Facebook is launching new shopping capabilities today, including Shops in Groups, product suggestions, and a test of Live Shopping for Creators. Admins of Facebook groups can use Shops in Groups to create an online store on their affiliated Facebook Page. The admins decide where the money goes; in the instance of OctoNation, a page that tested the feature, the proceeds went to OctoNation’s organization, which teaches people about octopuses (octopi?).
This may become a little uncomfortable in groups that do not have a clear humanitarian goal, but it is not as if Facebook groups have not had their fair share of controversy before. Nonetheless, Yulie Kwon Kim, Meta’s vice president of Product Management, pointed out that many group administrators are volunteers, and these stores might be a source of income for them.
She told TechCrunch, “The money goes to the group admin, and they can select how they want to utilize it.” “This is a fantastic method for folks to stay involved in the organization and keep it continuing.” At its Facebook Communities Summit earlier this month, Facebook outlined its ambitions for group monetization services such as stores, fundraisers, and subscriptions.
Users frequently ask for product suggestions in groups – think of a skincare or beauty group — so now, if a user mentions a product that is available in a Facebook store, they may tag and embed it in their remark. Users’ news feeds will display top product suggestions from groups. Facebook has featured Live Shopping for years, but as brand-creator collaborations become more popular, the service is testing a feature that will make these partnerships look seamless. Rather of referring viewers to another page to watch an influencer promote a product, artists and businesses may now cross-stream on both of their pages.
This year, Facebook — now known as Meta — has put a lot of effort into developing shopping solutions for companies and creators. As the Christmas season approaches, it is only natural that the corporation expands the number of options to spend money on the Facebook app.
These capabilities will be available on the web and in Facebook’s iOS and Android mobile applications starting today. Meta’s principal source of revenue is now advertising, but the company’s investment in shopping might provide a new source of revenue in the future.
Founder and CEO Mark Zuckerberg said this summer that until 2023, Meta would not take apart from the revenues of companies and creators as it expands its creator and commerce capabilities.
When the firm does offer a revenue share, he says it will be lower than Apple’s 30% take. However, by putting in place a solid e-commerce infrastructure now, the firm is putting itself in a position to prosper in the future.