There are mixed opinions on the tech giant – Facebook. Many are lovers and use their platforms every day. Many hate them and wouldn’t give them a snippet of their data. Either way, Facebook is getting bigger!
Facebook has just announced a new service and it’s going to create a bit of competition for another tech giant – Amazon.
Introducing… Facebook ‘Shops’.
What do we know about Shops?
Facebook identified that businesses and brands are increasing their digital presence. And a digital presence is almost a requirement at the moment with social distancing.
Facebook believes that shops will make it easier for small businesses to sell online. Unlike traditional e-commerce, the business won’t need their own website – they can just use a Facebook shop.
Shops will launch on Facebook and Instagram. Creating a shop will be free and easy. Your shop can also be customised with accent colours and a cover image to reflect your brand.
Customers can find a Facebook shop through a business Facebook page, Instagram profile, stories or ads. Once a customer finds a product they like, they can save it or place an order. An order can be placed through Facebook/Instagram directly or back through the businesses website.
Instagram’s shop will launch later this year and unfortunately, it will only be available in the US…for now. The Instagram shop is going to include a feature for larger brands or influences. When someone is going ‘live’ to talk about a product, they will be able to ‘tag’ the product at the bottom of their live feed.
How much will it cost?
Unlike other e-commerce platforms, Facebook isn’t going to take a clip of the sale or charge businesses a subscription fee. But this doesn’t mean they’re not going to turn a profit from shops. Founder and CEO Mark Zuckerberg released a 28-minute video on Shops and his financial position was very clear. According to Zuckerberg “Our business model here is ads,”. “Rather than charge businesses for Shops, we know that Shops are valuable for businesses. They’re going to in general bid more for ads and we’ll eventually make money that way.”
So what do you think about Shops? Will you be willing to purchase through the Facebook platform?