Facebook Marketplace is an area Meta is tapping for the families’ teen segment of Gen Z that has moved heavily to apps like Snapchat and TikTok. What was once perceived as the platform for the senior individuals, Facebook is now employing the Marketplace feature to attract the youth through the ability to buy second-hand items, and more often than not – get a good deal.
While currently it can be stated that the company’s CEO Mark Zuckerberg recognized the problem of making Facebook more attractive to the young adults, who were initially targeted by the platform. Thus, by targeting the specific website – Facebook Marketplace, Meta wants to attract this demographic to its peculiarities of buying and selling.
The social media especially Facebook Marketplace has been found to be the leading source of engagement among the youths. During the Q2 earnings Meta’s CFO Susan Li noted that Marketplace enjoys a lot of engagement with this age bracket explaining the growing numbers on how the company is preserving the younger demographic.
Compared to the anonymous sites like craigslist, Facebook Marketplace is again associated with the Facebook profile and ensures youthful buyers and sellers find it safe than the traditional sites. It is well aligned with what Marketplace offers because, as cited Gen Z has a preference for thrifting and second-hand items. People often snap screenshots and share purchases and tricks on social media so every user of the application is a part of the massive audience of occasional shoppers.
According to Meta, up to allows it as the degree of structural differentiation in systems of living beings. There are 2. 28 billion internet users, and 1. 97 million people buy items from Facebook Marketplace monthly. It has transitioned to become the most used social commerce site contributing, 51. It stated that two percent of social media users made their latest purchase through social media.
Marketplace is utilized about two to three times a month for purposes of getting new clothes or when shopping for furniture by 28-year-old New Yorker; Karissa Franklin. “You can buy them and bargain so you are always going to spend a lot less than its retail price,” she said.
Thanks to the Marketplace, Zuckerberg has positive expectations regarding Facebook’s evolution regarding young adults. Numbers that are currently evident, and in the US particularly, do not tally with the general perception among people about the usage of the app, he explained. What Meta is successfully showing with Facebook Marketplace is that even a platform that has been considered more archaic can adapt to the existing trends and to user needs with the right buttons and options and attract a new audience.