Facebook is testing a retail-friendly “Want” button

Facebook is testing a retail-friendly “Want” button accompaniment to the “Like” button, which could help Facebook increase revenue through sales commissions and ads. Facebook is working with seven retail partners in the beta test, including Pottery Barn, Wayfair, Victoria's Secret, Michael Kors, Neiman Marcus, Smith Optics, and Fab.com. Facebook users in certain areas have been able to click “Want” and “Collect” buttons upon products from the retailers.

Items that users “Want” will be saved in a collection or wish list. Also the wanted item will appear on the users’ timeline. In turn, Facebook friends will be able to look at a users' wants/collections/wish list and treat them.

During the test phase, Facebook will not get a commission for wish list purchases by Facebook friends. However, it is likely the social network will take a cut when the feature is rolled out properly.

Although Facebook won't get a cut of sales, Robert W. Barid analyst Colin Sebastian told Reuters that the "Want" button provides other opportunities for monetisation. "In addition to potentially collecting a transaction fee for referring users to an e-commerce site, Sebastian said that retailers might also pay Facebook to promote products featured on users' wish lists, similar to the way the Facebook's current ads function."

The “Collections” wish list feature will be gradually rolled out to all US users when the wish list feature is fully integrated into Facebook.

The Collections feature won't be a social plug-in or available outside of the Facebook site for now, the company said. It will be viewable by Facebook users on their News Feeds.

There was some talk at the time of the addition of a Want button for products, but more speculation centred on different variations of how a user might be able to signify that they'd consumed media.

Mengxue Zheng - Marketing Advisor