The marketplace is the place where the product is sold or purchased by the customer. In a few years’ backs, we used to go into the market and buy the product. But nowadays there are so some Online marketplace like e-Bay, Olx, Quikr etc. where a product can be sale or purchase. Facebook has relaunch its marketplace called Facebook Marketplace.
What is the Facebook Marketplace?
The Facebook marketplace is the online marketplace where you can buy or sell your products within your region.
Features of Facebook Marketplace-
1. It is free to use. You can post as many posts you can.
2. In the Facebook marketplace, you can able to sell new or used products.
3. You can able to track and bid for your product.
4. You can post photos of the product which gives the idea of the product. For instance, If somebody posting ads of clothing; then it should be understood by seeing the actual picture of the product.
5. It is easy to use. By following some steps you can easily create an ad.
6. You can shop or sell by category
7. You can shop by category and demographics.
The Facebook marketplace is very helpful for the for small-scale businesses. If you don’t have an e-commerce website then you can able sell your product on this platform.
Facebook is a very effective platform because everybody is on Facebook. Facebook is familiar to everyone. Facebook shows the ad to your nearby region. You can choose the specific radius from a place in which you have to show the ads.
The Facebook marketplace is viewed by 550 million users every month. It is quite high with the other marketplaces. It is shown that how significant is this for “Buy-and-Sell”.
Facebook is the medium through which a buyer and seller can bid for a product. Facebook is not responsible for the cost, quality of the product, and the medium through which the transaction of money should happen. So, it might happen that the actual product may differ from the ad. Sometimes the actual price may be varied at the time of purchase. You might be observed that, so many ads put the price very less like ₹ 1. Ideally, it won’t happen.
Facebook has strict in terms and conditions where they don’t allow to sell harmful products like Drugs, Weapons, Animals, Counterfeits and similar kind of intellectual property. Be loyal with Facebook otherwise, they may block your ads.
Well, the Facebook marketplace is growing online marketplace platform. It will take time to reach users. But there are some drawbacks like the Security. Nowadays the Facebook account was hacked by the hackers in which they steal the user’s private data. They may hack the private chat happen between the buyer and seller. And this may be cause for lowering the trust towards the Facebook. They have to assure that the information shared among the people on Facebook will be safe. Facebook has to be more strict with counterfeits product and price. We hope they come with the update in terms of security.