Facebook has rolled out what it terms as Marketplace, a platform for the users to purchase, sell and find items in their locality. The marketplace will be first officially launched in the U.S., U.K., Australia, and New Zealand to the users of Facebook who are of course 18+. According to project manager, Bowen Pan, Marketplace is an evolution of an existing behavior on the social network. Already Facebook is used by 450 million people to buy and sell used goods every month, mainly through its group’s feature. But with the onset of Marketplace, it will now provide the users a process to do these exchanges formally.
There is a trust factor with Facebook Marketplace that is absent in other buy/sell platforms like Craigslist, as your Facebook profile can be viewed by potential buyers. It is difficult for scammers to attack Marketplace than on Craigslist. Using this service is very simple; users will have to open the Facebook app. Once you tap the shop icon present at below, it will open up with images of items that people have posted for sale in your nearby locality. In this process, you can even filter the search to have particular results with the classification of cost, category, and area.
Facebook Marketplace Launch Video
If you wish to sell something, all you have to do is, take a picture of the product that you want to market, type in its name, description, authenticate your location, select a category, and post. The purchasing process is as easy for a customer as selling. From Marketplace simply send a direct message to the dealer and make an offer. And for the rest of the details, you can work out with the dealer after the contact is made. Mary Ku who is Facebook’s director of product management stated in news, “the company will not facilitate the payment or delivery of items in Marketplace.”
Already Facebook is allowing the users of Messenger to transfer payments; categorically the company said that it is not playing the role of a retailer or auction site: “You and the seller can work out the details in any way you choose. Facebook does not facilitate the payment or delivery of items in Marketplace.” That also indicates that Facebook will not alter the users for listings.
With the rolling out of Marketplace, Facebook is getting further immersed in e-commerce, its new user-to-user exchange for buying and selling goods with others in your community.
Users can go through the various sections of items and receive a list of listings that are nearby. Users can also search for an article and increase the range of their search to incorporate a long range. The location can also be altered by the users in order to search for items and products in other cities or regions. The motto of Facebook regarding Marketplace is to make it appear like a mobile-first initiative. Currently, no desktop feature is there; Pan states that it’s in the works. But at the very opening, concentrating on the smartphones can assist immensely in marketing, selling and searching method to make it look homey on a mobile app.
Example of Facebook Marketplace Ad
For Facebook, the area of ecommerce is a very productive place. In order to conduct transactions, the company does not intend on charging a fee. This decision provides Facebook and Marketplace an advantage compared to the competitors who provide these services. With the launch of Marketplace, it is highly likely that Facebook will be obtaining something that it has always been greatly seeking for: the precious attention of the users and the increasing number of hours spent by them on Facebook each and every day.
If the users begin to use the services provided by Marketplace, even if they use it only to search through the items which they do or do not require to purchase, this is yet one more method to keep the people attached to the mobile app of the company. This method can encourage earnings and revenues that come with advertising. Till July 2016, Facebook possesses more than 1 billion daily active users on mobile and it is from the users of smartphones that the company’s overall revenue had raised to 84 percent.
“We found that the vast majority of people just like to browse. They don’t have a specific item in mind. They are just…scrolling through the feed and seeing if there’s anything that might interest them. It mimics some of the offline shopping behavior of going to a Sunday market or to the mall. You might not know the items you want, but you’re open to seeing them.” Pan concluded.
Keeping in mind that it is very hard to make a new account with a fake name, it is hoped by the company that these snippets of information will perform as pointers of good faith.