Facebook is adding a new feature to the social network that revolves around retail recommendations. For example, you may see something along the lines of “Fifty-four people in your network have bought Freakonomics” in the news feed.
As Facebook users buy music/movies/books/etc. from retailers and report that they are doing so, marketing departments and agencies could potentially use this information to pass set up advertisements around those users’ tastes.
The retail recommendation feature will only be one feature mentioned in the upcoming Facebook announcements. More is expected to be announced on Tuesday, November 6.
The business advisory company Deloitte & Touche revealed in a study that 60% of Americans depend on online reviews to make purchases. By showing recommendations from your friends, this could help drive retail sales.
