Facebook will soon host entire e-commerce shopping sites as the company builds out a new service that’ll allow businesses to showcase their products directly on a page.
These digital storefronts will have a ‘Buy Button’ and the company hopes will transform itself into a platform where retailers come to sell rather than just inform them about their products.
Facebook’s equation is simple. The digital advertising market which drives most of Facebook’s revenue is predicted to reach $60bn this year. Online commerce? That’s hitting $ 350bn this year.
It’s isn’t clear when Facebook might roll out the ‘Shop Pages’ feature for the general public and it’s apparently still being tested. The company does have a few partners working with it, but it didn’t mention who they are.