Posted by Fortune on November 16, 2019 07:29:52 Facebook has been one of the most visible players in the online-retail space, and now it’s looking to grow its business beyond Facebook by collaborating with retailers on an ecommerce business.
Facebook said in a blog post Tuesday that it will start work on an enterprise ecommerce marketplace called Facebook Marketplace, which is expected to launch in 2018.
The post said Facebook Marketplace will allow brands to sell to a broader audience than Facebook currently allows them to sell directly to consumers.
Facebook has previously partnered with several retail partners, including Target and Walmart, to build ecommerce businesses.
According to the blog post, Facebook Marketplace “will be built on the same core platform and will support the same types of commerce and payment solutions as Facebook Marketplace,” and Facebook Marketplace is expected “to bring a number of new capabilities to the platform.”
The partnership will include Facebook Marketplace’s “brand manager” in each store, who will act as the platform’s “face and lead brand,” the blog said.
“As part of our relationship with Facebook, we’ll have access to Facebook Marketplace assets to help us build an ecosystem for this new enterprise eCommerce platform,” Facebook CEO Mark Zuckerberg said in the blog.
Facebook will work closely with retail partners on building the platform, and will provide “support and support to them as they build the platform,” the company said.
Facebook said it will work with “some of the leading retailers in the U.S., such as Walmart and Target,” to “provide a great shopping experience” for consumers.
The platform will “offer the ability to easily and securely pay for products online, allowing brands to build a real online presence and build relationships with consumers,” Facebook said.
Facebook Marketplace plans to work on a variety of products, including “books, magazines, apparel, clothing, and more.”
Facebook announced a partnership with the American Express company in December 2019, and said it was partnering with American Express on ecommerce.
“We want to help brands create better experiences online by building the most effective and effective online store experience,” Facebook’s Chief Strategy Officer Eric Anderson wrote in a Facebook post.
“We’re working with American Exchanges to build this platform.”
The company also said that it has been working with a number other ecommerce platforms to build an eCommerce marketplace.
Anderson said that Facebook Marketplace was the first of the new partnerships that Facebook will be partnering with.
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