E-commerce is all the craze. Internet shopping sites such as Amazon, Craigslist, eBay and 2-year-old Facebook Marketplace allow consumers to purchase just about any product or service imaginable.
Since the launch of Facebook Marketplace in 2016, it is now used in 70 countries by over 800 million people monthly. The marketplace focuses on allowing people to buy and sell goods within their community. Whether you have a used car, a piece of furniture or an embroidery business, Facebook Marketplace allows people to sell, buy, communicate and interact with each other on one platform.
So, what is the difference between using Facebook Marketplace versus using a site like Craigslist?
- Marketplace can create listings on your phone with the Facebook App. Craigslist does not have an app so you have to create listings on a desktop. It also allows for you to easily find the location of the item you want to purchase.
- Would you rather send a chat or an email? Marketplace uses Facebook Messenger to directly communicate with buyers and sellers while Craigslist gives out your personal phone number and email address.
- Facebook has been cracking down on safety and privacy. The marketplace allows you to see pieces of what is on the interested party’s profile so it is not completely anonymous like Craigslist.
Now that the Marketplace has been around for two years, Facebook decided to add a few new features to help make it easier and more effective to use with AI technology. According to Facebook Newsroom, the AI features will help sellers by offering price range suggestions and auto-categorization. Both of these features allow for sellers to have a better chance of selling their item under a quality price range and proper category. They are also testing a camera feature where interested buyers could snap a photo of an item while using the app to see if there is a similar item available for purchase on Marketplace.
These new features, along with best practices for creating a safe and trusted community shopping space, are allowing Facebook to be more marketable not just on a social level, but also on a purchasing level. It will be interesting to see where Facebook goes next as the world of e-commerce continue to evolve.