Facebook CEO Mark Zuckerberg has introduced the Facebook Shop, a service where companies can list their products. It is to help small entrepreneurs find their way into the current crisis.
Businesses can list their products on their Facebook page, Instagram profile, Stories and Ad for free on Facebook Shops. Facebook says that entrepreneurs can easily set up shop on Facebook and Instagram and customize the display of their products to their liking.
In the future, Facebook will allow customers to sell products using WhatsApp, Messenger and Instagram Direct. You can also tag products on Facebook and Instagram live streams. Customers can click the tag and go to the product ordering page.
The epidemic has devastated retail businesses and damaged Supply Chain. In the US alone, 36 million people are unemployed. The actual figures for India are yet to be revealed. The turning point for retail businesses is to switch to online platforms.