The move will also give the social network access to more data across the marketing funnel.
This piece says that the recently announced feature is timely as it comes during a time when small businesses are vulnerable due to the pandemic. It will not only accelerate digital adoption but also help in capitalising on the community spirit forged due to the crisis.
The new digital storefronts will also allow small business to overcome limitations of physical location. Exposure to new customers, cultures and potential partner will ultimately change the business model of local shops.
While the increasing digitisation of the storefronts will lead to less perusal of stores, it will at the same time lead to more spontaneous purchases. Customers will increasingly be inspired by their influencers, friends and the shop itself to buy at the spur of the moment driven by newsfeed images.
[4 minute read]