Facebook started testing Marketplace, its service that connects local buyers and sellers in India. The social networking giant’s entry to the segment will give stiff competition for existing players, Quickr and OLX.
Marketplace provides seamless experience to its users to buy or sell anything through Facebook. It’s completely free.
Marketplace is primarily designed to help users sell and buy secondhand products. It’s more similar to OLX, but will be more efficient in terms of service and credibility, said reports.
Using Marketplace, people can easily buy or sell items using their smartphones. Indian users rely on such platforms mainly to buy jewelry, home appliances, apparels and electronics.
“In India, we are seeing more and more people who are using social media to buy and sell goods. With the Marketplace, we are making the experience a lot easier and, therefore, encouraging the behaviour and adding to the economic activity locally,” said Karandeep Anand, director, product management, Facebook.
The move signifies Facebook’s confidence in Indian market. As of now, Facebook won’t feature any category. It will be decided once the users start listing items. However, the company is yet to give an exact date of its launch.
“We don’t have a particular date in India for the pan-India launch. The goal of the test is to start learning. As we learn, we will understand whether the product meets the needs, finds it engaging. As we learn, we will start rolling it more broadly,” added Anand.
As it offers more security, Facebook is hopeful of attracting customers from existing online marketplaces.