With Facebook
Inc(NASDAQ:FB) slowly inching towards the magic figure of a billion in terms of
users, the gift feature can turn out to be a major money-maker as it will be a
powerful platform using both social media and online shopping. Analysts have
come up with a brand new term, exclusively for the social network, called
F-commerce.
Users don’t have to be
satisfied with virtual gifts any more because now they can receive real gifts
like stuffed animals, Starbucks gift cards, and cupcakes from their friends on
special occasions. This is yet another attempt on Facebook’s part to improve
their cash flow and give a boost to their stock price. The promo on Facebook’s
official Gift Page looks promising and the best part is that gifts can be sent
to friends even if their addresses are unknown.
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The service will begin in the US and this is
how it works – users click on the friend’s name that will come up in the
birthdays news feed. A list of the hundreds of gift items available will appear
on the screen from where they can select the gift. A card will also be attached
along with it. A prompt for gifts will be displayed on the users’ Timeline on their
birthdays as well.
The virtual equation
still remains as the user gets a chance to virtually “unwrap” to sneak a
preview of the gift and decide to keep it or politely refuse. Payment is
flexible and can be done immediately or after the gift has been delivered. The
choice of the delivery location depends on the user’s friend. Privacy
issues have been addressed by leaving the choice of sharing this activity with
other friends, to the user.
Rebecca Lieb of the Altimeter Group states that
both F-commerce and mobile commerce will get a powerful surge if this new
venture is successful. But a minor hiccup has to be dealt with – there are
concerns about Facebook getting personal details of the recipient like an
address and contact details and thus targeting them to increase the number of
users on the social network.
Shares of FB soared 6.60% to $21.66 on Friday,
but still down 5.25% for the week.
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