Digital marketplaces are sites that provide online transaction facilities for their customers. As such, business transactions can be done anytime and anywhere between sellers and buyers through digital platforms, making them very flexible compared to physical stores or traditional marketplaces. Digital marketplaces are not new as they were among earlier e-commerce business models introduced in the 1990s, such as eBay and Amazon. However, local digital marketplace platforms are relatively new in Brunei Darussalam, as most such platforms started only a few years ago, although Bruneians are used to buying products from well-known global platforms. Several reasons have caused the emergence of local digital marketplace platforms, such as the very high internet penetration, the limitations of social media in supporting business transactions, the experience in making transactions using global digital marketplaces, the impact of the COVID-19 pandemic which forced people to conduct online transactions to avoid physical contact and the availability of digital technology for setting up platforms. This chapter discusses Brunei’s digital marketplace. It examines theories of the digital marketplace, such as transaction cost economics and multisided markets. Four examples of Brunei’s digital marketplace are analysed—Al-Huffaz Management, Babakimpo, Naindah and Super Squad Soccer—and opportunities and challenges for them to survive and grow are discussed.

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Challenges and Opportunities of Digital Marketplaces in Brunei Darussalam

  • Mohammad Nabil Almunawar,
  • Mohammad Alif Azizi Abdullah

摘要

Digital marketplaces are sites that provide online transaction facilities for their customers. As such, business transactions can be done anytime and anywhere between sellers and buyers through digital platforms, making them very flexible compared to physical stores or traditional marketplaces. Digital marketplaces are not new as they were among earlier e-commerce business models introduced in the 1990s, such as eBay and Amazon. However, local digital marketplace platforms are relatively new in Brunei Darussalam, as most such platforms started only a few years ago, although Bruneians are used to buying products from well-known global platforms. Several reasons have caused the emergence of local digital marketplace platforms, such as the very high internet penetration, the limitations of social media in supporting business transactions, the experience in making transactions using global digital marketplaces, the impact of the COVID-19 pandemic which forced people to conduct online transactions to avoid physical contact and the availability of digital technology for setting up platforms. This chapter discusses Brunei’s digital marketplace. It examines theories of the digital marketplace, such as transaction cost economics and multisided markets. Four examples of Brunei’s digital marketplace are analysed—Al-Huffaz Management, Babakimpo, Naindah and Super Squad Soccer—and opportunities and challenges for them to survive and grow are discussed.