Facebook Shops
Unpacking the Economic Impact of COVID 19 on SMBs in South Africa
One in two small and medium-sized businesses (SMBs) in South Africa has yet to see revenues recover to pre-pandemic levels, according to the latest edition of Facebook’s Global State of Small Business Report. 50% of operational South African SMBs on Facebook reported that their sales in February were lower than the equivalent month last year. Some 74% reported that they were operational or engaging in any revenue-generating activities, while 8% of operational SMBs on Facebook expected challenges related to cash flow and 20% expected challenges related to demand or a lack of customers in the next few months. Continuing trends observed throughout the pandemic: Women-owned South African businesses have been hit especially hard. Some 71% of women-led SMBs (vs. 77% of men-led SMBs) on Facebook ...
Facebook Adds New Shopping Tab to App
As part of Facebook’s plan to create a place for users to discover businesses and shop for products, it is testing a dedicated shopping tab within the main app. “During the COVID-19 pandemic, the shift to online shopping has rapidly accelerated, with an estimated 85% of people worldwide now shopping online,” says the social platform in an official blog post. “We want to make shopping easier for people and empower anyone, from an entrepreneur to the largest brand, to use our apps to connect with customers and grow their business. That’s why we’re creating new ways for people to shop on our apps and providing tools to help businesses sell online.” The new tab is currently only available in the US. /* custom css */ .tdi_3_ee0.td-a-rec-img{ text-align: left; }.tdi_3_ee0.td-a-rec-img img{ margi...
Facebook Unveils Shops – its New eCommerce Feature
Facebook has launched its latest eCommerce feature – Shops – which will enable businesses to set up an online store for customers to access across Facebook and Instagram. The company says that it is investing in features that inspire people to shop and make buying and selling online easier. This comes at a time when many businesses are struggling to keep their doors open due to the unprecedented impact of the COVID-19 pandemic on social and economic activity. One way that they’re able to survive is by taking their stock online – something that Facebook CEO, Mark Zuckerberg says they’re seeing a lot more. “If you can’t physically open your store or restaurant, you can still take orders online and ship them to people,” he says. “We’re seeing a lot of small businesses that never had online bu...
