Zuckerberg says Facebook does not yet compete with Amazon in online commerce

Facebook will boost its online sales platform aimed at companies. According to the CEO and founder of the social network, Mark Zuckerberg, Facebook Shops is working to implement improvements in virtual reality and augmented reality that allow companies to boost their business.

“It is an area that I am excited about. There are more than a million stores active today and hundreds of millions of people who are interacting with them. But what we’re really trying to do is get any business, and especially small businesses, to be able to showcase online across our entire family of apps, so that you create a storefront and Instagram, Facebook, and WhatsApp and Messenger are active. and potentially in the future in any of the jobs we are doing in virtual and augmented reality “, he explained Zuckerberg during his participation in the VivaTech event that takes place from Tuesday to today in Paris.

And, online commerce has taken off in the last year as a result of the pandemic. “Much of the commerce has shifted towards the online channel. In fact, it has been a lifesaver for many companies and we are proud to be able to serve them during this period. It is still very early, there is much more we want to do in this field, but electronic commerce will continue to grow ”, he indicated.

However, Zuckerberg acknowledged that the company is not yet competing with Amazon for scratching part of the gigantic business of online commerce. “There is a lot of competition and I do not think we are making a dent in Amazon yet,” he valued. In any case, he pointed out that the Facebook Shops model is based on partnerships with third-party services, such as Shopify, BigCommerce, WooComerce.

Facebook launched the Shops platform in May 2020, at the time of the global crisis due to the pandemic. Through this platform, the social network allows any business to create a virtual store so that users can purchase items without leaving Facebook or Instagram. The stores are free for businesses, as Facebook’s intention is for the tool to be driven by consumer use and advertising.

Virtual reality and augmented reality

Mark Zuckerberg advanced that two of the great future bets for Facebook’s business will be virtual reality (VR) and augmented reality (AR). In this sense, he explained that currently video games are the main use of virtual reality, but that there is potential in areas such as social experiences or fitness, through subscriptions.

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