Facebook Market Place has acquired a very prominent position in the local buy sell community and over the last couple of years, it has really evolved and matured. In this scenario what are the aspects of the Facebook marketplace one has to prepare for?
Based on the current features following are the predictions:
Facebook Payments:
It appears that Facebook will one day make the payment gateway enabled for most listings and all transactions will be via the Facebook payment gateway. With this feature, you might be able to fight your friend's local items from their area. As long as it's not forcefully enabled for all listings it may be a good addition to the evolution of Facebook Marketplace.
Facebook Shipping:
Today Facebook has very limited support for shipping eventually it might start expanding and all items might one day qualify for shipping barring certain exceptions of course. This will be a sort of competition for eBay and Amazon.
Facebook Market Place Ratings:
Ratings have been in existence for many months now and it does help in building confidence when buyers are looking for products. Facebook might at one point allow users to filter and sort products based on sellers ratings and give respectfully committed sellers better opportunities compared to rude disrespectful sellers.
Facebook has disabled or made buyers ratings private which I believe is a little harsh on sellers and maybe one-day buyers ratings will be reintroduced as sellers might be able to choose the best buyers in multiple offer situations.
Facebook Advertising (Boost):
Facebook Boost has been there for a long time but it could also happen that users will have to rely on Facebook target audiences tools and advertising to get good results and free listings might start going down in priority when buyers are searching for the items.
Overall it appears that the Facebook Marketplace is in for a long haul and it will be creating new opportunities for buyers and sellers and also open new horizons for small businesses with very limited resources. It has the potential of becoming the market disruptor in buying selling products and services.
The biggest concern I have is a monopoly.
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