Payvment Facebook Application’s Utility to Small Retailers
Payvment, the application that allows people to sell products on their Facebook pages, recently unleashed a new API in their launch of new tools for retailers and online product catalogs. Yesterday, the application demonstrated its ability by releasing its first export tool, which allows Payvment users to import Etsy inventories right onto Facebook for easy selling.
The Etsy import tool launch marks the beginning of a possible trend of small eCommerce businesses importing and exporting goods to and from Facebook. Retailers that do not have their own websites can create mini-stores by utilizing this Facebook application.
Payvment’s Utility to Small Retailers
For shoppers, the Payvment-Facebook experience is a typical virtual shopping cart which uses the general ‘view item, add to cart, enter payment info, check out’ process that most online stores use, which is good for smooth transitioning from traditional online shopping to Facebook shopping. While this easy switch doesn’t affect customers much, the application does make it more simple for individual and small to mid-size retailers to sell products easily. Sellers can create an eCommerce store right on Facebook, and easily enjoy the direct impact and usage of Facebook data by seeing (and being able to reward) customers who “Like” their brand. Specifically, retailers are able to offer Fan discounts, which can build brand loyalty and increase sales. Other options include allowing customers to “Share” and link back to the Facebook store page.
How Bigger Retailers Compare
While this new technology is great for smaller eCommerce businesses, Payvment is still only a Facebook application with limited options for store developers. For bigger retailers, it is wiser to have your own website, on which you can also incorporate the Facebook Social Graph to create better and personalized shopping experiences for customers.
And just in case you were wondering, Etsy is a shopping community focused around buying and selling handmade and vintage products.
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Image source: Payvment
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