Facebook Starts Testing Service That Will Take On Olx On Quikr


Facebook is trialing its service for linking local sellers and buyers—Marketplace—for the first time in India.

“In India, we are witnessing more and more users who are employing social media to sell and buy products. With Marketplace, we are converting the experience a lot simpler and, as a result, heartening the behavior and locally adding to the economic activity,” claimed director for product management at Facebook, Karandeep Anand, to the media in an interview. Over 550 Million users already visit Facebook groups all over the world that have goods to sell and buy every month, the firm claimed, making up for 1/4th of its 2 Billion active consumers each month.

Marketplace charges no cost to sellers or buyers and plans to make it simple for consumers to trade typically used products, with the capability of posting goods for sale through computer or smartphone. In India, currently consumers are mainly selling and buying accessories & jewellery, electronics, household goods, and apparel.

“We do not have a specific date in India for the pan-India roll out. The aim of the trial is to begin learning. As we study, we will recognize whether the item meets the requirement and is engaging enough for the users. As we study, we will begin launching it more widely,” claimed Anand.

Right now Facebook is not describing any segments. Once users began listing, segments will begin getting formed. An item can be found as per a radius you select, the company claimed.

“Sellers are normal users living in normal communities such as artisans, students, and NGOs. So, instead of going and making a market of sellers similar to how ecommerce companies might, our aim is to provide service to whoever is on Facebook and offer them enhance tools,” claimed Anand. “In a different market, we see various behaviors. In the U.S., goods traded are typically pre-owned. In Asian markets, it is a mixture of new and pre-owned goods.”

Facebook is offering tools around privacy, so consumers do not overshare data. It is also carrying out spending in machine learning to ensure the goods that must not to be listed are such as cigarettes, guns, alcohol and so on.