The new ‘Want/Collect’ buttons being worked upon by Facebook are great news for retailers but probably bad news for Pinterest. This is because the new feature posts pictures of the items people ‘Want’ or ‘Collect’ on their news feed, quite like Pinterest. This new feature is a great way for businesses to advertise as per user interests following the Collect or Want button activities as reported by AllThingsD.
Facebook is presently testing the feature with certain retailers and revealed that the Collections feature lets people create ‘wishlist’ collections with products and things they ‘want’ on the retailers’ pages. These ‘wishlist’ collections would be open for viewing by the friends of the user and even be linked to retailer’s purchase pages. The Timeline will now have a 'Wishlist' tab which will always be visible to friends of friends, and another tab called “Products” which will have all the pictures posted under the 'Collect' button. This tab will be visible to friends only.
Facebook has been quoted across the web on this as-" The company is currently beginning a small test in which a few select businesses will be able to share information about their products through a feature called Collections. Collections can be discovered in News Feed, and people will be able to engage with these collections and share things they are interested in with their friends. People can click through and buy these items off of Facebook."
This means users can now “want” an item or “collect” it apart from the usual “Liking” it. The retailers stand to gain much needed user interest information with this feature as they can then advertise to their target audience on the basis of their ‘wants’ or ‘collects’. These two buttons are in the testing phase. Do you think they will get Facebook more revenue from advertisers and retailers?Facebook Works with Retailers on 'Collections' Feature with 'Want/Collect' Buttons - Pinterest Style!,