A peer-to-peer or P2P marketplace is an online platform that connects people in need of a product temporarily with people who have that product, but are not using it. Through a P2P marketplace, people can rent out a product in exchange of money or a similar product only for the time they need it. Today, there are P2P marketplaces for renting homes, cars, bikes, spots gears, music gears, etc.
Collectively, these P2P marketplaces are part of Sharing Economy, which emphasize optimum use of resources through collaborative consumption and re-usability.
Rise of Sharing Economy & Why Startups Are Loving It
Subject : E-Commerce
Disclaimer: The term explained above has been compiled with consideration and care after consulting multiple sources. Despite our continuing efforts, we advise- the readers should not take decisions completely based on the information shared by FATbit on its glossary section.