Facebook Marketplaces Dropshipping Update
Transcribe of “Facebook Marketplaces Dropshipping Update”
Hi, guys, Neil Waterhouse. Since Facebook released Facebook Marketplaces back in 2016, we’ve been keeping a very close eye on it as another marketplace for dropshipping. If you’re already dropped shipping on now on say places like eBay, Amazon, Shopify Store, et cetera, adding another marketplace like Facebook to sell exactly the same items obviously means more diversification, more sales of exactly the same drop ship items, and therefore more turnover and more profit.
Facebook Marketplaces closely is Facebook is currently the fourth most visited website on the planet
The reason we’ve been watching Facebook Marketplaces closely is Facebook is currently the fourth most visited website on the planet. Now just really newbies watching this video, Facebook Marketplaces is where you can buy and sell items on Facebook. And the term drop shipping is when you sell items before you purchase them and your supplier ships out on direct to your customer after you’ve been paid. Now since Facebook released Marketplaces back in 2016, it’s used primarily to buy and sell mostly just used items.
Majority of items solid on Marketplaces are used items
Yes, there is new items sold, but the majority of items solid on Marketplaces are used items. But things are changing, and this could be very exciting. The reason we’ve not pushed hard on selling like our drop ship and important products on Marketplaces is it does not offer automation like you can do with eBay, Amazon, or Shopify, et cetera. Facebook in the past did not give any options for shipping, payment, or inventory control. So you couldn’t use a program like Scarcity Manager to manage your inventory and/or your suppliers. This is changing.
Facebook has started rolling out shipping and payments in different locations and in different categories
Facebook has started rolling out shipping and payments in different locations and in different categories. They’ve also started offering inventory management. We can tell Facebook how many of an item you have available. So you don’t have to relist the item every time it sells. Unfortunately though, Facebook is not making it public yet as to which locations and categories that shipping payments and inventory management is available.
Facebook has shipping for that locategory
The only way to find out is to try listing an item in your location and see if Facebook has shipping for that locategory. If Facebook offers shipping in your location, you’ll see this option on the left-hand side as you list your item. Likewise, if the category you are listening in offers shipping, you’ll see that option below the relevant category. You’ll also see the stock management, if it is available in your category and your location. In Australia, we’re currently not seeing the shipping option, but in our North American account, we do. Please let me know in the comments section below if Facebook shows you these options in your location.
Shipping is very new
Now the big thing to keep in mind here is Facebook Marketplaces, where shipping is very new. So if you wish to get in on the ground floor, as they say, keep a close eye on it. Also, Facebook only charges between zero, which is their promo at the moment, and 5% when items are sold. Which is cheaper than Ebay and Amazon. A couple of things to note here are, when items sell on this new platform, you need to upload a tracking number within three business days.
Facebook is currently taking around five days to release funds
Facebook is currently taking around five days to release funds. And with new sellers, they’re not releasing funds until the tracking number shows that the item’s been delivered. And I bet if you’re paying your suppliers with a credit card, a lot of credit card companies give up to 55 days to pay, and some are giving ridiculous amounts, 6 months, 13 months, and whatever. But you know, if it’s just a normal credit card, 55 days to pay, you can still remain cashflow positive.
Facebook is the fourth most visited site on the planet
Bottom line is, this is all very new, but if you’re dropshipping, Facebook is the fourth most visited site on the planet, so we need to keep a very close eye on it. And I’ll certainly do my best to keep everybody updated as things change. That’s all for this week. If you need any help scaling up your business, make sure you check out the free step-by-step videos below. And while you’re there, make sure you hit the subscribe button to the no-fluff channel that teaches how to anyone make a full-time living from their home, drop shipping, using less $100. Until next week, stay safe. List more, sell more. This is Neil Waterhouse.
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