You know letgo? It’s buy&sell second hand stuff app. It says that you can post your items for sale in less than 30 seconds unlike Ebay. Now that, time to be competitor to letgo for Facebook. According to Facebook Marketplace post, exactly the same features as letgo are coming up to Facebook. Even, it’s going to be available in 4 countries in the following days. Thanks to this feature, you can discover items for sale near you.
So, the questions need to be asked;
- Why does Facebook launch Marketplace?
Since, Facebook covers whole internet more and more. Also, it needs to refresh itself by providing new abilities. letgo has been advertising for 3–4 months intensely and it’s creating a new approach to online selling called social selling. Facebook probably takes advantage of this trending topic. For instance, if something is being advertised on TV, digital or somewhere else, the best place for it on market is near these products. Because, most people already are alerted for this products many times with ads before they arrive there. When they are checking them out, will get a chance to see your products.
- How would it affect?
letgo will force its app to serve more features. Sure, Facebook has already many users and most people already knows Facebook more than letgo. That’s why, letgo will be able to down.
- What will other competitors do?
Let’s think Ebay as another competitor. Until now, it didn’t act to be on social media innovatively. Maybe, we’ll see good social media actions from Ebay in the future.
To sum up, Facebook Marketplace will be used for little things like notebook, iPad, iPhone perhaps TV and I don’t think that users can post spam items easily in contrast to letgo. We’re going to see Facebook Marketplace’s and letgo’s market shares in the coming months.