Facebook will allow businesses to sell their products on digitized shops on the world’s largest social networking platform. Facebook has launched digitized shops for the sellers to display their product and services to create full fledged Facebook shop.
While COVID-19 pandemic tends to minimize the flow of “brick and mortar” shopping consumers around the world can (or will) do, more and more buyers look to eCommerce as a way to get the things they need but it turns out to be both a blessing and a curse for some online companies. However, Zuckerberg enlighten the concept of digitization of online stores.
Messaging Platforms Other than Facebook
Facebook and Instagram have been together in this effort enabling businesses online to support a degree of e-commerce with Libra currency initiative. A checkout function allows in-app transactions, while a more streamlined messaging functionality allows consumers to chat with businesses through WhatsApp, Messenger or Instagram Direct.
Link with Other eCommerce Stores
Zuckerberg also said that social network platform will also join hands with other online shopping hubs like Shopify and other seven eCommerce stores. Facebook also carries out a platform for linking loyalty programs and a shopping app that shows purchasing under live videos, enabling customers to make purchases as they watch. Across Facebook and Instagram, Zuckerberg said more than 800 million users connect with live videos every day.
We know that shops are valuable to businesses rather than charging money from them. In fact, they are going to pay more for advertising and this means we will actually make money, said Zuckerberg.
With the economic repercussions of the pandemic, both small and large businesses were affected. Therefore, over the last few months, online purchases have been a saving grace for them. Facebook stores, as well as Facebook itself, would definitely generate major new market prospects for businesses.
We believe that the concept is suitable for the seller as the business model is pretty favorable for them.