Facebook Marketplace is a platform on Facebook that allows users to buy and sell goods around the world from the USA to Canada Online. Facebook added an extension to its business model by introducing Facebook Marketplace. A digital marketplace features where users are allowed to buy, sell, and trade items with other people in their locality.
Prior to this, Facebook introduced buy and sell groups which let users add products for sale, description of the products, price and the delivery method or location. According to Facebook statistics, there are 450 million active users who do that each month and over the years, the Facebook market place users boost to 800 million people around the world.
Facebook Marketplace has advanced into a platform for businesses, entrepreneur to rake in profit on a daily basis. 1.62 billion users visit Facebook daily while 74℅ of Facebook user are high-income earner, vendors use ads to drive in more traffic and also get creative with their shop to get more customers.
Facebook Marketplace basic requirements
*You should be at least 18 years of age according to Facebook policy
- New users are generally are not allowed to use the feature
- You have to be in a location where Marketplace is available for Facebook user.
- Be sure you haven’t gone against any of Facebook
Facebook Marketplace Categories
These categories allowed users to filter their needs
Clothing & Accessories.
Home & Garden.
Pros of Facebook Marketplace
Since the evolvement of the Facebook marketplace to the limelight, it has solved many difficulties vendors are facing in the process of selling their commodities to the multitudes compare to other platforms.
One of the amazing benefits of using Facebook Marketplace is that it is available for free. Facebook Marketplace allows you to do your product listing without paying a dime, they neither cut out of your sales nor charge buyers to access the market. The Facebook market place is 100℅ free.
As said earlier, 800 million people around the world access Facebook marketplace every month which will no doubt expand the awareness for your brands. Selling on the platform will help you reach millions of potential buyers.
Reaching out to the potential consumer is quite simple, you can interact directly with the buyers via Facebook messenger. The Facebook marketplace features also allow you to place ads even without listing your products directly on the Facebook shop.
Cons of Facebook Marketplace.
On the flip side of the opportunity, Facebook Marketplace has flaws which as serve as a major setback in some aspects of the whole process of buying and selling. Over time Facebook has faced some challenges such as;
Scammers operating under multiple accounts. At the end of 2019, of 2.23 billion monthly active users Facebook totalled duplicate accounts represented virtually 11% of the site’s, while counterfeit accounts made up 5%, totalling more than 100 million profiles.
Sellers claim it’s quite difficult dealing with customers on Facebook; they negotiate unreasonably, retract order, delay appointment and many more. While some seller display stolen or fake items for sale. Some also go against Facebook Policy by listing items that are forbidden such as Guns, Animal, abstract thing and so on.