Facebook this week is expanding its live shopping opportunities, building on its Live Shopping Fridays that debuted this summer, per a Thursday (Nov. 4) report in Digiday citing Facebook Shopping Business Product Marketing Lead Kate Gronso.
“For shoppers this holiday season we hope our live shopping programming can provide an easier way to purchase gifts without having to make a trip to the store,” Gronso told the news outlet in an email response.
Facebook and Instagram users can access the daily live shopping holiday series to see exclusive drops, deals and make purchases from the app using Facebook Pay. Walmart and Macy’s will participate in Facebook’s live shopping expansion, as will beauty brands including Cocokind skincare, Ulta Beauty and Benefit Cosmetics.
Digiday cites Wunderman Thompson estimates that livestreaming sales will be $500 billion by 2023. YouTube recently joined the social commerce mix as live shopping in the U.S. tries to reach the levels it’s hit overseas.
“Facebook is well-positioned as one of the most scaled platforms and its investment in live shopping is well-timed,” Aaron Goldman, CMO at global tech company Mediaocean, told Digiday in an email. “The social element makes it easier for products and streams to be seen and shared.”
Related: Facebook Pins Its 2022 Hopes on the Metaverse, New Ad Tech and eCommerce Tools
Last week, during Facebook’s quarterly earnings call, CEO Mark Zuckerberg called eCommerce a top priority, adding “helping people discover new products that they’re interested in and reach customers inside our apps [is] going to unlock a lot of opportunities.”
Facebook plans to add more eCommerce tools in the fourth quarter of fiscal 2021, including more and larger online shops and sellers. The company recently debuted its EssilorLuxottica Ray-Ban Stories smart glasses, but Zuckerberg said “this isn’t about building one glasses product. There’s a whole ecosystem” that will include AR/VR wearables and new digital experiences.
Facebook Chief Operating Officer Sheryl Sandberg said “strong eCommerce growth in recent quarters driven in part by the acceleration of digital transformation is now tapering off” as COVID-19 pandemic effects ease and consumers do more physical shopping.
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