Facebook's Newest Facet: 'Collections' and the Aspirational 'Want'

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By: Jennifer Stack

The Internet introduces Facebook’s newest facet, “Collections,” which details a very intriguing “Want” button, an update in the evolution of the ever-changing world of e-commerce, courtesy of Facebook.

The “Want” button allows retailers to give their potential consumers the resources to display their wish lists within their Facebook profiles via the integration of the function within websites. According to Business Insider, we will soon see the latest and greatest addition of social media validation within “seven retailers — including Pottery Barn, Victoria Secret, and Neiman Marcus — to test the platform which allows users to "want," "collect," or "like" a product. Note: if you "like" something, then the item will show up in your Timeline.” Currently in testing phases, the Facebook utility is not yet available to all retailers for implementation.

The bridge from the button to the buy is short, as detailed in a statement Facebook made

“People can click through and buy these items off of Facebook,” indicating a potential revenue stream for the generation of leads from Facebook. However, Facebook’s implementation of e-commerce revenue streams was discounted upon the publication of a Financial Post article that reports, “A Facebook spokeswoman said the company does not receive a fee when someone purchases a wish list item on Facebook from a retailer’s site.”

Not only is this addition to Facebook a clear foray into e-commerce, it also represents an ode to one of the hottest social networks of 2012: Pinterest, which birthed a myriad of copycats and aspirational lifestyles through curation. Facebook is enabling users to do what they do on Pinterest — create their dream lives online through aggregation without spending a dime.

The future of Facebook’s Collections is unclear. Unlike the purpose, which is a initiative to collect further demographics about the user, which can in turn be monetized and sold to marketers eager to learn their target audience’s psychographics and purchasing decisions.

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About the Author

Jennifer Stack is a Social Media Strategist at a digital advertising agency. She was a 2011 Notable.ca YP Social Media Finalist. International Marketing Communication, MA. International Marketing Strategy, MSc. LinkedIn + Twitter.

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