There may be a new button to join the ranks of ‘Like’ and ‘Share’ soon: Facebook is in the testing stages of a ‘Want’ button, allowing users to tag images of desired products that is then broadcast to their friends.
The social network is working with seven retailers, including Pottery Barn and Victoria’s Secret, to test this new feature. If it goes live, there lies a huge potential for all brands to drive online sales.
Facebook said in a statement: ‘People will be able to engage with these collections and share things they are interested in with their friends. People can click through and buy these items off of Facebook.’
This new feature has been dubbed ‘Collections’ and could open up new sources of revenue for Facebook. While a spokeswoman has stated that the company oes not receive a fee when someone purchases a wishlist item on Facebook from a retailers site, they have not addressed whether brands will be required to pay Facebook a fee to allow their products to be ‘Wanted’.
Facebook recently launched Gifts, where users can purchases presents for others, such as flowers or chocolates, easily through the ‘Birthdays’ section on the right hand side of the newsfeed. It seems that Collections may be an extension of this.
Facebook has recently come under fire for it’s long term financial prospects, with its stock prices continuing to drop. The launch of Collections, if it indeed goes ahead, may be another step in the right financial direction.