New Internet memes are born every day. So when you hear the term "fcommerce" for the first time, you are likely to go "ho hum!" However, this new kid on the block is worth a second look.
Fcommerce refers to ecommerce on Facebook. This could involve selling goods on Facebook itself, or driving Facebook traffic to your ecommerce website.
Over a decade ago, retailers set up catalog websites with the hope of driving more traffic to their physical stores. Soon they realized the futility of that strategy and started selling online. That was the birth of ecommerce.
Today, fcommerce is at a similar point in its history. Many retailers are using the social platform to interact with consumers, and drive traffic to their ecommerce websites. History is repeating itself and some players have started transacting on Facebook itself.
Some of the major players who have set up stores on Facebook are:
- Warner Bros
- Starbucks
- Coca-Cola
- Nike
- Disney
- Pampers
David Dorf, Senior Director at Oracle Retail, calls 2011 "the year of fcommerce." I agree with that, and foresee the second half of 2011 as the inflection point when fcommerce will really take off. The reasons are not difficult to find. Facebook as a business platform has a lot going for it:
- audience
- technology
- credibility
- loyalty
- brand
As a keen observer of all things ecommerce, I have noticed an interesting phenomenon. Now, there are as many new Internet articles on fcommerce every day, as there were every week last year. I see this as a sign of increased fcommerce interest in the coming days.
Would you be more inclined to buy on Facebook, or on a branded ecommerce website? Do share your thoughts in the comment box below.
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Comments
Ok, so we have e, m, and f commerce. What else?
@Forever, that is really funny. Maybe BS-commerce
F-commerce is here to stay. While this seems like eCommerce in a new bottle, I agree with the author’s premise that as customers start to spend more time on Facebook primarily for social reasons, they will also want the convenience of purchasing in a social setting with social validation – similar to an real-world purchase in a store.