Facebook Marketplace goes live, providing buyers and sellers in local communities with an alternative to sites like Craigslist…
About 450 million users already visit “buy and sell” groups on the world’s largest social media platform. Now, Facebook Marketplace will provide a dedicated space for local communities to buy and sell items.
Facebook Marketplace Debuts
Starting today in the United States, United Kingdom, Australia, and New Zealand, Facebook is introducing an entire tab in its mobile app to Marketplace. Though only available in four countries, if the feature proves popular, it could roll out to other countries or globally.
“Marketplace makes it easy to find new things you’ll love, and find a new home for the things you’re ready to part with. We’ll continue to build new options and features to make this the best experience for people,” the company wrote on its official blog.
Conspicuous by its absence is the lack of a two-way rating system between buyers and sellers. This helps to discourage spam, as well as fraud. Also missing is a native payment system, instead, Marketplace relies on Messenger ad-hoc payments.
Yet another missing component is Pages, which are currently prohibited. However, if Marketplace generates enough traffic and transactions, Facebook could move to monetize the space with ads.
Facebook Marketplace includes three main features: Browse to Buy, Sell Your Stuff, and Search Your Surroundings. Each one designed to simplify the buying and selling process.
Recently, Facebook introduced new retailer measurement tools and ad options to provide companies with more data and targeting features. Marketplace could well prove a smart move as more local advertisers turn to Facebook while continually shying away from legacy media, such as television, radio, and print.
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