SPY295.44+0.56 0.19%
DIA244.88-0.14 -0.06%
IXIC9,324.59+39.71 0.43%

What We Know About Facebook Shops

Social media giant Facebook, Inc. (NASDAQ: FB) introduced Facebook Shops on Tuesday, a platform meant to help companies sell their products on Facebook and Instagram.

Benzinga · 05/19/2020 19:15

Social media giant Facebook, Inc. (NASDAQ: FB) introduced Facebook Shops on Tuesday, a platform meant to help companies sell their products on Facebook and Instagram.

Facebook Shops: What You Need To Know

Facebook Shops is a free service where businesses can list their products for sale on their Facebook Page, Instagram Profile, Stories or in ads. The service will be expanded over time to include WhatsApp, Messenger and Instagram, Facebook said. 

Companies will set up one single online store that can be customized with cover images and patterns that best showcase the brand.

"This means any seller, no matter their size or budget, can bring their business online and connect with customers wherever and whenever it's convenient for them," according to Menlo Park. 

Facebook's Effort To Make Shopping 'Seamless'

The new feature comes at a time when small businesses are struggling, stores are closing and owners are rushing to better embrace e-commerce.

"Our goal is to make shopping seamless and empower anyone from a small business owner to a global brand to use our apps to connect with customers," the company said.

What's Next For Facebook Shops 

Facebook also said it is working more closely with partners like Shopify Inc (NYSE: SHOP) to better give small businesses the support they need.

Shopify and other partners will be in a better position to help small businesses build and grow their Facebook Shops and use other commerce tools, according to Facebook.
Facebook shares were trading 2.58% higher at $218.69 at the time of publication Tuesday, while Shopify shares were up 2.11% at $753.30.

Related Links:

Wall Street Weighs In On Facebook's Big Quarter: Innovation Accelerates Amid Pandemic

A Low-Cost, FAAMNG-Heavy ETF For May