Square Introduces Square Market, Online Marketplace for Businesses

If you’re in retail, you are no stranger to Square. If you have a business in general, it’s likely you’re no stranger to Square. But now Square wants to get the attention of consumers, as well, with their launch of Square Market.

On June 26, 2013, Square introduced Square Market – an online marketplace for businesses to sell everything from beauty services to jewelry to artisan made housewares. Their goal? To offer locally owned businesses nationwide the ability to sell products throughout the country to anyone, anywhere.

Business users of Square will have the ability to reach more customers if they choose to set up in Square Market – extending their demographics and hopefully, sales. Ajit Varma, Square’s Director of Discover, explains that Square is “focused on making  easy-to-use tools for merchants that create an incredible experience for their customers – no matter where they are. Creating an online marketplace is our next step in making commerce easy for everyone.”

One of Square’s other objectives in their recently launched market is to allow sellers to avoid the expense of website development and maintenance. Square Market enables users of Square to open a store for free with items, photos, and a profile for their business. So just how will Square make money? They will gain 2.75% per item sold, with no charge to list items on Square Market.

With mobile buying, e-commerce growth and demands for immediate satisfaction all increasingly growing among consumers, Square just may be onto something… or maybe not. We have to consider the many other e-commerce sites that already exist for consumers, and wonder how Square Market will fit in. While their is always a niche to fill when supporting locally owned businesses, we’re curious what you think regarding Square’s attempt to saturate this market. Indies, consumers, designers… whomever… let us know. Please comment below.