Recently, Meta has taken an important step in the field of e-commerce – the Shop (small shop) business of its social media platforms Facebook and Instagram will move from “external chain” to “closed loop”. The feature will first be tested in the United States, and then gradually rolled out to 21 markets, including Australia and Brazil. Meta this additional code e-commerce, or become a new growth point in its performance.
A few days ago, some merchants received an email notification from Meta that consumers shopping through Facebook Shop and Instagram Shop will be able to achieve direct checkout on the site, rather than jumping out of the App to complete the purchase on an external site. After April 24, 2024, Meta will no longer support shops that do not have an in-store checkout function.
According to the notice, the move is intended to provide consumers with a seamless shopping experience. Small store merchants can manage orders, process returns and more in the Shopify system after opening the on-site checkout function; Gain detailed user data insights; Set any return window; Get customers to subscribe to emails, etc.
According to official information, at present, Meta’s small store still needs to rely on Shopify or other partner service providers to create, and provide the corresponding e-commerce basic services. This means that Meta’s e-commerce business is similar to a “semi-closed loop” state, rather than a “closed loop” like domestic Tiktok and Kuaishou – building its own e-commerce platform, improving infrastructure, allowing merchants to directly enter and extract transaction commissions.
According to the data, the size of the US social e-commerce market in 2022 is 53.1 billion; It is expected to grow by 30% in 2023 to nearly 70 billion, and by 2025, the number will reach 100 billion, accounting for 9% of the global size. By 2026, social e-commerce in the United States will grow twice as fast as in China. It can be seen that Meta’s prospects on the social e-commerce track are still very broad.
Compared with domestic platforms, Meta’s shopping methods are similar to those of Tiktok, both of which have the attribute of “interested e-commerce”. Manufacturers can set up special shopping pages in their accounts. The main difference is that Tiktok has its own relatively complete e-commerce supporting modules, including Tiktok stores, a huge series of marketing tools and logistics list system, which go deep into many key links of e-commerce.
Post time: Jul-07-2023