Infographic: The history of F-commerce
Brands have been hawking product on their Facebook fan pages for no more than two years now and yet the promise of F-commerce has the retail world buzzing. One prediction says social commerce will top $30 billion globally by 2015 with Facebook-generated sales one of the primary drivers. Certainly brands like Gap, Delta Air Lines and 1-800-Flowers.com have seen some returns on their early investments in setting up a shop window on the world’s busiest social network.
As we arrive then at the two-year anniversary of the first Facebook transaction – a $34 bouquet of flowers off 1-800-Flowers – SMI went back to the origins of the social network and looked at the milestones that have built it into an ascendant force in online retail. The brief, but event-filled history brings with it some doubts too. For example, despite the billion-dollar predictions, only a small percentage of retailers are actually transacting on Facebook and consumer doubts linger about the sharing of their credit card details with a Facebook merchant. In other words, it sounds a lot like the early days of consumer e-commerce in the late ’90s.
We’re telling the brief history here in the form of an infographic researched and designed by SMI’s Sonia Malpeso.
Editor’s Note: The story of social commerce is still being written by the successes and, yes, failures of digital marketers. There have been some big screw-ups already. Check out our latest book on this topic: #FAIL: The 50 Greatest Social Media Screw-Ups and How to Avoid Being the Next One. It chronicles another kind of social media pioneer, those brands that have made iconic, early stumbles in social media that have resulted in consequences well beyond a loss of a few “friends” or “followers.”