The Facebook chief
executive officer announced a handful of updates Tuesday signaling the
company's commitment to online shopping and commerce.
Facebook is making another run at building a shopping empire — and this time it has the direct involvement of the company’s most important executive, Mark Zuckerberg.
The Facebook chief
executive officer announced a handful of updates Tuesday signaling the
company’s commitment to online shopping and commerce, one of the areas he
highlighted as a priority for this year.
The main product, called
Shops, is a new version of an existing Facebook feature with a similar name,
and will let retailers upload product catalogs to their Facebook
page or Instagram profile.
Users can find these Shops
directly from the retailer’s page, or by clicking on an ad that will redirect
them to a Shop inside Facebook instead of the retailer’s own website.
Eventually, Zuckerberg
says, these Shops will be accessible across the Facebook family, including
Messenger and WhatsApp, giving retailers a way to reach Facebook’s nearly 3
billion users with one product catalog.
“This is really the first
very major push that we’re going to be making into that next step around
commerce,” Zuckerberg said in an interview Monday.
He also highlighted the
importance of Shops for small businesses, almost all of which are operating
exclusively online during the Covid-19 pandemic. The “vast majority” of
Facebook advertisers are small businesses, Zuckerberg said, so ensuring they
can operate is important to Facebook’s business as well.
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