Despite being the undisputed king of the social networking sites, Facebook (News - Alert) is still working hard to make itself a place where retailers turn in order to juice their revenue. Facebook has been working hard over the last few years to find the silver bullet that would bring more and more retailers to their site.
The company has already been able to brag that they have beaten out other Internet giants like Yahoo when it comes to people who watch their videos. Now, the company is putting together a program that strikes many as being a direct competitor to Pinterest.
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This new program, called Facebook Collections would allow retailers who have their own Facebook pages to add “want” or “collect” buttons to their new feeds. This would then allow the average Facebook user to select the items they want and put them on a “wishlist” on the users’ individual page. Once they have been saved on the pages, the users can go back and click the “buy” button and quickly and easily be able to get whatever products are on their wishlists.
At the moment, just seven retailers have the ability to do this, including Pottery Barn and Fab. In order to try out the Collections function, people need to like the particular retailer they want to make a wish list for. They can then go to the store’s newsfeed and start picking out things that they would love to have. This is actually one step above what Pinterest allows you to do, and it’s this feature that makes some think that Facebook is looking to knock off one of its bigger competitors in the near future.
For retailers, this would be another way for them to get word of mouth advertising through the social networking scene. Fans of stores can show their friends why they like those stores by showing off the products they like the most. This sort of move could bring more retailers to the social networking giant fairly quickly should Collections turn out to be a valuable tool.
Edited by Brooke Neuman