Is Facebook Trying Its Luck In the E-commerce Industry?

The social media giant seems to be thinking of making another try to succeed in the e-commerce business which the analysts do not approve of.

According to the most recent Facebook news, it has come around that the social media giant is yet again trying to enter the e-commerce industry through its media site, something that is not being taken positively by the analysts covering the business and stock activities of the giant. The firm has already tried to carry out the same step before and even then things did not work out for the company.

Analysts believe that it is not taking its past in consideration and going towards this production without much insight. The media company only wishes to have users on the social media site for as long as it can be made possible which is why it is looking for new projects every day that will serve the purpose. However, this is something that the firm has already tried but did not find any success in it.

In the past, Facebook business experienced some harsh times related to the e-commerce industry. As per the records, the media firm initiated a project through which small companies could showcase their products on stores that they opened on the social networking site, and a pay online option was also granted to the user. However, it was seen that out of all the three stores that started business on the media site, all of them announced discontinuation of their activities on the site as things did not seem to be working according to plan. This incident showed that the efforts put up by the management of the company turned out to useless and a total flop. The recent news shows that the media giant still has not given up and wants to give another try in the business.

Facebook management recently announced that it will be introducing a buy button on its website through which users will be allowed to shop directly from the media site without going over to a third page or another party. This shows that the firm will be becoming a platform through which users will be able to make direct buys of products that they see on the site.

The fact that the site has a massive 1.5 billion users now is not ready to make the analysts change their minds about how the firm should not be coming in to the business all over again and how it is not going to work for it. The analysts have also started calling it the ‘f-commerce’ business in which the ‘f’ is being used for flop. The firm needs to re-evaluate its decisions of going into the business before things go out of hands again.