Facebook just launched a new feature called “Marketplace”, a convenient way for buyers or sellers to exchange items locally. It is only available to people in the US, UK, Australia, and New Zealand through iPhone and Android apps. The Marketplace is expected to compete with rival sites – eBay and Craigslist.  Facebook will expand this feature to additional markets as well as desktop devices in the next upcoming months.

Here are some quick facts you need to know:

To Access the Market Place:

  • To get to marketplace, tap on the shopping cart at the bottom of your Facebook App.

To Discover Items for Sale in Your Area:

  • Browse and search for items on sale by category and location
  • Filter search results by location, category, or price
  • Send a personal message to sellers directly from the Marketplace

To Post Items for Sale in 4 Easy Steps:

  • Take a photo of your item or add it from your camera roll
  • Enter a product name, description and price
  • Confirm your location and select a category
  • Post

To Manage What’s In Your Marketplace:

  • Review current and past transactions
  • View saved items, products you’ve posted for sale, and personal messages with others in the Marketplace

Multibrain’s Takeaway: This is a huge step in the way people will use Facebook. No longer is it purely a way to communicate with close friends or relatives, we are seeing a continuous shift in Facebook in terms of  expanding its offerings to facilitate communication, advertising, and transactions for businesses.  It won’t be surprising to see more and more entrepreneurs or consultants utilizing the tool to expand their customer base and reach. We’re excited to see how things unfold!

Source: http://newsroom.fb.com/news/2016/10/introducing-marketplace-buy-and-sell-with-your-local-community/