After exploring the idea of an SN ~AGORA marketplace, I thought that should be a good the practice to somehow validate it, looking at what others "recently" have been doing. Especially the F faster growing one, the one that had already a network of users that eased the lunch of its internal closed marketplace.
Mr. Zack and Co. launched the F marketplace in 2016 to reach more than one billion monthly global users in the first quarter of 2021. But, as data is truth --when not manipulated-- let's dive into the numbers:
Highlights: in an average month, up to 1.212 billion online shoppers buy something on F marketplace globally, equivalent to 40% of F 3.03 billion monthly active users.
- An estimated 485 million (16%) of active users log in for the sole purpose of shopping on its marketplace.
- A monthly average of 250 million sellers use F marketplace.
- In 2022 its usership grew 1.75% year-over-year (YoY).
No bad eh! well, you'll be surprised continuing below, as it became the most popular social commerce platform among social media consumers, including F other shopping media.
- 51.2% of all social media consumers made their most recent social media purchase from it.
- Among recent F shoppers, 77.7% purchased from its marketplace; 14.2% and 8.15% purchased using F Shops and F Messenges, respectively.
- 16% of the platform users regularly buy items from the F marketplace.
- 65.9% of all social media consumers made their most recent purchase via F.
- 5.37% of social consumers made their most recent social media platform purchase through F Messenges.
This data is from Q1 2023 and considering F marketplace is less than 10yo project, from a buyer perspective, numbers above are mind-blowing. But let's dive into the seller's details! Are they happy with it? It's profitable to invest time taking a picture from your smartphone and sharing it among your network of meta-friends to shill your sh*t?
Funny enough, F is however the least popular with U.S. online marketplace for sellers, making it 24.1% less popular than that other leading online marketplace, ibay. Indeed, nstgrm cover 37% of North American social media users, maybe because more visually appealing?
Globally indeed, 33% of all social media users use F marketplace or nstgrm shopping bag, that is actually part of the same F marketplace where sellers can manage and advertise from the F biz platform. Just a different shopfront name, as it is taking the same product and delivering it to a different platform.
Another not surprising fact is that F marketplace users are females (61.8%), a nice contrast to the fact that the males dominates the main F platform. I always thought women have the greatest potential on managing money. Men have always been scary of it and have never accepted the fact, writing it as the history we all know.
Unfortunately, we do not have enough women in the bitcoin space (yet), due to its male-dominated technical industry till those days. We see things changing now. So keep calm, and take this as an opportunity to orangepill your other half, inviting her to sell the items you don't need anymore, trust her! How many times she warned you to free some space in the garage? Take it as a teamwork exercise... You select the items, she sells them! Deal?
Facts, fun and couple games aside, the mission here continues being to experiment and shape the P2P Bitcoin-only marketplace on SN, or at least try to support the community to better understand how to sell and buy items to ethically stack more sats in this lightning fast moving cyberspace. The existing thing for me is that there's plenty of research to do, and hidden corners to explore.
That's all, stackers!