Facebook and eBay have announced today at the Innovate, eBay’s developer conference, being held today through Friday in San Francisco, that the companies will be joining forces to create a new social shopping experience for consumers and Facebook users, with eBay integrating Facebook’s Open Graph 2.0 into its commerce platforms.
The new global commerce systems will come under the umbrella of a new business unit called X.commerce and include eBay, PayPal, and Magento. This integration aims to revolutionize the way people shop online by leveraging the power of social media to enhance the shopping experience.
The Power of Social Commerce
In an interview with CNET, Matthew Mengerink, vice president and general manager of X.commerce, explained: “Facebook is now linked into the largest commerce ecosystem,” – “eBay has more than 850,000 developers and more than $60 billion is transacted on eBay annually. And eBay’s marketplace has 25 million sellers and 97 million active users globally.” This partnership is set to harness the vast reach of Facebook’s social network to drive more personalized and engaging shopping experiences.
The use of Facebook’s Open Graph 2.0 will now enable eBay’s developer community to build social commerce applications on Facebook that allow users to go beyond merely “liking” products. Katie Mitic, Facebook’s director of platform and mobile marketing, said, “This takes word-of-mouth marketing and puts a bullhorn to it,” emphasizing the potential for social recommendations to significantly influence purchasing decisions.
Enhancing User Experience
The integration of Facebook’s Open Graph 2.0 into eBay’s platforms means that users will be able to see what their friends are buying, wish-listing, and recommending. This social layer adds a new dimension to online shopping, making it more interactive and community-driven. For example, if a user is looking for a new camera, they can see which models their friends have purchased and read their reviews directly on eBay. This not only helps in making informed decisions but also adds a level of trust and authenticity to the shopping process.
Moreover, the collaboration between Facebook and eBay is expected to introduce new features such as social sharing of purchases, group buying options, and personalized shopping recommendations based on social data. These features aim to make online shopping more enjoyable and efficient, catering to the preferences and behaviors of modern consumers.
The new X.commerce unit will also focus on providing tools and resources for developers to create innovative social commerce solutions. By integrating PayPal and Magento, the unit aims to offer a comprehensive suite of services that cover everything from payment processing to inventory management, making it easier for businesses to adopt and benefit from social commerce.
The partnership between Facebook and eBay marks a significant step forward in the evolution of online shopping. By combining the strengths of both platforms, they are set to create a more connected and engaging shopping experience that leverages the power of social networks. This collaboration not only benefits consumers by providing more personalized and trustworthy shopping options but also offers businesses new opportunities to reach and engage with their target audiences.
Source: Innovate : CNET
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