Facebook Marketplace has more than 1 billion visitors each month, CEO Mark Zuckerberg announced in the company’s Q1 earnings call on Wednesday. He also shared that Facebook Shops that was launched last year, now has more than one million monthly active Shops and over 250 million monthly Shops visitors. Facebook Marketplace was launched in 2016 to allow users to buy and sell with their community. Shops is relatively new, launched just last year, and the section provides businesses with a new way to prominently display the products they are selling on their Page.
In the Q1 2021 earnings call with Facebook investors, Zuckerberg touched upon how commerce is growing steadily on the platform. He announced that Marketplace has more than 1 billion visitors each month and Shops already has 250 million monthly visitors in just one year of launch. “Commerce has been growing on our services for a while, but it has become a lot more important as the pandemic has accelerated a broader shift towards businesses moving online. In the last year, we’ve seen online storefronts stay open even when physical stores closed, and going forward online commerce will continue to offer an increasingly personalized and convenient experience,” Zuckerberg told his investors.
To build better tools for commerce and improve on it, Zuckerberg said that they are looking to “investing more in building out better customer support for our products.” Facebook aims to build a full-featured commerce platform across services. “This modern commerce system is going to bring together a number of areas where we either already have strong offerings – like in ads, community tools, and messaging — with areas like Shops, business messaging, and payments that we’re focused on ramping up now,” he explained.
Facebook reported $26.2 billion (roughly Rs. 1,93,860 crore) in revenue, an increase of 48 percent from last year. Daily active users grew to 1.88 billion, up 8 percent or 144 million compared to last year. DAUs represented approximately 66 percent of the 2.85 billion monthly active users in March. MAUs grew by 250 million or 10 percent compared to last year.