Facebook has been doing several things on the ecommerce front. The company first launched Facebook Marketplace in 2016 in four markets: US, UK, Australia, and New Zealand. It has since launched the service in several new markets including Bangladesh.
On May 19, 2020, Facebook added ecommerce Shops to Facebook business pages and Instagram business profiles. First launched in the US with a checkout feature where sellers can receive payment directly on Facebook for a small selling fee of 5% per shipment. The company has already started to reach out to merchants in Dhaka, in a move that could potentially shape the entire ecommerce landscape in Bangladesh. In December 2020, Facebook announced that it has reached an agreement to acquire Kustomer, a startup focused on customer service technology and chatbots. We wrote about the announcement and its potential impacts here.
Facebook exerts unparalleled power in Dhaka’s ecommerce space. These developments in the ecommerce space from the social media giant are likely to affect and shape the ecommerce landscape in Dhaka in the coming years.
In this piece, we take a closer look into Facebook’s ecommerce moves and their potential impact on the digital commerce landscape in Bangladesh. In the end, we will try to tie in all the disparate strings to help you make sense of all these things.