In keeping with its trend of launching e-commerce offerings on Instagram and WhatsApp, Facebook Inc. is now launching an exclusive feature on world’s largest social networking platform – Facebook.
Dubbed ‘Shops’, the exclusive service will allow businesses to display and sell products on Facebook. This was revealed yesterday by Marc Zuckerberg.
The service aims to increase consumer engagement and ad sales, by enabling businesses to set up a single online store accessible via both Facebook and Instagram.
There will be a checkout feature that will help in-app purchases.
Facebook Shops will be free for businesses to access with the business model depending majorly on ads. “So 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,” Marc Zuckerberg revealed in a livestreamed video announcement.
The company is also launching a tool to connect loyalty programmes and a shopping feature showing product tags underneath live videos, allowing viewers to make purchases directly while watching.
No further details on this have been revealed as of now.
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