Dive Summary:
- Facebook has announced its Gifts offerings and will no longer sell physical merchandise through the popular social media site. The company says it will now offer gift cards for purchase by its users exclusively.
- According to details published for Internet Retailer, the decision to forego the sale of physical goods is based strictly on lack of interest from its users.
- “Since launching Gifts last year, roughly 80% of gifts have been gift cards… So we're now adding more digital codes and making the Facebook Card redeemable at more merchants,” says a Facebook spokesperson.
From the article:
Facebook Gifts is the social network’s broadest attempt to enter e-commerce. But like an earlier foray—Facebook Deals, which launched in 2011 as a Groupon-like daily deal service that sold limited-time deals that focused on social experiences—it posed a slew of new challenges for Facebook.
