Facebook’s tremendous growth over the years as a social media hub is a success story that is worthy of shock and appreciation. But does the website’s latest release of ‘Marketplace’ really have what it takes to put websites like Quikr and OLX out of business?
1 Having a firm hand on the largest social network wasn’t enough. So now the website threw its hat in the ring of online trading.
2 What is Facebook marketplace?
Facebook isn’t getting any younger. Its founders are well aware of this fact. Having more than 500 million people is just one part of the process. But keeping these accounts happy and creating an attractive atmosphere for the future users becomes an issue.
Facebook called it a ‘local market’ where users can buy, sell or just browse through items shared by others. Much like a peer to peer format, users can search for appliances, accessories, antiques and clothing. What’s even more amazing is that Facebook will directly link you to buyers and sellers in your region.
Although a little late to the P2P market scene, the company has already added features like an instant “Buy” button to help buyers.
It has been implemented in four countries and will be available to users above 18 in the US, UK, Australia, and New Zealand. A desktop version too is being developed.
3 How to Use Facebook Marketplace?
Simply take a photo of what you wish to sell. Add it from your camera roll. Enter a product name, description along with the price. The website promises quick responses once you confirm a location and category.
4 The Possible End of Rival Trading Websites.
There’s no denying that Facebook’s master plan is bound to be successful, taking into account the thriving numbers of its users in the whole world. But a more important question comes into the picture.
Could this be the end of the ‘OLX pe Bechde’ era? Or even the end of Quikr for that fact. Facebook’s role ends in connecting sellers and buyers, leaving details like price and money collection to the users. A move that closely mimics websites like Craigslist but without the security offered by eBay.
It has taken use of a potential market in India by connecting people who are mad about Facebook to those mad about online shopping.
While websites like OLX and Quikr suffer from the lack of background checks between traders, little can be said as to whether people would still prefer using them.
Another issue is of guarantees and assurances that such companies give both ends, which ultimately gives them a competitive edge.
Both companies have been in the game for a long time but have a long road to trail to reach such popularity. However, seeing the addiction that people share for Facebook, the future of other classifieds businesses still remains doubtful.