Jack Cotter, social media expert for Dealerscope and CustomRetailer, helps retailers and manufacturers find the answers to their social media problems.
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Facebook has launched a "want" button, and that's big news for retailers with an eye on F-Commerce.
The "want" button is part of a new feature called "Collections," and rounding out the button set are "collect," and "like" buttons.
The collection idea is similar to Pinterest, as selecting a product will add it to a section on the user's profile. It is also reminiscent of gdgt, which lets users sort gadgets into "wants" and "has" sections on their profile page. If you want my thoughts on how all of these sites are evolutions of bridal registries, take a look here.
Tim Bradshaw and Barney Jopson of Financial Times suggested that the collections feature could eventually be connected to the "gifts" feature so that users can purchase items for themselves and others, directly through Facebook.
Facebook will not receive a fee when someone uses the "want" button, or makes a purchase from a collection.
For now Facebook Collections is being tested with a small number of retailers including Pottery Barn, Victoria's Secret, Neiman Marcus, Michael Kors, Smith Optics, Wayfair and Fab.com. You should be able to see the new "want" button in the top left corner of this picture in Pottery Barn's "collection."
For more information on social commerce, you may be interested in this interview with Chris Richards of Fanpage Toolkit.