Everything you need to know about Facebook Marketplace – It seems like social networking wasn’t enough for Facebook to keep those 1.71 Billion users engaged enough. The company has recently announced an extension to its business model with the introduction of Facebook Marketplace.
What is Facebook Marketplace?
Just like eBay and Gumtree, Facebook has extended its business model to include an online marketplace feature which lets you discover, buy, and sell items to the people in your area/community. The platform is similar to eBay but with an added touch of ‘Social-ness’. You get to chat with the other party over Facebook messenger and also have an access to their Facebook profile.
How it all started?
It all started in February 2015 when Facebook introduced buy and sell groups which let users add items for sale in such groups which included adding a description of the product, setting up a price and set a pick-up or delivery location.
Why Facebook Marketplace?
Looks like the current user data information available to Facebook isn’t enough to carry on its revenue generation through ads. It wants advertisements to be more targeted.
How will marketplace help Facebook in better revenue generation?
Well, this new feature will certainly result in users spending more time on Facebook (Ebay’s userbase has been poached), posting about what they want to sell (because they’ve already bought or going to buy that item soon), looking for things to buy (they can buy that item from Facebook’s advertiser too, if it’s affordable) and chat with the strangers (more use of Facebook messenger).
There are already around 450 million users in buy and sell groups. Hence, this is a tried and tested option to roll out.
These groups were privately owned and were so diverse that Facebook didn’t have much control over the sale offers posted. Some of the products posted (like guns, drugs, etc.) violated the website’s new policies. Marketplace, which will act as a common place to buy sell goods, will also help Facebook keeping a check on such products
Is Facebook Marketplace Better than eBay?
Yes. Facebook may turn out to be a better marketplace than eBay as unlike eBay, which is a typical marketplace, Facebook has positioned itself as a Social Marketplace where you can not just see the seller’s profile but can see the mutual friends you have (in case you want to inquire about him) and can also chat with him using Facebook messenger.
But, unlike eBay, Facebook does not facilitate the payment or delivery of items in Marketplace. There is also no comments or review feature on the marketplace yet.
Few More Details about FB Marketplace.
- It will be available to everyone over 18 years of age.
- Currently launched in four countries (US, UK, Australia, and New Zealand)
- Currently available for iPhone and Android and not on windows or desktop version of Facebook.
- Facebook does not facilitate the payment or delivery of items in Marketplace. You and the other party get to decide it on your own.
How To Remove Marketplace From Facebook App?
Facebook marketplace is a permanent feature in the Facebook application and unfortunately, you can’t remove or disable the Facebook Marketplace feature from the Facebook application yet. We’ll update this section as soon as we find any information from Facebook about removing Facebook Marketplace from Facebook App.
When a sold listing is “Under Review”, it means the buyer’s payment is being reviewed. There’s nothing you, as a seller, have to do.
Rest assured, our system and Support will take care of all verification. If the payment is approved, then the order will be released. If the payment is rejected, then Gameflip will automatically list your item back to the marketplace.
In extreme cases, “Under Review” statuses can take up to 3 days in extreme cases to be lifted, but the usual is few hours. Please allow enough time for the review to be concluded.
Go On, Tell Us What You Think!
Did we miss something? Come on! Tell us what you think of this article on Facebook Marketplace in the comment section.