Tim Gibbon claims that storefront applications on the network could turn it into a profitable channel.

Facebook is trying to make inroads into the world of online retail and if it is successful, it could be a very important channel for brands trying to find new ways of reaching consumers, it has been claimed.

Tim Gibbon, co-founder and editor of the Social Media Portal, claims that storefront applications on the network could turn it into one of the most significant destinations for online retail.

There are certain considerations firms would have to think about, such as whether they are happy for the shopping experience to take place on the social networking site as opposed to their own website.

Firms which are happy with this could find that it opens a very profitable channel for them.

"If more storefronts were created, Facebook storefront applications could see the world's largest social network emerge as a very powerful destination for online shopping," Mr Gibbon said.

According to the E-Retail Report 2009 from Deutsche Card Services, women initiate six out of every ten purchases online, although men spend more per transaction.

Posted by Lucy Pritchard

Article Added: 09/03/2010 16:07:26