Procurement · 7 October 2016

Facebook strides further into ecommerce with new marketplace tool

Facebook
Facebook Marketplace users will be able to filter nearby goods by location, category or price.
Facebook has taken whatcould be an important step further into ecommerce with the launch of Facebook Marketplace.

The new tool formalises the process by which Facebook users can buy, sell and negotiate for items online.

Using Facebook’s popular Messenger app, users will be able to arrange a deal for nearby items, and can filter goods by location, category or price.

The tool is expected to be used predominantly to carry out personal transactions amongst individuals, such as friends and family, rivalling classified advertising platforms like Gumtree or Craigslist.

Similar to these sites, Facebook Marketplace will not process payments, simply letting users list the items they want to sell and reach a wider range of potential customers.

It is not yet known whether Facebook Marketplace will prove useful for merchants and sellers with larger inventories, who may be more likely to use online marketplaces like eBay.

well continue to build new options and features to make this the best experience for people, Facebook’s director of product management, Mary Ku, confirmed in a statement.

more than 450 million people visit buy and sell groups each month [on Facebook] from families in a local neighbourhood to collectors around the world. Were introducing Marketplace to help people make more of these connections.

The launch of Facebook Marketplace follows three other tools recently rolled out by the online giant designed to make it easier for small business owners to connect with customers.

In September, Facebook introduced region-specific ad campaigns, enabling small business users to tailor advertising to certain new markets, whilst also bringing out free online international marketing guides.

Facebook’s Lookalike Audiences feature enables the upload of high-potential leads lists, making it easier for business owners to target new overseas customers similar to their existing UK clients.


 
TAGS:

ABOUT THE EXPERT

Fred Heritage was previously deputy editor at Business Advice. He has a BA in politics and international relations from the University of Kent and an MA in international conflict from Kings College London.

High Streets Initiative