make or break your marketplace. A surprising 62% of companies fail to reply to customer service emails [1], which can hurt their reputation and cost them business. Most customers want a reply within 24 hours, and 40% expect it in less than an hour. Speed matters when it comes to keeping customers satisfied and loyal.
Here’s how to improve your response times:
- Offer Multi-Channel Support: Provide options like live chat, email, and phone support so customers can reach you in the way they prefer.
- Leverage AI Tools: Use chatbots to handle simple questions, freeing up your team for more complicated issues.
- Set Clear Expectations: Define response time goals and make sure both your team and customers know what to expect.
Keep an eye on key metrics like First Response Time (FRT), Average Resolution Time, and Customer Satisfaction Score (CSAT). These numbers can highlight areas where your service might be slowing down and show where you can improve.
While fast responses are crucial for keeping customers happy, metrics like website traffic can also give you insight into how engaged your marketplace audience is overall.
9. Customer Acquisition Cost (CAC)
Customer Acquisition Cost (CAC) shows how much you’re spending to gain each new customer. It’s a key metric for evaluating the efficiency of your marketing and sales efforts and ensuring your marketplace stays profitable as it grows. Pairing CAC with metrics like GMV and retention gives you a clearer picture of your marketplace’s financial health.
To calculate CAC, divide your total marketing and sales expenses by the number of new customers acquired in a specific time frame. For example, if you spend $10,000 on marketing and bring in 100 new customers, your CAC is $100 per customer.
A good CAC-to-CLV ratio typically falls between 1:3 and 1:5. This means a $100 CAC should ideally result in $300–$500 in lifetime revenue to keep your business on solid footing.
Breakdown of CAC Components
Cost Component | Examples | Impact on CAC |
---|---|---|
Marketing Spend | Paid ads, social media, content creation | Direct impact; Airbnb cut CAC by 30% with better ad targeting |
Sales Expenses | Salaries, commissions, sales tools | Major influence |
Technology Costs | CRM systems, analytics tools | Indirect impact; Dropbox reduced CAC by 25% using content marketing |
Operational Costs | Customer support during acquisition | Moderate influence |
Tips to Optimize CAC
- Track Channel Performance: Identify which channels offer the best return on investment. Focus your efforts there.
- Improve User Experience: Enhance your platform’s website and checkout process to boost conversions and extend customer lifetime value.
Common CAC Mistakes
Some businesses fail to account for all marketing expenses or don’t segment CAC by customer type or acquisition channel. Regularly reviewing your CAC helps uncover areas for improvement and supports sustainable growth.
Using tools like Google Analytics and Mixpanel can make tracking and analyzing CAC easier. These tools provide insights into marketing performance and help you understand where your customers are coming from and how they engage with your platform. This knowledge allows you to fine-tune your resource allocation and marketing strategies effectively.
10. Website Traffic and Sources
Analyzing website traffic isn’t just about numbers – it’s about understanding how users find and interact with your marketplace. This insight helps sharpen both acquisition and retention efforts, making every marketing dollar count.
Key Traffic Metrics and Sources
Metric | What It Measures | Why It Matters to Your Marketplace |
---|---|---|
Page Views | Total pages viewed | Tracks how engaging your content is |
Session Duration | Time spent per visit | Indicates user interest and engagement |
Bounce Rate | Single-page visits | Highlights potential user experience issues |
Organic Search | Traffic from search engines | Brings in visitors actively searching for your offerings |
Direct Traffic | Visitors entering directly | Reflects brand awareness and loyalty |
Social Media | Traffic from social platforms | Shows how well your community connects with your brand |
Paid Campaigns | Traffic from ads | Measures how effective your paid marketing is |
By focusing on these metrics, you can identify what’s working and where adjustments are needed. For example, if organic search accounts for 40% of your conversions but paid campaigns only contribute 15%, you might decide to shift resources to improve SEO efforts.
Monitoring and Analysis
Analytics tools are your best friend here. Platforms like Google Analytics give you a detailed look at traffic patterns and user activity, while specialized tools can offer competitive insights. Some marketplace solutions, like Markko, integrate traffic data with metrics like conversion rates and GMV (Gross Merchandise Value), giving you a complete picture.
Instead of chasing high traffic numbers, aim to attract visitors who are genuinely interested in your marketplace. This targeted approach not only supports growth but also strengthens key metrics like GMV retention and overall platform stability.
11. GMV Retention
Traffic and acquisition metrics are great for spotting growth opportunities, but GMV retention shows how well your marketplace holds onto its value over time. A high GMV retention rate means your platform is consistently delivering value, which is key to long-term success.
GMV Retention Benchmarks
Top-tier marketplaces set themselves apart with strong GMV retention from their suppliers:
Time Period | Elite Performance | Average Performance |
---|---|---|
First 12 Months | ≥100% | 80-95% |
Retention at 3 Months | >100% | 80-95% |
Retention at 12 Months | >100% | 45-50% |
While many platforms see a drop in GMV retention over time, the best marketplaces maintain or even grow their transaction volumes with existing suppliers.
Why GMV Retention Matters
GMV retention has a direct impact on your platform’s overall health:
Aspect | High GMV Retention | Low GMV Retention |
---|---|---|
Platform Growth | Steady, compounding growth | Heavy reliance on new user acquisition |
Supplier Behavior | Strong supplier loyalty | Increased risk of supplier churn |
Customer Experience | Reliable service quality | Inconsistent availability |
Unit Economics | Lower acquisition costs | Higher marketing expenses |
"For most early-stage marketplaces, it makes the most sense to track the repeat purchase rate and GMV retention, which provides a clearer picture of platform health." – Sharetribe Academy [1]
How to Apply GMV Retention Insights
Here’s a quick example: Let’s say 10 suppliers generate $10,000 in January. By February, only 5 suppliers remain, but they generate $7,500. This gives you a GMV retention rate of 75%. Even with fewer suppliers, the platform retains a good chunk of its value, reflecting strong supplier engagement.
Leading marketplaces achieve high GMV retention by offering suppliers tools, analytics, and regular platform updates to keep them engaged. Platforms like Markko make this easier by integrating GMV retention tracking into their analytics, helping you spot trends and address potential problems automatically.
Pair GMV retention with seller concentration monitoring to build a balanced, thriving marketplace.
12. Seller Concentration
While GMV retention tracks the value retained from sellers, seller concentration looks at how that value is spread across your vendor base. This metric helps identify risks and opportunities by showing whether your platform depends too much on a small group of sellers – something that can impact marketplace stability.
Why Seller Concentration Matters
Concentration Level | Description | Risk Level |
---|---|---|
High (>50%) | Top 10% dominate sales | High risk |
Moderate (30-50%) | Top 10% have a balanced share | Medium risk |
Low (<30%) | Sales are evenly distributed | Low risk |
A high seller concentration can create challenges for your platform:
Aspect | Impact |
---|---|
Platform Stability | At risk if key sellers leave |
Competition | Less price competition |
Customer Choice | Fewer product options |
Growth Potential | Limited ability to expand |
"For most marketplaces, maintaining a diverse seller base is crucial for long-term sustainability. When the top 10% of vendors account for more than 50% of total sales, it’s time to implement corrective measures." – Sharetribe Academy
Managing Concentration
Platforms like Markko provide tools to monitor seller distribution and track their contributions in real time. To keep a healthy balance:
- Regularly review seller contributions and address any imbalances.
- Set limits on how much individual sellers can contribute to total sales.
- Focus on recruiting sellers in underrepresented categories.
The goal is to support successful sellers while ensuring the platform remains stable by diversifying your vendor base. Monitoring seller concentration consistently helps create a more resilient marketplace.
13. Liquidity
Liquidity reflects how well your marketplace connects buyers and sellers, making transactions smooth and ensuring consistent sales. When liquidity is strong, users are more likely to stay engaged. On the other hand, weak liquidity can push both buyers and sellers to look elsewhere.
Measuring Marketplace Liquidity
Metric | Description | Target Indicator |
---|---|---|
Match Rate | Percentage of successful buyer-seller connections | High match percentage |
Time to Match | Time taken to complete transactions | Shorter times are better |
Sell-through Rate | Percentage of listed items that are sold | Higher rates show better liquidity |
Buyer-to-Seller Ratio | Balance between buyers and sellers | A ratio that suits your marketplace’s needs |
Impact on Platform Performance
Good liquidity speeds up transactions, stabilizes pricing, and keeps users coming back. If buyers can’t find what they need, they’ll leave. Similarly, sellers won’t stick around if their items don’t sell.
"The job of any marketplace is to facilitate the matching of supply with demand. It’s therefore important to measure your successful ‘match rate’ – the rate at which buyers can find sellers, and vice versa." – a16z, "13 Metrics for Marketplace Companies" [4]
Improving Liquidity
Platforms like Markko use modern tools to keep liquidity in check through strategies such as:
Strategy | Implementation |
---|---|
Data-Driven Optimization | Analyze transaction data and refine search tools to boost match rates |
Supply-Demand Balance | Prioritize popular categories and attract buyers with targeted campaigns |
Platform Improvements | Simplify search and matching processes to speed up transactions |
14. Unit Economics
Unit economics is a key metric for assessing the financial health of a marketplace. It measures the profitability of individual transactions, helping you understand if your business model can grow while staying profitable over time.
Core Components
Component | Description |
---|---|
Revenue per Transaction | Money earned from each sale |
Cost per Transaction | Expenses incurred for each sale |
Contribution Margin | Profit left after transaction costs |
The goal of unit economics is to determine whether each transaction adds to your bottom line. Metrics like CAC (Customer Acquisition Cost), CLV (Customer Lifetime Value), and Profit Per Transaction are essential for evaluating this. If your costs outweigh your revenue, it’s a clear sign that adjustments are needed.
Ways to Improve Unit Economics
Strategy | How to Apply |
---|---|
Cost Management | Use automation to cut down expenses |
Revenue Growth | Prioritize high-margin transactions |
Customer Value | Retain customers to boost lifetime value |
With modern analytics tools, businesses can fine-tune their unit economics by:
- Automating processes to reduce costs
- Concentrating on transactions that yield higher profits
- Implementing strategies to keep customers coming back
Unit economics also plays a big role in liquidity. Profitable transactions keep buyers and sellers engaged, ensuring the platform remains healthy and sustainable. By getting a handle on unit economics, marketplaces can align every transaction with their long-term growth goals while keeping costs in check.
Conclusion
Tracking the right metrics is crucial for marketplace success. The 14 metrics discussed in this article offer a solid framework for analyzing and improving marketplace performance.
Here’s how these metrics fit into key categories:
Metric Category | Examples |
---|---|
Growth Metrics | GMV, AOV, Traffic Sources |
User Metrics | Retention Rates, NPS, Response Time |
Financial Health | Unit Economics, CAC, Liquidity |
Platform Health | Seller Concentration, Return Rates |
Experts at a16z emphasize that measuring match rates and understanding transaction patterns is essential for thriving marketplaces [4]. These metrics address the specific challenges of multi-vendor platforms, helping to balance growth for both buyers and sellers.
Platforms like Markko make it easier to track these metrics by combining analytics with operational tools. This integration empowers marketplace owners to:
- Make data-driven improvements to growth strategies
- Enhance the experience for both buyers and sellers
- Scale efficiently while staying profitable
Analyzing metrics like GMV retention and unit economics together can uncover actionable insights for long-term growth. Regularly reviewing these numbers helps marketplaces adapt and stay competitive in an ever-changing digital environment.
FAQs
What are the most critical metrics for monitoring marketplace performance?
Here’s a breakdown of key metrics to keep an eye on when evaluating your marketplace’s performance:
Core Performance Metrics
Category | Key Metrics | Purpose |
---|---|---|
Financial Health | GMV, Net Revenue, Unit Economics | Assess growth and profitability |
User Dynamics | Retention Rates, CAC, CLTV | Measure user acquisition and engagement |
Platform Vitality | Liquidity, Match Rates | Gauge marketplace efficiency and balance |
These metrics can highlight areas to enhance seller retention, cut costs, and refine customer acquisition strategies. Tools like Markko offer built-in analytics to help marketplace operators:
- Track performance in real-time
- Analyze buyer and seller activity
- Make informed, data-driven decisions for growth
"By analyzing these metrics, businesses can identify strengths, weaknesses, and opportunities. For example, high GMV retention indicates a healthy supply side, while low customer retention may signal issues with user experience" [1][2].
Consistently reviewing these metrics ensures your marketplace stays competitive. Instead of focusing on isolated numbers, look for trends and patterns, and adjust your strategy based on those insights and industry standards.
Balancing growth with long-term stability is essential. These indicators act as a roadmap, helping you build a platform that meets the needs of both buyers and sellers effectively.