Gen Z Sticks with Facebook Because of Marketplace's Unique Offerings

Smartphone screen with Facebook app icon, illustrating Gen Z Facebook Marketplace use.

Facebook's Shift: Why Gen Z is Embracing Marketplace

In recent years, Facebook has seen a significant decline in popularity among young people. A 2024 Pew Research study revealed that usage among Gen Z has slumped from 71% in 2014 to just 32% today. Despite this drop, many of those still actively using the platform cite Facebook Marketplace as a primary reason for their continued engagement.

Marketplace: A Unique Selling Point for Facebook

Launched in 2016, Facebook Marketplace has become a powerhouse within the platform, boasting over one billion users and emerging as a formidable competitor against eBay and Craigslist. By allowing users to buy and sell items both locally and from businesses, Marketplace taps into Gen Z’s affinity for finding deals while also addressing their strong sense of sustainability.

Dr. Yoo-Kyoung Seock, a professor at the University of Georgia, indicates that possessing a Facebook profile adds security when dealing with potential scams often encountered on anonymous platforms. It reassures users because they can trace sellers more easily compared to other online marketplaces, thus lowering the risk of fraudulent transactions. This foundational trust reinforces the relevance of Marketplace for younger users who might otherwise avoid the platform.

Strategic Partnerships and Revenue Growth

In a strategic move to enhance its appeal, Facebook Marketplace announced a collaboration with eBay, enabling select listings to be visible on the platform across the U.S., Germany, and France. This partnership is expected to generate an impressive $1.6 billion in sales for eBay by 2025. Insights from Business Insider highlight the necessity for Meta to leverage the popularity of Marketplace to attract younger demographics who typically favor platforms like Snapchat or TikTok.

The Economic Impact of Marketplace on Small Businesses

Marketplace is not just a user-centric feature; it's also a burgeoning marketplace for entrepreneurs. Successful entrepreneurs like Leena Pettigrew attribute their thriving plant-selling business—a venture they expanded through Facebook Marketplace—to their ability to engage directly with local buyers. Pettigrew’s earnings reached $25,000 a month, showcasing the platform's potential to foster small business growth.

In essence, while many young adults may view Facebook as the "grandparent" platform of social media, Marketplace fills a vital niche that resonates strongly with Gen Z values, particularly the desire for economical and sustainable options for purchasing goods. This value proposition grants Facebook a leg up in a competitive social media landscape, as it creates avenues for engagement that are both practical and socially conscious.

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