Making Digital Marketplaces Fairer

What is it about?

Due to the expansion of digital transaction in the work market, some serious challenges are created by which consumers are now often cheated and becoming the victims. Therefore, question has been raised from different corners regarding the fraud, deception, and sufferings of the innocent consumers all over the world through online transactions in digital marketplace. Hence, this study deals with the ways to make the digital markets fairer.

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Why is it important?

The expansion of this market is due to the consumer’s choice between a digital and a physical transaction which is governed by the (i) benefits of examining a good in person, (ii) the relative hassle costs between search online and offline, (iii) the benefit of instant product availability, (iv) differences in assortment, and (v) the barriers of regulations. In a world where digital devices are ubiquitous, transactions with not-in-person component, such as flight or hotel purchases, will naturally take place digitally. On the other hand, purchases like furniture, where examining goods in person is valuable that is impossible to check through online. The growth in digital transactions can be driven by innovation spurred by competition between the marketplaces. Digital marketplace also increases the competitiveness of peer sellers and enhances the assortment of options available to the consumers. Now, millions of consumers are involved around the world with these opportunities due to the rapid growth of internet, mobile phones and other digital technologies. Hence, this is an important study especially for the customers.

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