Facebook executives recently revealed plans to boost the company's e-commerce market and mobile strategies partnerships, with an emphasis on increasing value for businesses on both regional and global levels.
The announcements were made following the company's fourth-quarter results for financial year 2014.
"Q4 is a particularly important quarter and it's particularly important for e-commerce. When you think about Buy on Facebook it's a small test in the U.S. that we started last quarter and it enabled people to buy on pages. To be clear - you're not buying from Facebook, you're buying directly from the merchants. And it's really an SMB product to give them capability they haven't had," said Chief Operating Officer Sheryl Sandberg, according to Pymnts.
"We'll see what happens in terms of where people convert - whether it's on Facebook. But we think the opportunity to connect consumers with the product that they then purchase is a really big one. Where we play in that most directly is the time and attention consumers have as well as information to very relevant advertising, and we're going to see a focus there."
The company's Chief Financial Officer David Wehner offered similar insight, mentioning that opportunities for commerce can be leveraged by the connection of millions of users around the world through the social media network.
However, Facebook continues to struggle with finding new ways to fund financial endeavors, given the company's free access to users and predominately peer-to-peer platform that is generally founded on advertisement profits. Further involvement in the e-commerce market is said to open potential for expansion, despite some economic hurdles.
"You have to recognize that we're basically one large big business and we're operating against capital deployment against delivering against objectives of that business, so that's the bulk of spending that we do," Wehner said about Facebook's commerce strategy, Pymnts also reports.
Facebook has spent the last few years focusing on its "mobile first" strategy, leading to favorable results for the company. Over two-thirds of the company's advertising revenue originates from mobile advertisements, according to USA Today.
The company's mobile advertising business has been touted by many as central to its economic growth.
