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Facebook is digitalizing garage sales with its new “Marketplace”

Business

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Facebook’s new “Marketplace” will allow people to discover, buy, and sell products from one another. It will have a dedicated icon within the Facebook mobile app, and if the new product resonates well with people, we could see Pages and businesses selling items on there too.

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According to Facebook, “more than 450 million people visit buy and sell groups each month.” This is the inspiration for their newest feature called “Marketplace” allowing people to buy and sell directly from each other.

The new feature will have a dedicated icon at the bottom of the Facebook mobile app, where users can easily discover, buy, and sell items with nearby people. Eventually, it looks like Pages and businesses will be allowed to sell via Marketplace…

Marketplace product manager Bowen Pan said, “While there’s no Pages allowed on Marketplace right now, Facebook could one day generate ad revenue if it let businesses or people buy News Feed ads or sponsored placement for what they’re selling. After we’re confident we’ve built out a great product experience for people, we’ll look into introducing businesses if it makes sense, and after that we’ll look at how we could potentially monetize the surface,” (via TechCrunch).

Within Marketplace, you’ll be able to manage and organize your transactions, view the “Your Items” section, and monitor the products you’ve posted for sale, on top of the messages you send and receive with people on either the buying or selling end.

Facebook created a launch video for Marketplace, which you can watch below. Happy selling!

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