May 28, 2020
Facebook, Inc., the Silicon Valley-headquartered, worldwide-social-networking behemoth, whose corporate portfolio includes more than 80 companies, last week announced that small businesses will now have access to toolsets that enable them to create online stores on the Facebook and Instagram sites. These shops will provide small businesses the opportunity to present their wares to billions of Facebook and Instagram users worldwide.
During his rollout announcement, Facebook CEO Mark Zuckerberg stated that Facebook Shops are intended to help small businesses impacted by the coronavirus pandemic. It came the day after a Facebook April survey showed that 31% of small businesses stopped operating and another 11% indicated they expect to fail within the next three months if Covid-19 conditions persist.
The timing is fortuitous in another respect: spurred by the Covid-19 pandemic, consumers have shifted a large share of their everyday purchases online. Industry experts view the move as Facebook, Inc.’s most significant initiative to date designed to help the company expand its already-enormous economic footprint beyond advertising and into the e-commerce marketplace – a space largely dominated by Amazon, and to a lesser extent, Walmart. Furthermore, they point out that as a result, users of Facebook and Instagram will likely spend much more time on the sites and will likely wind up sharing with the sites more personal data revealing their purchase habits and tendencies.
A company statement providing specifics explained, “Facebook Shops is a mobile-first shopping experience where businesses can easily create an online store on Facebook and Instagram for free. Shops let you choose which of your items you want to feature, merchandise with product collections and tell your brand story with customizable fonts and colors. In Facebook Shops, you’ll be able to connect with customers through WhatsApp, Messenger or Instagram Direct to answer questions, offer support and more.”
What’s in it for Facebook and Instagram users? A key upside is that their shipping and billing information can be stored, making purchases through Facebook Shops relatively quick and easy.
This Ecommerce industry news update is presented by the Butcher Block Co. – the online store of choice for consumers and businesses shopping for any and all things butcher block. The Butcher Block Co. catalog includes wood countertops, as well as a full line of dining, work, and baking tables, plus kitchen carts and cutting boards.
For more information, please visit Butcher Block Co.
Name: Kathleen Grodsky
Organization: Butcher Block Co.
Address: 10448 N 21st Pl Phoenix, Arizona 85028
Phone: (877) 845-5597