Is Facebook looking to add full-on classifieds to their offering? By the looks of their latest product launch the social media leviathan may be looking to faceoff with eBay, Craigslist and others in the market.
With the official launch of Facebook Marketplace, users can now list items for sale or search a particular area for items they are looking for. The smartphone version will be available in the next few days with a desktop version in the coming months.
Facebook’s logic on the move is simple: “More than 450 million people visit buy and sell groups each month — from families in a local neighborhood to collectors around the world.”
So why not organize it?
Currently eBay dominates the market segment, selling more than $20bn worth of merchandise in 2015, say their financial reports. Interestingly much of that comes from large-volume sellers, rather than individuals.
According to the Guardian:
[su_quote]In the US, Facebook Marketplace will be taking on Craigslist, the classified ads site founded in 1995 and widely credited with destroying the market for newspaper classified advertising. Craigslist records 50bn worldwide page views and 80m classified ads per month – though because sales are between individuals and their results are unreported it is impossible to know how many of the ads are successful.[/su_quote]
Here is Facebook’s pitch for Marketplace from their site:
Discover Items for Sale Near You
Marketplace opens with photos of items that people near you have listed for sale. To find something specific, search at the top and filter your results by location, category or price. You can also browse what’s available in a variety of categories such as Household, Electronics and Apparel. Use the built-in location tool to adjust the region you’re looking in, or switch to a different city altogether.
When you find something interesting, tap on the image to see more details from the seller, including a product description, the name and profile photo of the seller, and their general location. You can also save the item to find it later.
Decided that you want it? Send the seller a direct message from Marketplace to tell them you’re interested and make an offer. From that point on, 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.
