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How Does Marketplace On FB Work?

You Can Use Facebook To Buy And Sell Items. So, How Does Marketplace On FB Work? Let Us Find Out In This Article.

By Actual SimplePublished about a year ago 3 min read
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How Does Marketplace On FB Work? - ActualSimple.com

You all know Facebook as a massive social media platform. It is where people connect, share content, and interact online. It is one of the pioneers of social media platforms that revolutionized the way you use the internet now. Apart from connecting with people, the users did find some interesting usage of this platform as well. People started running their businesses using Facebook. You can see a wide list of Facebook pages and communities promoting a particular product and service. This is where people would interact, buy, and sell certain products using this platform. Now, this method is too unstructured as Facebook did not support a business feature and everything was done manually by users. This is where Facebook introduced the “marketplace”. So, how does marketplace on FB work?

Source: https://actualsimple.com/how-does-marketplace-on-fb-work/

What Is Facebook Marketplace?

As Facebook users started using the platform to buy and sell things, the company aimed to introduce this feature from their end. The marketplace is a Facebook feature where users can search, buy, and sell things within their community. It is a shopping platform for users. Earlier, the structure of buying and selling was manual through pages and groups. The marketplace provides a convenient way to shop through the platform.

To open the Facebook marketplace, go to the top-right corner to open your menu. There you will find the Marketplace tab. Click on it and it will open for you.

Source: https://actualsimple.com/how-does-marketplace-on-fb-work/

Once you open the marketplace, you will see images of the items available for purchase. You can either scroll and find the item you are looking for. Or you can use the filters and create a more specific search as per your needs. You can use the category of the products, the location, and much more.

Source: https://actualsimple.com/how-does-marketplace-on-fb-work/

How Does Marketplace On FB Work?

The Facebook marketplace primarily works using three basic operations. The operations are buying, selling, and payments. Let us understand how each function is performed.

How To Start Selling On Facebook Marketplace?

  1. Tap the top-right menu.
  2. Tap Marketplace.
  3. Tap on Sell at the top.
  4. You have to add a title and price.
  5. Then select a category for your product.
  6. Add photos to include photos from your phone or take a new photo.
  7. Tap Publish to publish your Marketplace listing.

How To Start Buying On Facebook Marketplace?

  1. Tap the top-right menu.
  2. Tap Marketplace.
  3. Click on an item you want to buy.
  4. Now, you need to connect with the item owner. You can do this in two ways.

a. Click Message to send a custom message to the seller.

b. Click Send to send a message that says “Is this available?”

What Is The Payment Method For Facebook Marketplace?

The Facebook marketplace does not provide its own payment gateway. It is only a marketplace to connect buyers and sellers in an efficient manner. Once you get connected to the other person (buyer or seller), the payment method is what your country supports. The payment has to be a third-party payment gateway the seller mentioned. So, suppose you are trying to buy an item. You send a message and connect with the owner. Once the deal is confirmed, your payment is to be done through the payment options allowed by the owner. Moreover, the payment options can vary as per the country you use the Facebook marketplace.

How Does The Facebook Marketplace Make Money?

As the Facebook marketplace is connecting buyers and sellers, how does the marketplace makes money? In some countries, the Facebook marketplace does provide Meta pay for payments and may earn through it.

The other earnings are through its selling fees. When you make a sale, Facebook would deduct a fee from your payout automatically. This is called a selling fee. The selling fee is 5% per shipment or a flat fee of $0.40 for shipments of $8.00 or less. You keep the rest of your earnings. The selling fees include a bunch of expenses. It includes taxes and the cost of payment processing.

However, one more source of earnings for the Facebook marketplace is advertising.

As a user, you would want to highlight certain items of yours to other buyers. This helps to attract more customers and market your product better. This is how the marketplace is earning. The ads can boost your items and attract more buying as compared to other items of other owners.

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Actual Simple

We write about digital marketing, business models, and startups in a simple and lucid manner.

ActualSimple.com - Everything Is Better When It's Actually Simple!

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