For those unfamiliar with Facebook Shops, it’s a feature that was rolled out in May 2020 to US businesses. The purpose was to expand eCommerce capabilities of Instagram and Facebook by allowing businesses to set up a single store that customers can access from both social media platforms.
As explained by Facebook:
"Facebook Shops make it easy for businesses to set up a single online store for customers to access on both Facebook and Instagram. Creating a Facebook Shop is free and simple. Businesses can choose the products they want to feature from their catalog and then customize the look and feel of their shop with a cover image and accent colors that showcase their brand. This means any seller, no matter their size or budget, can bring their business online and connect with customers wherever and whenever it’s convenient for them."
If you are familiar with shops and have a business in Canada or the UK then you’re in luck. Facebook users in Canada and the UK can now see a new Shop bookmark on the Facebook menu bar and in the mobile app.
The huge rise in eCommerce during 2020 has sparked a whole range of new monetization options on a variety of social media platforms, with Facebook and Instagram taking the lead through Shops. Analysts believe the rise of eCommerce was accelerated by five years due to COVID-19.
As explained by Facebook:
"The Shop experience for consumers will feature curated collections, products and recent posts from businesses of all sizes. People will be able to see personalized content from brands within the News Feed, and through in-product notifications or small business favorites they follow."
With such a strong vision of fulfilling one of the highest needs in online demand and its expansion into payment services with Facebook Pay and its cryptocurrency Diem (formerly known as Libra), Facebook is sure to change the social media eCommerce landscape and the way that eCommerce payments are done in the near future.
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