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 educates people about octopuses (octopi?).
This could get a little uncomfortable in groups that don’t have a clear humanitarian goal, but it’s not like Facebook groups haven’t had their fair share of drama before.
Nonetheless, Yulie Kwon Kim, Meta’s vice president of Product Management, pointed out that many group administrators are volunteers, and these stores might provide 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 shops, fundraisers, and subscriptions.
Users frequently ask for product recommendations in groups – think of a skincare or makeup group — so now, if a user mentions a product that is available in a Facebook shop, they may tag and embed it in their comment. 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 appear more seamless. Rather of referring viewers to another page to watch an influencer sell a product, creators 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 businesses and creators. As the holiday season approaches, it’s 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 apps starting today.
Meta’s principal source of revenue is currently advertising, but the company’s investment in shopping could provide a new source of revenue in the future.
Founder and CEO Mark Zuckerberg said this summer that until 2023, Meta will not take a part from the earnings of businesses 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 company is putting itself in a position to prosper in the future.