Facebook is looking to be much more than a social platform. In fact for the last few years they have had their sights set on becoming an ecommerce platform. Facebook would like to begin hosting stores on popular Facebook pages of retailers and take their cut of financial transactions.
Facebook intends to handle the entire shopping experience, including checkout. It’s not clear what the process of shopping on Facebook will look like, but a mockup that it shared above makes browsing items look like it could be much the same as browsing through an image gallery. That’s a sensible place to let companies direct people toward making a purchase — it’s a bit like what Pinterest has been trying — and it’s likely that some stores are already interested in enhancing their Facebook Pages this way. Just yesterday, Business Insider Intelligence said it had found that Facebook referrals are leading to more e-commerce revenue than any other social network, which just goes to underscore how much of an opportunity the site has.
While Facebook has tried a variety of ecommerce experiments previously it is uncertain if this will work, it completely depends on whether Facebook’s development team can properly execute on their plans and get a healthy adoption rate by both retailers, and users.