Facebook is giving retailers a way to expand their sales through a new feature called “collections.” With this new feature, consumers can do more than “like” a product; they will be able to collect and even buy products directly through the links on Facebook. This is the next wave of eCommerce revenue in combination with social media.
The new Facebook Collections is meant to rival Pinterest, working in a similar fashion. It allows users to pin or save their favorite products to their timeline. The main goal for retailers is to allow users to share their favorite finds with their friends.
Retailers will have the option to showcase various products, allowing users to collect or “want” the products. The Facebook “want” feature allows users to save the product to a wish list that is visible to friends, as well as friends of friends. The Facebook “collect” feature saves the product to a products section that is visible only to friends of the user.
As of right now, Facebook is only opening up these features to a handful of brands, but it will eventually be available to every business that owns a Facebook page. The features will allow users to “like,” “share,” “want” or “collect” products. If the users wish to purchase the item, they will be able to do so by following the link right through Facebook.
This latest move is making Facebook the latest wave in social eCommerce. The goal is to help retailers increase their sales through the use of social media, where a majority of consumers spend their time already. Facebook has already proven its success in the social media platform, which means it is likely to be a successful tool for retailers.