Facebook Marketplace Scam: Why Indulge In Their Advancements

Facebook Marketplace is an exciting feature that Facebook offers to all users. Facebook was initially a social media platform for chats, messaging, and general social interactions with family, friends, and acquaintances.

Facebook Marketplace Scam is a relatively common occurrence in the scam field. It has captured the main frame and staked its claim on the virtual populous. As a result, the e-commerce platform has multiplied and affected the retail experience. 

Online marketplaces like eBay, Amazon, and Facebook account shoppers have undeviating conversations with sellers and allow fraudsters to lure victims in several scams.     

Goibibo, Rakuten, and other general online marketplaces have their demarcated standing. 

A. KINDS OF E-MARKETPLACES:

Independent e-marketplace-  A business-to-business online platform operated by a third party open to buyers or sellers in a particular industry. On registration, one can gain access to classified ads or quotation requests in the industry sector. Certain payment forms are required to participate.

Buyer-oriented e-marketplace- Run by a consortium of buyers to establish an efficient purchasing environment. For purchase, participation in this e-marketplace can help lower administrative costs and achieve the best supplier price. In addition, as a supplier, one can use a buyer-oriented e-marketplace to advertise your catalog to relevant customers looking to buy.

Supplier-oriented e-marketplace- It is set up and operated by several suppliers seeking to establish an efficient sales channel via the internet to many buyers. They are searchable by the product or service offered.

Supplier directories reward buyers by furnishing information about suppliers for markets and regions they may need to become more familiar with. In addition, sellers can use these marketplaces to increase their visibility to potential buyers and get leads.

Vertical e-marketplace- The online access to businesses vertically up and down every segment of a particular industry, such as automotive, chemical, construction, or textiles. The purchasing prowess of the industry sector could raise operating efficiency and reduce supply chain costs, inventories, and time on the procurement cycle. 

Horizontal e-marketplace- It connects buyers and sellers across different industries or regions. In addition, one can purchase indirect products like office equipment or stationery items. 

There are varying auction types for interested buyers on all online platforms. Choosing the best one from the sea of many is an arduous task but achievable. However, the accessibility to these distinct e-marketplaces also paves the way for Facebook marketplace scams.     

B. PRICING INFORMATION IN E-MARKETPLACES:

They are available to the registered users of the marketplace domain. 

Various types of catalogs, including:

• General product information list
• Detailed product information
• Information sources
• Promotional catalogs 

These are consumed by the product and service sellers. Some dispense a single catalog of all suppliers and products, while others have links to individual supplier catalogs.

With e-marketplace catalogs, customers can research a comprehensive product range and suppliers from a central source. Then, they can purchase in a single transaction from a single site. 

The other option where prices are specified is in the directory format. For example, some e-marketplaces offer a directory of suppliers listed by products or services provided, with tie-ups to supplier websites.

Side Note: If you are listed in a directory, ensure your company is in the right industry sector and all relevant listings. It would help customers locate you and improve the website's search engine rankings.

C. BENEFITS OF E-MARKETPLACES:

E-marketplaces like the Facebook marketplace and the related Facebook Marketplace Scam require one’s undivided attention. There is a dedicated set of individuals who understand the market functions. They abide by this.

Some of the benefits are enumerated under the respective headers: 

General Business Benefits:

• Excellent opportunities for suppliers and buyers to establish new trading partnerships, either within their supply chain or across.
• The provision of greater transparency in Emarketplaces, the purchasing process since availability, prices, and stock levels, are all accessible in an open environment.
• Time constraints and problems with varying office hours for international trade are removed as it is possible to operate on a round-the-clock basis.

Buyer Benefits: 

• The ease with which best deals are secured owes to updated information on price and availability.
• E-marketplaces offer a convenient way to compare prices and products from a single source rather than spending time contacting each supplier. An example is the monetary value of necklaces and gowns. However, swinging into cheaper deals without authenticating the offer can mean a one-way ticket to Facebook marketplace scam or its kind.
• Established e-marketplaces provide a level of trust for the buyer as they deal exclusively with member suppliers.

Seller Benefits: 

• Regular requests for quotations from new and current customers are made possible.
• Provision of an additional sales channel to market and sell products.
• E-marketplaces offer reduced marketing costs when compared with other sales channels.
• Using international e-marketplaces can provide opportunities for overseas sales that one would not otherwise be aware of.

D. THE EXISTENCE OF E-MARKETPLACES:

The restriction of products could hamper customer indulgence in a particular domain. Social media platforms like Twitter, Instagram, and Facebook are not the only avenues of trade and purchase. 

There are recognized online supermarkets that flourish because of the diversity they maintain. Trading hubs, also called online exchanges, are websites where buyers and sellers trade goods and services online.

Scams can occur at all levels of the e-marketplace. Therefore, being wary of the same and the conceited web is of utmost priority.