Originally posted on scmp.
- Facebook is launching Shops, a service that will allow businesses to display and sell products on the world’s largest social network’s platforms
- The move to build up e-commerce offerings follows Facebook’s launch last year of limited shopping options on Instagram and WhatsApp
Zuckerberg also said the world’s largest social network would be working more closely on product integrations with Shopify and seven other online commerce platforms going forward. He had Shopify CEO Tobias Lütke join him in a live-streamed video announcing the partnerships.
“Our business model here is ads,” Zuckerberg said. “Rather than charge businesses for Shops, we know that Shops are valuable for businesses. They’re going to in general bid more for ads and we’ll eventually make money that way.”
Facebook is also rolling out a tool to connect loyalty programmes and a shopping feature showing product tags underneath live videos, allowing viewers to make purchases while watching. Zuckerberg said more than 800 million people engage with live videos daily across Facebook and Instagram.