Summary:
Gen Z usage of Facebook has dropped to 32% from 71% in 2014.
Facebook Marketplace has more than one billion users, competing with eBay and Craigslist.
The platform appeals to Gen Z's desire for savings and sustainability.
A partnership with eBay is expected to generate $1.6 billion in additional sales.
Users like Leena Pettigrew have turned the platform into a $25,000/month business.
Facebook Marketplace: A New Hub for Gen Z
Over the last 10 years, Facebook has seen a significant decline in usage among Gen Z, dropping from 71% in 2014 to just 32% today, according to a 2024 Pew Research study. However, for the remaining 32%, Facebook Marketplace has become an integral part of their online experience.
Launched in 2016, Facebook Marketplace aims to provide a platform for users to "buy or sell new and used items easily, whether locally or from businesses." With over one billion users, it stands as a formidable competitor to eBay and Craigslist, as reported by CNBC.
The Appeal of Facebook Marketplace to Gen Z
Experts suggest that having a Facebook profile helps mitigate the risks associated with anonymous sellers found on other platforms. The Marketplace aligns perfectly with the younger generation's desire for savings and sustainable buying practices.
"Marketplace offers both," says Yoo-Kyoung Seock, a professor at the College of Family and Consumer Sciences at the University of Georgia.
Strategic Partnerships and Growth
In January, Facebook Marketplace announced a partnership with eBay, allowing select listings from eBay to appear on the platform in the U.S., Germany, and France. Analysts predict this collaboration could generate an additional $1.6 billion in sales for eBay by the end of 2025.
Success Stories from the Marketplace
Entrepreneur has highlighted various users who have turned Facebook Marketplace into lucrative side hustles. One notable example is Leena Pettigrew, a former database analyst from Houston, Texas, who began selling plants in the fall of 2022 and has scaled her business to earn $25,000 a month.
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