Facebook is adding to its social commerce capabilities, launching a number of new ecommerce features. The company is launching Facebook Shop, a tab within the Facebook app, which will allow users to discover businesses and purchase products. It follows the same feature launched on Instagram in July, as the company expands its Shops product that allows merchants to create shopfronts on both the Facebook and Instagram platforms.
In recent months there has been a significant rise in social commerce as consumers have spent more time at home with greater spending shifting online. Sales from products sold via social networks is estimated to reach USD23.3 billion in 2020, incentivizing social platforms to invest in their capabilities. Facebook is one of many players investing in this space, with recent initiatives including Google launching a video shopping platform, Amazon adding livestreaming to its influencer program and TikTok unveiling shoppable livestreams.
As social commerce becomes a must win channel, brands should look to use digital touchpoints such as live-streams and content created by key opinion leaders to influence product awareness and offer inspiration. Brands must evaluate the features and consumer base of different social shopping platforms, identifying relevant partners and creating appropriate content to drive engagement and traffic.
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