Facebook Marketplace has crossed 100 crore total users of the e-commerce platform. Launched by the social media company last year, as the Covid-19 pandemic broke across the world, Facebook Marketplace is the company’s expansion into the e-commerce space that aims to bring together the social media platform’s push to provide a path for single users, small and indigenous businesses to use the service to sell their products, and also for established businesses to digitise their offerings and reach out to more buyers. In its earnings call yesterday, Facebook chief Mark Zuckerberg stated that alongside crossing 100 crore (1 billion) total users of Marketplace, the platform also has over 10 lakh (1 million) stores for users to shop from, and attracts over 25 crore (250 million) shoppers every month.
Speaking to investors and other attendees of the earnings call, Zuckerberg said, “We’re investing in building the future of commerce We have a long way to go to build out a full-featured commerce platform across our services. This modern commerce system is going to bring together a number of areas where we either already have strong offerings like in ads, community tools and messaging with areas like shops and business messaging and payments.”
It will be interesting to see if Facebook can sustain the fairly tall 25 crore monthly active users (MAU) count into the future. The service was launched in times of the breakout of the Covid-19 pandemic across the world, which saw more individuals pushed to stay home, therefore giving an organic boost to more small businesses gaining spotlight and more users buying from small vendors – particularly on the Facebook owned photo-centric social media platform, Instagram. The figure accounts for roughly 13.3 percent of Facebook’s claimed user base, which the company claimed stands at 188 crore (1.88 billion) across the world right now.
Obtaining a standalone metric in terms of how many users might be visiting Facebook Marketplace with the sole intention of shopping, and not as an extension of the social media platform, would be more complicated but vital in gauging the potential of growth for Facebook in the e-commerce space. The issue, as it stands, is similar to what Amazon counts as its total users of Prime Video, which acts as an extension of its Prime membership from the Amazon e-commerce portal.