The New Marketplace

Facebook is where people like to connect with new friends and keep up with old friends. Throughout the years, Facebook has offered many different forms of connection such as online games, gambling, advertising from business to customer, and now buying and selling. Ku says that more than 450 million people are active in buy and sell groups monthly (Ku, 2016). So, Facebook hopped onto that trend to offer an open place for anyone to buy and sell anything. Facebook Marketplace makes it so easy for users to find things they love or that they need. Marketplace has been continually improved over the years to get to where it is now. I have personally used Facebook Marketplace on multiple occasions and if someone on Marketplace is selling something that you are looking for, I would suggest you buy through them. Here is why.

It is so easy to explore. You simply tap the shop icon at the bottom center of the app. You will then see photos with descriptions of anything that is being sold near you. You can filter by selecting a specific category or narrowing/broadening your location preferences. Or even better, you just type in the specific product you are looking for. When you find what you want, you can click on the image to see info about the seller such as their profile, history of sales, price of the product, ad their general location. As the seller, all you must do is upload a photo and give it a description and a price and then people will start viewing. It is as simple as that.

Screen Shot 2018-02-04 at 10.44.33 PMIf you find something you like, you can send the seller a direct message saying that you are interested in that product. You then work out where you want to meet to make the exchange and for how much. Many people are good with bartering some with the prices, which is nice as the buyer.

Marketplace is currently thriving with over 550 million visitors monthly and 77% growth in number of conversations between buyer and seller last year. During the summer of 2017, the top the most popular categories in Marketplace were Furniture, Babies and Kids, and Women’s Clothing (Kohen, 2017).  This says a lot to me about who most users might be on Marketplace. My guess would be working women/mothers.

Facebook is hoping to release new ways for businesses to interact on Marketplace by offering categories for Jobs, Daily Deals, Tickets, and Shops. This way, businesses can interact with potential clients through a new avenue where the customer might not know about the offers otherwise. They are already connected to Marketplace, and now they can have even more options to search and learn about, opening a bridge from business to customer. Businesses will be able to increase awareness and discoverability through this new opening, build trust prior to customers purchasing, and more easily conduct market research to see what sells.

References:

Cohen, D. (2017, June 28). Is Facebook Marketplace Thriving? Retrieved February 04, 2018, from http://www.adweek.com/digital/facebook-marketplace-stats-june-2017/

Ku, M. (2016, October 3). Introducing Marketplace: Buy and Sell With Your Local Community. Retrieved February 04, 2018, from https://newsroom.fb.com/news/2016/10/introducing-marketplace-buy-and-sell-with-your-local-community/

Smith, B. (2017, October 17). 5 Unique Ways To Use Facebook Marketplace For Business. Retrieved February 04, 2018, from https://adespresso.com/blog/facebook-marketplace/

What Happened When I Made 6 Offers on Facebook Marketplace. (2017, February 07). Retrieved February 04, 2018, from https://www.askty.com/facebook-marketplace/

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3 thoughts on “The New Marketplace

  1. This is a very good blog. You did a good job explains facebook and what facebook marketplace is, and how someone could use facebook marketplace. I didn’t realize that facebook marketplace has over 550 million visitors a month. Also good sources

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  2. Great post. I am not too familiar with Facebook Marketplace so I really enjoyed reading about it on your blog. Facebook has truly out done itself that you can now buy products. Its so awesome that they’re even trying to further that with jobs and other resources. Thanks for sharing!

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  3. Facebook Marketplace is a crazy place. There are so many different items and services that can be bought. It’s cool that it’s kind of a one-stop shop. One thing that gets me though, is that you really don’t know who is selling the item. It’s kind of like the whole Craigslist kill thing. That’s probably just me being a little paranoid though.

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