Trade Me Group Ltd
(ASX:TME) is currently the largest internet-auction website in New Zealand. But things are about to get more competitive now that Facebook Marketplace has been rolled out in New Zealand.
Facebook has added a new feature to its mobile app. It takes users directly into an online marketplace where they can browse, buy and sell goods (like eBay, Gumtree, and Trade Me).
Trade Me’s Head of Marketplace, Stuart McLean, says his company hasn’t felt the impact of further competition yet, but says it would “be naïve not to pay attention to any competitors that enter …[its] business”.
Mr McLean says what separates Trade Me from its competitors is that his company is NZ based, has 24 hour customer service, anti-fraud tools, as well as local trust and safety teams.
Trade Me reported a net profit of $71.5 million at 30 June 2016.
