Facebook launches e-commerce business in Nigeria, opening up $12 billion online market

According to punchng, social media giant Facebook launched its Marketplace e-commerce service in Nigeria, a West African country, in early February this year to help local consumers search, buy and sell goods online on Facebook and filter by distance from the shipping location and product category.

Prior to this, Facebook has launched this e-commerce service in South Africa, Ethiopia and Kenya in Africa.

According to Wikipedia, Nigeria is the most populous country in Africa and the seventh most populous country in the world, with a population of over 195 million and an average age of 18. Thanks to the youthful population, Nigeria has 86 million Internet users, with an Internet penetration rate of 46% and is still rising.

According to statistics, Nigeria's current e-commerce consumption is about US$12 billion, and it is expected that the country's e-commerce spending will increase significantly to US$75 billion by 2025. Therefore, the country has extremely high potential for e-commerce development.

Adaora Ikenze, director of public policy for English-speaking West Africa , said that the Marketplace e-commerce service launched by Facebook in Nigeria can help promote trade activities in the country and strengthen connections between and within different communities . And as more and more people begin to trade goods on Facebook , Marketplace is expected to become an online shopping mall that facilitates the lives of Nigerian residents.

When explaining how Marketplace works , Facebook said that after sellers list products on Marketplace, the products will be included in Facebook's public list and all Facebook users can see the product information list .

When uploading product information, sellers only need to take a photo of the product , enter the product name , product description , sales price and product shipping address , select and confirm the product category , and then publish it to Facebook's Marketplace .

However, the items , products or services sold by sellers must comply with their community standards and business policies.

In order to maintain the development environment of its e-commerce market, Facebook also made the following suggestions to buyers and sellers who plan to use Marketplace:

1. When buying high-value items such as watches and high-end bags, it is best for buyers to ask the seller for an invoice or receipt that can prove the authenticity of the product and the purchase record;

2. It is best for buyers and sellers to meet in a public place and use cash, cash on delivery or person-to-person payment instead of using payment links;

3. Buyers and sellers should not share their financial account information, such as payment login names, bank account information, and passwords;

4. Buyers can refuse to purchase products if they are not satisfied with them or have doubts. Buyers also have the right to report sellers or products that violate relevant business policies.

In the past two years , Facebook has been vigorously developing e-commerce businesses around the world. Interested sellers can also follow Facebook's footsteps to find new ways to expand overseas markets and increase online sales!

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