By Kate van Geldern Just in time for the holiday season retail rush Facebook announced that they have begun testing a new feature called “Collections,” which enable users to act on new actions like collect, want, or even buy products that brands share with their fans. Mashable reported that Facebook is testing the new feature with major national retail brands like Victoria’s Secret, Pottery Barn, and Neiman Marcus.
What does the announcement of this pilot mean for brands? First, Collections could be a viable competitor for Pinterest. Facebook is giving users the tools to collect the images that brands push out in a folder – which closely resembles the board-curation process on Pinterest. If the feature becomes widely adopted, brands could be adding another icon for Collections next to the ‘pin it’ buttons on their websites.
Brands may also be focusing their efforts on the highly actionable 'buy' button on the Facebook images -- brands will be able to add a link from the photo directly to their eCommerce site, driving sales from the Facebook newsfeed. Facebook isn’t charging to use this tool set yet but Collections could eventually be a revenue stream not just for the brands, but also for the social network if they chose to integrate with the ad platform or charge an affiliate fee.
What do you think of the new Collections feature? Will your company be using Collections if it’s rolled out to all brands?