Facebook new “Local Market” feature spotted, is it entering social eCommerce combination?


Facebook, a popular social networking website, is all set to enter the social ecommerce website category with its local market feature. Facebook took virtual networks to the next level, connecting brands with people. It favored marketing of people and brands, communication and engagement. You could know about anything that is bound to happen in the future with this social networking site. Facebook brought in news with social communication. It helped brands communicate with their groups and pages. Engagement model was perfected by Facebook. Till date, you could not conduct buying on Facebook. Ecommerce was kept away from Facebook. But, Facebook has finally decided to venture this platform.

The local market feature will introduce buying and selling within this social networking site. It is a customer to customer ecommerce platform, which will deliver social networking, marketing, and a community marketplace all at one place. Basically, you get everything at one place, so why would you go anywhere else. The best part is the word local. Your markets are local, so if you want to buy a product in India, the Indian markets would open, and the products available here would be shown to you. Now, that’s a concept you cannot beat. It is basically a social ecommerce website development.

The Testing Phase

The “Local Market” feature was observed by a few people when they had visited the Facebook app. It was next to the messenger icon on the app. Currently, Facebook is testing this feature, and only after they are satisfied with this testing result would they release the feature. It will come as a dedicated button on the Facebook app, and would show the products available for sale in the given geographic area. Initially, the sale groups were used to buy and sell on Facebook. This concept has been extended to Local Market.

C2C Ecommerce: Hybrid Site Development

The new feature introduced by Facebook works on the customer to customer ecommerce model. Before understanding the model’s benefits, it is important to understand the model.

This model allows two customers to interact in engaging and innovative manner. Traditional markets are based on the business to customer type of transaction. But, this marketplace is unconventional, where customers buy and sell the products. Businesses create an environment where the customers can conduct the transaction. Basically, the customers are the brand advocates in this case, influencing a certain market. In this ecosystem, the customers are not really charged for the selling, and customers who end up buying are either buying an asset consumed by another customer, or something that has not been consumed by anyone. An excellent example of such ecosystem would be olx, where the customers sell their assets to another customer. It is basically a marketplace wholly consumed and driven by customers i.e. it is built by mixing two sites.

Benefits of C2C Model

This is somewhat similar to direct selling model. In this social app development model, customers get connected with other customers with the idea of buying and selling. It is a marketplace similar business model, but with a slight difference. In the marketplace, businesses are involved, but this one is wholly dependent on the customers to run the show.

In social ecommerce platforms, the buyer and seller both are customers. There is more credibility to this platform than there is with other platforms that survive on businesses and their engagement models with the customers.The peer to peer model comes into picture with this social model of ecommerce. With social ecommerce app, you will see that the transaction cost is minimal. Again, there are no businesses involved in this transaction, and so it is the seller who will decide the selling price, and buyer will be asked to negotiate. There are no benchmarks set for either the seller or the buyer.

It is a win win situation for both parties involved in the marketplace, hence the profitability of the model increases. In social site development, you will observe that the sellers connect without intermediary, which happens to be advantageous to those shopping on this site.

If you want to go for ecommerce app development which works on customer-to-customer model, then you should consider the payment methods, and how you will govern quality of products.

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Vishal Nakum

Vishal Nakum is a tech enthusiast with a passion for exploring the latest developments in the world of technology. He has a keen interest in emerging technologies such as Artificial Intelligence, Machine Learning, and Blockchain, and enjoys keeping up-to-date with the latest trends and advancements in these fields. Vishal is an avid learner and is always on the lookout for new ways to expand his knowledge and skills. He is also a creative thinker and enjoys experimenting with new ideas and concepts. In his free time, Vishal enjoys playing video games and reading books on technology and science.