Facebook launched a new online “Marketplace” which allows its members to buy and sell among the huge social network. The feature will be rolling out this week on Facebook app for iOS and Android in countries like US, Britain, Australia, and New Zealand. This also formalizes what the people have been doing on Facebook since a long time.
This put Facebook in direct competition with other local online selling platforms which is currently lead by Craigslist and also offers an alternative to marketplace like eBay. As per the product manger people have been using Facebook to connect with other in other ways as well that is to buy and sell. This was mainly through groups feature. This activity has shown a substantial growth with more than 450 million people visiting these buy and sell groups every month.
The new feature enables people to access a convenient to buy and sell items in their vicinity. Marketplace will display photos of the products for sale based on closeness .Users can change the location and conduct search for specific items or a particular category as well. The icon of the market place will be at the center of the bottom row on the Facebook App. On clicking this button user will be directed to homepage of items that they will be interested in according to Facebook . This happens on the basis of pages user has liked, and after that viewing history, buying or selling activity. There is no Desktop version of the feature as of now.
Facebook also mentioned that E-commerce is a fertile ground for them. They do not plan to charge any fee to conduct these transactions which according to them will give a competitive edge over others. This feature give them more user eyeballs and time they spend on Facebook.
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From ITvoir News Desk