Tuesday, December 21, 2010

Social eCommerce Ramping up...!

Looks like Facebook is fast becoming the Second Home for most people in the world...:-).

Here is a news on how Facebook is ramping up its E-Commerce Drive. It is stated that Facebook is talking to lots of big/small vendors to introduce new eCommerce services in the social networking site. Though Facebook has a tiny market compared to Amazon or eBay in eCommerce, the future looks promising when looking at the possibilities of the platform.

Some of the interesting ideas that we could see in Facebook around eCommerce - recommendations of products by friends, more personalized recommendations based on individual's preferences, feedback on people's walls on the products that are bought/sold from specific vendors - All these can complement a conventional online puchasing experience. And I believe this emerging paradigm will shift the focus from product to the person (buyer) and his preferences.

One of the latest innovation that caught my attention is the GroupGift idea by eBay. It lets people pool in their money to buy a collective Gift, like people usually do in real life.

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