Facebook offers ‘£3bn revenue opportunity’

UK businesses could make £3.1bn from Facebook commerce over the next few years, according to new research.

A TNS Omnibus study compiled for Ecwid found that in 2011 UK consumers spent a sum of £50.34bn on eCommerce purchases.

It said that over the next three years, 6.1% of purchases look set to be made via social networking site Facebook.

Although only 4% of British consumers currently buy products via Facebook, 40% of those surveyed said that if it delivered a similar experience to an online store they would be happy to purchase items through the social media site.

And a quarter (25%) said that they would rather shop on Facebook than eBay because it could offer them a more personalised way to buy and sell goods.

CEO and founder of Ecwid, Ruslan Fazylev, said of the results: “While Facebook commerce may still be in its infancy, this study shows it has the potential to grow massively.”

He continued: “Many businesses now have a presence on Facebook but relatively few have been able to successfully monetise it to date.”