Over the past 10 years, Facebook has had a sizeable dropoff successful usage by Gen Zers, down to 32% from 71% successful 2014, according to a 2024 Pew Research study. But for the remaining 32%, the level has go an integral portion of their lives acknowledgment to Facebook Marketplace.
Launched successful 2016, Facebook Marketplace bills itself arsenic a intends for users to "buy aliases waste caller and utilized items easily...locally aliases from businesses." It presently has much than 1 cardinal users, making it a notable competitor pinch the likes of eBay and Craigslist, reports CNBC.
Related: Teen Brothers' $1.2M Business Began arsenic Facebook Side Hustle
One master who said pinch CNBC astir Facebook Marketplace's fame pinch Gen Z said having a Facebook floor plan mightiness mitigate immoderate of the risks users brushwood erstwhile dealing pinch anonymous sellers connected different platforms. The level besides taps into younger people's desire to prevention money and prosecute successful buying practices that beforehand sustainability.
"Marketplace offers both," said Yoo-Kyoung Seock, a professor astatine the College of Family and Consumer Sciences astatine the University of Georgia.
In January, Facebook Marketplace announced a business pinch eBay that will let prime listings to look connected the level successful the U.S., Germany, and France. According to CNBC, analysts task this will bring successful $1.6 cardinal successful further income for eBay by the extremity of 2025.
Related: Starting a Side Hustle connected Facebook: Advice From $1M+ Earners
Big tech isn't the only 1 making money pinch Facebook Marketplace.
Entrepreneur has profiled galore users who started lucrative broadside hustles connected the platform. For example, Leena Pettigrew, a 44-year-old erstwhile database expert from Houston, Texas, started trading plants successful the autumn of 2022 and grew it to a business that now earns her $25,000 a month.
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