Facebook recently acquired Packagd, which is a startup company that specializes in video shopping. A spokesperson for Facebook stated that the company is, "exploring ways to let buyers easily ask questions and place orders within a live video broadcast." The ability to make buy items on video content streamlines the purchasing process for users on the platform and it could be a popular option for Facebook users in the future.
Facebook's acquisition of Packagd will help the company to build video shopping capabilities for the platform. Previously Packagd worked with YouTube in a similar capacity. Additionally, the acquisition signifies a new direction that Facebook is taking. The social network appears to be prioritizing e-commerce and transactions on the platform. This could help Facebook obtain additional revenue sources outside of digital ads.
Social Media Video Shopping
Facebook Purchased Packagd to Bolster Transactions on the Platform
Trend Themes
1. Video Shopping on Social Media - The integration of shopping features into social media video content presents an opportunity to engage users with more interactive and personalized shopping experiences.
2. Live Video Broadcasting - Integrating live video broadcast with e-commerce creates novel and innovative ways to reach customers and generate revenue.
3. Social Media E-commerce - Facebook's foray into video shopping marks an emerging trend of social media platforms prioritizing transactions and e-commerce capabilities.
Industry Implications
1. Social Media - Social media platforms like Facebook are well-positioned to integrate video shopping and e-commerce capabilities.
2. E-commerce - The integration of video shopping and live broadcasts with e-commerce presents a new avenue for generating revenue and reaching customers.
3. Marketing and Advertising - The integration of video content and e-commerce presents new opportunities for marketing and advertising products and services on social media platforms.