Speakers at the OnMedia NYC conference have attempted to pinpoint the reasons behind a number of brands' decisions to close their Facebook stores after just over a year, according to an article published by Search Engine Watch.
Although a popular platform for social media marketing campaigns, Facebook has seen Gap, JCPenney, Nordstrom and GameStop all close their stores on the site.
CEO of 500Friends, a company offering social loyalty technology specifically designed for retailers, Justin Yoshimura, speaking at the conference, highlighted common misconceptions about the social networking site amongst businesses.
He said: "Opening a storefront does not mean you have a social commerce strategy. Consumes want to shop on your store and want to interact with your brand on Facebook."
The speakers at the conference, according to SEW, speculated on the reasons behind the closures, concluding that:
- "A brand's e-commerce website typically gets more visitors than its Facebook page."
- "Facebook commerce shouldn't be narrowly defined as storefronts. Instead it encompasses other activities, such as loyalty programs and rewards."
- "And commerce on Facebook is still in its experimental stages."
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