Canvas allows a Facebook user to click on an ad in the Newsfeed stream and receive a full-screen ad that contains a Buy button. Clicking on the Buy button lets the user purchase a product directly from the business selling the product without ever leaving the Facebook app.
Business owners can also choose an alternative way for shoppers to buy their products using Facebook’s Pages product. In addition to being a showcase for products, Facebook also recently added a Shop and Services sections for sellers of products or services.
What Facebook wants to achieve is as near a friction-free transaction as it can. Making it easier for advertisers to showcase products and services as completely as possible makes it even easier for consumers to click that Buy button.
Another interesting point is that this is almost entirely addressed to Facebook’s mobile users. The company has staked out a position that neither Amazon nor Google has succeeded in weakening. By controlling its ecosystem with native apps, Facebook also guarantees that its offerings will always outperform a third-party app.
Facebook shares are up about 1% late Monday afternoon at $94.23 in a 52-week range of $70.32 to $99.24.
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