Facebook Shops to help small businesses sell online

Facebook Shops

"We think Facebook Shop in a simplistic bull case could drive up to as much as a $30 [billion] revenue opportunity, across a combination of take-rate driven transactional and advertising revenue", the analysts stated. We want to make it easy to set up a single online Shop for customers to access on Facebook and Instagram. The US-based social media giant is partnering with firms like Shopify, BigCommerce, WooCommerce and Channel Advisor to help small businesses set up stores on Facebook and Instagram.

"Over the past three months businesses of all sizes have been forced to change their business models and adapt to selling online", Facebook Australia and New Zealand managing director Will Easton told Inside Retail.

Facebook Shops is going to give tough competition to other e-commerce platforms like Amazon and Flipkart.

Facebook CEO Mark Zuckerberg said in a live video that the pandemic is not just a health emergency, but "the biggest economic shock" that people have ever felt.

"Our mission is about giving individuals the power to bring people closer together". Ads posted by a user can be posted on both Instagram and Facebook Messenger. Instagram will also gain a dedicated shopping tab where similar functionality will be given to businesses. Once done, users can browse full collections, save products they are interested in buying and place an order.

"People can find Facebook Shops on a business' Facebook Page or Instagram profile, or discover them through stories or ads", the social network operator said.

"In future, you'll be able to view a business' shop and make purchases right within a chat in WhatsApp, Messenger or Instagram Direct", Facebook said.

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To recreate an offline store experience, Facebook said customers will be able to reach out to brands and businesses on WhatsApp, Messenger, or Instagram Direct, for queries including product recommendations, shipping, payments, and others.

Facebook's main goal has always been to connect people from all around the globe, from friends to family and also products from brands and businesses that we all love.

Facebook Shops will start off with Facebook and Instagram. But, when you use Facebook to checkout, you will reportedly be charged a fee.

Meanwhile, Instagram's vice president of product Vishal Shah told me this is a big, global test of the feature, with almost 1 million businesses already signed up.

Customers in the United States will be able to check out within Facebook but this feature is yet to be rolled out in Australia and New Zealand. They can easily see and keep track of their points and rewards.

As we have mentioned, in summer it will premiere Instagram shop, a new way to buy through Instagram Explore.

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