Like Google, Twitter, and Instagram platforms, Facebook is now toying with the idea of allowing customers to buy products directly from the retailers’ page. Facebook ‘s latest bid to remain competitive has spurred a major buzz in the industry since this development will not only heighten its potential in ecommerce but will also pit the social media giant against leading ecommerce websites.
The feature will enable retailers to build shop within their official Facebook Pages. These pages will therefore, function as mini e-commerce sites and act like a second home for brands and retailers to showcase their products.Touted as a breakthrough in online shopping, the feature will be the foremost to allow users to buy products while being social with retailers. By integrating the shop section on the page, Facebook is providing a more contemporary and interactive option for retailers to exhibit their products and enhance their brand image.
The social media giant has been mulling over the idea since July 2014, when it had just started collaborating with small and medium sized enterprises in the U.S. to test the feature. Later in June this year, Facebook began testing the “buy” button on a few of its advertisements to streamline the process of purchasing the advertised products.
The confirmation about the brand new buying feature came from Facebook on Wednesday, saying that the company at present is examining its potential amongst a group of customers and a handful of retailers. The new feature will also work on smartphones on the get-go with pages, which will include the “shop” section. This section will appear as an independent tab alongside Timeline, About, and Photos.
How Will Facebook Benefit from its Latest “Buy” Feature?
Both ecommerce and digital advertising industries have been exhibiting robust growth since the last decade or so. This explains why Facebook has been eyeing to venture in the ecommerce for a while. The Facebook pages for small enterprises initially begun with the intent of allowing businesses to stay connected with their customers. These retailers’ pages were also looked upon as a potential medium for generating leads. However, the social network now plans to fuel its revenue power by providing merchants online storefronts inside their official pages.
Reportedly, Facebook is also developing a virtual Messenger assistant app to help consumers to explore products that they might be interested in buying on retailers’ pages.
Facebook is in to make a momentous gain if the initiative takes off as planned. Presently, advertising constitutes the primary source of income for the company. However, the advances introduced in the company’s payment process are anticipated to boost conversions by making available to consumers hassle-free shopping experiences, especially on their smartphones.
Facebook said that the total number of shops willing to associate with the social network in its new endeavor is in the double digits albeit, but with plans for expansion it is only a matter of time before the pilot program cruises in full swing.
A recent survey-based report published by Forrester Research revealed that on an average an adult smartphone user in the U.K and U.S. dedicated over 10% of their total time spent on smartphone app on browsing Facebook’s main app, while Whatsapp and Instagram trails behind with a meagre 1% and 7% respectively. With the latest initiatives by Facebook, the company is poised to exponentially boost its user base and emerge as a formidable force in the market.