Report: Facebook testing digital stores
Menlo Park, Calif. – Facebook is increasing its buy-in for the high-stakes poker game of social commerce.
According to BuzzFeed, Facebook has begun piloting online storefronts located within the pages of a number of retailers.
Some of the storefronts allow direct purchases from within Facebook using the social platform’s buy button, which Facebook began piloting in July 2014. The buy button lets desktop or mobile consumers click the “buy” call-to-action button on ads and page posts to purchase a product directly from a business, without leaving Facebook.
A Facebook spokesperson said the number of Facebook storefronts is currently in the “double digits” and will expand. Facebook does not currently take any percentage of sales conducted through its pages.
Facebook’s push into social commerce comes as Google is deploying the “buy” buttons it announced earlier this year on a test basis in the next few weeks. The feature, called Purchases on Google, will allow consumers to purchase products directly from ads in select promoted mobile search ads.
Will Amazon buy start-up rival even before it takes off?
Seattle –Amazon.com may be preparing a pre-emptive strike against a rival e-commerce platform before it even officially takes off.
According toCNBC, Piper Jaffray Internet analyst Gene Munster says Amazon s considering a purchase of Jet.com, a subscription-based e-commerce site that is currently in beta and set to officially launch next week.
Munster said that Jet.com does a good job in gamifying the online shopping process and in selling fast-moving consumer goods, two things Amazon has not historically done well.
Jet.com hopes to compete with the Amazon Prime membership service using “profit-free” pricing. Jet promises to offer the best price on more than 10 million items, every time. Retailer partners will sell through the Jet platform on a varying commission schedule. Jet also promises to refund the difference if a customer finds a lower price elsewhere (but doesn’t specify a time limit). Membership is $50 a year, but Jet says the average member will save $150 per year. Shipping and returns will be free.
Because Jet only makesprofiton membership fees, the retailer does not attempt to make any money on product prices, hence the lowest price guarantee. A real-time pricing engine will find the lowest price on any item and calculate savings in real time.
Jet CEO Marc Love has experience in cutting lucrative deals with Amazon. He founded Diapers.com, which he eventually sold to Amazon for $550 million.
Online retailer taps former Borders CEO, Staples exec as chief executive
New York — The former head merchant for Staples and former CEO of Borders has been named president and CEO of eBags Inc.
The eBags board of directors appointed Mike Edwards as president, CEO and member of the board of directors effective immediately. He also joins the company as a new investor.
Edwards most recently held the position of executive VP of global merchandising for Staples Inc.
"There is no better person to lead eBags than Mike Edwards," said Jon Nordmark, co-founder and chairman of the Board of eBags, Inc., which also owns Handbags.com. "Mike is a proven leader with outstanding merchandising, marketing and omnichannel skills. He's a visionary, adept at working in companies from $7 million to $22 billion in revenues. “
At Staples, Edwards was responsible for the merchandising strategy and new business development, assortment planning, as well as vendor programs for the retail, online, and contract sales divisions. Over three years, Edwards helped expand Staples assortment from 33,000 to 1.5 million SKUs and formed partnerships with such brands as Apple and Bose.
Prior to Staples, Edwards joined Borders in September 2009 as executive VP, CMO and was appointed president and CEO of Borders, and president, Borders Group in 2010 through 2011.
"I could not be more enthusiastic about joining the eBags team,” Edwards said. “The potential to build on the strong platform of ecommerce and mobility will fuel global growth. I am excited to lead the talented eBags' associates during the next stage of success for the company. In addition, I am passionate about the bag category and travel space, and look forward to eBags continuing to provide the best customer experience in the industry."