Facebook is again trying to build a shopping empire, and Zuckerberg is at the forefront
Facebook is making another run at building a shopping empire - and this time it has the direct involvement of the company's most important executive, Mark Zuckerberg.
"This is really the first very major push that we're going to be making into that next step around commerce," Zuckerberg said in an interview on Monday. He also highlighted the importance of Shops for small businesses, almost all of which are operating exclusively online during the COVID-19 pandemic. The "vast majority" of Facebook advertisers are small businesses, Zuckerberg said, so ensuring they can operate is important to Facebook's business as well.
What's unknown is whether this added attention will lead to a different outcome than Facebook's prior shopping efforts. Facebook has been good at helping people find new products through ads, but has never succeeded at becoming a place people go specifically to shop, Zuckerberg concedes. He's also learned lessons from previous commerce attempts, including the importance of making it as easy as possible for retailers to sign up.
Facebook has been good at helping people find new products through ads, but has never succeeded at becoming a place people go specifically to shop,Facebook Australia director Naomi Shepherd said the company has fast-tracked the changes in the wake of the COVID-19 pandemic.
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