Remember “F-Commerce?” Back in 2011, many had high hopes for Facebook-based commerce. And why not? Facebook was still growing like wildfire. In the early days, brands including Diane von Furstenberg, Delta Airlines and 1-800-Flowers claimed success on the platform.
One year later, Facebook’s efforts to get consumers to buy on the social network went bust. Advertisers including GameStop, JCPenney, Nordstrom and Gap pulled their virtual storefronts. As venture capitalist Chris Dixon memorably lamented, “Facebook is like a Starbucks where everyone hangs out for hours but almost never buys anything.”