Facebook Marketplace

Facebook Marketplace Joins eCommerce Race

FFacebookacebook, one of the social media giants, recently launched their own version of a Marketplace – a place where people can buy and sell within their community.

That makes everything easier for sellers and buyers, as there will be no need to open another e-commerce site; the products are viewable in your News Feeds.

Marketplace is slowly rolling out across the Facebook platform. It is currently available to people above 18 years old in the U.S., United Kingdom, Australia, and New Zealand through their Facebook App using either Apple or Android.

In the coming months, Facebook aims to release a desktop version of it too.

The Marketplace Yesterday

As eCommerce has been steadily growing in the past years, Facebook took notice of it and launched Marketplace back in 2007, however, it was quickly discontinued, perhaps being a little too early for what their audience was ready for.

Up until before Marketplace’s release, most people on Facebook would set up Pages if not Groups where all the marketing, trading, and buying and selling happens.

That is what exactly gave birth to a formalised Marketplace.

What Sellers Can Do

Sellers and buyers on the Facebook Marketplace can do the following:Facebook Marketplace

  • Find an item by browsing the categories or searching a certain location
  • View the items for sale, which include the seller’s profile for added credibility
  • Message a seller via Facebook Messenger app
  • Make an offer
  • Arrange for payment, shipping, meetup, or pickup
  • Save your past searches
  • Share posts on Facebook
  • To access it tap the shop icon at the bottom part of the application.

The Now For eCommerce

It is quite plausible that Facebook sees a potential growing eCommerce market within the social media app itself as more and more people get addicted to their smartphones.

Furthermore, it was proven by research that at least 450 million users are using Facebook as a platform to sell their products.

If it continues with this thrust, the Facebook Marketplace is likely to move ahead of its competitors in the e-commerce race in due course.

Expected Revisions to the Marketplace

There are several areas of improvements seen within the Marketplace following its launch on the 3rd of October.

Although it currently caters only to C2C (Consumer-To-Consumer), Marketplace can potentially expand to B2C (Business-To-Consumer), if not B2B (Business-To-Business), in the near future depending on how much it evolves in the coming years.

Marketplace has yet to allow buyers and sellers to rate each other – a crucial part in building one’s credibility.

Also, it doesn’t have payment provisions as of yet.

Transactions start either on Messenger or in the comments – where the haggling takes place – and end with either the shipping of the items or meeting up in person.

It will be interesting to see how the Facebook Marketplace evolves over time, as if there is any company with the ability to make a quick entry into the eCommerce Marketplace arena then Facebook is certainly one of them.

What are your thoughts on the Facebook Marketplace?  Can you see it taking off, or should they stick to being a social network?

Let us know down below,

Dave

4 replies
    • Dave Furness
      Dave Furness says:

      I know right Marko!

      The interesting thing is they have over a Billion active users a month, so this could potentially be huge connecting ecommerce to that sort of audience. Definitely one to keep an eye on.

      Dave

      Reply

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