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Facebook (FB) stock price is rising as Mark Zuckerberg announced the introduction of Facebook Shops which is a shopping feature available for free to users of Facebook, Instagram and Whatsapp.
Facebook Inc (NASDAQ: FB) has introduced Facebook shops. This shopping feature will allow users to create online stores in their profiles. Facebook CEO Mark Zuckerberg revealed this during a live video call. Facebook (FB) stock prices rose over 1% on the news yesterday.
Yesterday, Facebook (FB) stock was at $216.88 (+1.73%). Now in the pre-market, the stock price is $223.19. It means that it is rising by 2.91% at the current moment. On Coinspeaker, you can also find other market news.
The announcement of Facebook Shops came after the company had already started providing shopping offerings on Whatsapp and Instagram. This allows the increase of internal cashflow as growth rates slow in tandem.
The Facebook Shops feature will allow users to use both their Instagram and Facebook profiles to open up shops. The App also provides a checkout feature. It allows shoppers to make purchases inside their applications.
FB Stock Prices Rises as Facebook Shops Comes with Extended Features
Shoppers are also able to communicate with business owners. The avenues include Whatsapp, Instagram Direct, and messenger. Zuckerberg also indicated that the social network will work closely with merchant services provider Shopify. He also said seven other e-commerce platforms were involved as well. Facebook shops feature will be free for users.
Movement restrictions have increased online activities. Live video is a core part of this increase. Mark has indicated that online ads will also be integrated into the Shops feature. Product tags under the live streams form a core part of this strategy. Over 800 million people Livestream videos on both Facebook and Instagram.
Facebook and its allied platforms have seen an upsurge in usage. This is amidst declining growth rates. Younger users are now commonly seen to shift to other platforms such as TikTok and Snapchat.
This though hasn’t changed the fervor that the users on the three platforms have. The increased engagements mean that human digital identity is quickly forming. The closer the correlation to a persons’ actual identity, the better. This accuracy is what the advertising platforms look for when delivering ads to users.
Facebook Shops is completely free to use and implement. The ad services will make up for the shortfall in revenues that could have accrued.
Freemium Is the New Cool
This freemium model for technology services has served as a stable haven for growth. It could be the mainstay yet for technology companies for years to come. More people are turning to social media for just about everything. There is great potential for this kind of setup to be the order of the day for this decade.
We all know Mark Zuckerberg’s business side. It is only a matter of time before he gets the formula right for social media. Then again he is the new Wizard of Menlo Park.