November 1, 2014

F-Commerce: Ogilvy on Facebook Commerce

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.

F-Commerce Providers

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).

I’ve embedded the slidshare slides below but I also wanted to highlight a few key points of interest, expecially for the Asian market. (thanks Socialcommercetoday for the summary!)

  • 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)

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Add comment “SOLD” to purchase! – (Real) People Powered F-Commerce

Work From Home Mums are showing us what social shopping on Facebook is all about.

f-commerce

My wife makes stuff. hair clips, t-shirts, quilts, soft toys, etc. She also loves shopping online, and spends hours and hours lots of time on Facebook.

But a funny thing happened the other day, we were sitting in the lounge room (she was on Facebook) and she suddenly cursed the air and said…

If I’d logged in [to Facebook] 5 mins ago I wouldn’t have missed that sale! Now all the fabric I want is gone.

My ears pricked up. I’ve been keeping an eye on the F-commerce, Facebook Commerce, Facebook shopping cart (etc.) developments over that last 12 months, not for any reason other than I think it’s potentially going to be huge!

The sad truth however is that I’d not seen a lot to really get me excited.  Sure there are ecommerce apps that you can add to your Fan pages (Payvment is awesome) and this is a huge step forward in terms of enabling purchases, but the whole shopping cart experience still feels destinctly ‘anti-social’. Do you know what I mean? A shopping cart is not inherently social (although you can ‘share’ purchases’), they’re transactional! Don’t get me wrong though I still think the e-commerce shopping cart apps on Facebook are great,  they just don’t excite me as much as I thought an integrated social ecommerce application would…

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