Facebook Marketplace is an integrated digital platform within Facebook where users can buy and sell items locally or nationwide. Launched in October 2016, it has grown from a basic local classifieds service into a major commerce ecosystem that rivals platforms like Gumtree and eBay.
Key Features:
- Search & Browse: Users can search for items, filter by category or location, and browse listings.
- Create Listings: Sellers can add photos, videos, and detailed descriptions of items.
- Shipping & Payments: Facebook facilitates payments and shipping for non-local sales, charging a selling fee and providing buyer protection.
- Direct Messaging: Buyers and sellers communicate directly to negotiate and arrange transactions.
- Account Management: Users can track listings, sales, and messages.
- Augmented Reality (AR): Some items can be previewed using AR before buying.
- Local Pickup: For local transactions, Facebook does not handle payment or charge fees.
Business Integration:
- Businesses can list product catalogues and reach a large audience by connecting their Facebook Shop to Marketplace.
- All products must comply with Facebook’s commerce policies.
- Sellers must now provide their own shipping labels and tracking, as Facebook no longer supplies prepaid labels.
Fees:
- For shipped items, Facebook charges a 10% selling fee (minimum $0.80), plus an extra 2% transaction fee in the UK.
Growth and Impact:
- Marketplace is available in many countries on both desktop and mobile.
- Over 850 million visits per month; about 16% of all Facebook users use Marketplace.
- The platform has implemented stronger safety features and centralized buy/sell activity, allowing Facebook to better manage and profit from commerce.
- Marketplace is a key part of Meta’s strategy to grow its commerce ecosystem using AI and advanced measurement tools.
In summary: Facebook Marketplace has evolved into a powerful buying and selling platform for both individuals and businesses, offering a robust set of tools and reaching a vast global audience.