The team at Ogilvy have posted an update for their f-commerce providers benchmark as well as a more general overview of f-commerce. I’ve posted on f-commerce before and I will continue to do so as it is going to be fascinating to watch it develop over the next 12-18 months.
So, what is f-commerce? Essentially it’s the buying/selling of goods via social networks (specifically Facebook). In a broader sense we are talking about Social Commerce, buying and selling via social networks.
Sales can either be through Facebook directly of via Facebook/social integration with an external site (eg via the social graph).
- Global e-commerce is set to grow to $963 bn (19.4% p/a growth) in 2013
- By 2013 the largest regional e-commerce market will be Asia ($323 bn vs $235 bn, vs Europe $283 bn)
- The Web will be involved in 53% of total retail sales by 2014
- Currently e-commerce on social networks is small – 27% of consumers ready to buy physical goods on social networks.
- The 5 Benefits of F-Commerce: Customer Insight, Customer Experience, Customer Loyalty, Customer Advocacy, Facebook ROI
There are two types of F-Commerce:
- “On Facebook” (F-Stores, Facebook Credits, Facebook Deals),
- “With Facebook” (Facebook Ads, Custom Apps, Facebook Places)