Facebook social media meets online shopping

Lifestyle

Facebook is not just a place for socializing with friends and family.

There are over 200 million active members and Facebook is growing every week by about 300,000 to 500,000 new members. And of the active member, 70% of them engage with one or more of the 52,000 applications available on Facebook.

Facebook may be the next big online shopping website. Really? Hard to believe, but according to the Financial Times, 20 major retailers will be there for this holiday season.

Just think the power of Facebook put to work for the shopping experience. The first place women turn for advice on a purchase is their friends and family. By combining this, you really do have one stop shopping.

A retailer can create events using the network, engage using discussion boards and reviews, create fans and buzz, and with video create excitement.

Here’s a couple of examples:

My Shopping is a new application on Facebook that’s getting a lot of buzz. It connects Facebook users with Shopping.com and Amazon product databases. My Shopping is designed to let users search millions of products, link to buy pages of retailers, rate and mark items they’ve purchased, and earn commissions when visitors to their profile page purchase items mentioned on the page.

And PayPal developers have a new API that will allow them for the first time to link to PayPal to handle payments without going to the PayPal site.

And Facebook is testing expansion of its Gift Shop using Facebook currency and it’s not just selling Facebook gifts. GIfts created by developers will be integrated into the Facebook Gift Shop alongside regular Facebook virtual gifts, marked with the developer’s logo or icon. In the case of virtual gifts, the price will usually be 10 Facebook Credits or USD $1, the same price as most virtual gifts created by Facebook. However, physical gifts – for instance, say a dozen roses – might cost up to 500 Facebook Credits, or USD $50. When users select a physical gift, they’ll be prompted to enter the delivery address in line, just like in a traditional shopping cart experience.



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