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Facebook to compete with OLX & Quikr, tests marketplace in India

According to KPMG report, by 2020 the size of the digital classifieds industry is expected to be $1.2B

Facebook has started testing the Facebook Marketplace in India. Starting from Mumbai, FB Marketplace will essentially let users to buy and sell products online like OLX and Quikr.

Facebook Marketplace is currently available in countries like US, Australia, Canada and other 22 countries. India is the 26th country for Facebook Marketplace.

Facebook Marketplace comes on a back of communities which Facebook already has. The communities like Fashion, Real Estate, Celebrity Fan pages will find it easy to do commerce through Facebook Marketplace and perhaps will be first ones to adapt the service.

The report outlines that next phase of growth of digital classifieds will be driven by the rapid growth of E-services, Real Estate and Automobiles. However, horizontal classifieds will still continue to lead with about 30 per cent market share of total digital classifieds in 2020. Google search trends reveal that local searches across these categories have grown by 4X in the last four years, led by non metro’s like Pune, Ahmedabad, Chandigarh, Kochi, Coimbatore, Indore and Jaipur.
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