Research released reveals the social networking site stands to offer £3.1bn in revenue opportunities over the next three years.
According to a study by Ecwid, UK consumers spent over £50bn on e-commerce purchases in 2011.
Although only 4% of consumers in Great Britain have purchased goods through Facebook, the research shows that 40% would purchase products from Facebook if offered a similar experience to an online store.
"While Facebook commerce may still be in its infancy, this study shows that it has the potential to grow massively," said Ruslan Fazylev, CEO and Founder of Ecwid. "Many businesses now have a presence on Facebook but relatively few have been able to successfully monetise it to date. It is now actually quite easy to set up a store on Facebook which offers the same experience as a traditional online store."
Ecwid estimates that over the next three years, 6.1% of all online purchases will be made through Facebook.
"Businesses that embrace f-commerce in the future are set to see a significant revenue boost," said Fazylev. "In fact, our figures show that businesses that sell from an f-commerce store alongside their traditional website have generated an additional 17.7% in revenue."
Consumers reported not seeing value in liking a brand’s Facebook page due to no incentives.
57% said that if they were able to receive special offers and discounts to use on a brand’s online store they would be more likely to ‘like’ a company’s Facebook page.
According to Ecwid data the average ‘like’ value for brands with successful f-commerce stores could be worth up to £13.70 each.
"Businesses to date have invested a lot of time in building Facebook pages and growing their communities," said Fazylev. "However, there still appears to be a missed opportunity for many businesses when it comes to users ‘liking’ their pages. As the research figures show, the majority of consumers don’t feel they are getting any value."
"However, by creating a Facebook page and store in which a ‘like’ provides values to customers, businesses ensure a more engaged customer who is not only likely to purchase more, but also to recommend their experience to their friends and networks," Fazylev added.
The study revealed that 40% of consumers reported their biggest turn off when buying online was a poorly designed online store, followed by lengthy transaction processes (39%), lack of Help or Contact us options (39%) and limited payment choices (27%).
"It is important for businesses of any size to ensure that their online store does not deter customers and provides a secure and easy to navigate purchasing experience," said Fazylev. "The e-commerce market continues to grow and it will be those businesses with the most user-friendly stores that will stand to reap the benefits."
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