Friday May 22, 2020 |Notes

Commerce is everywhere

Commerce is becoming ubiquitous in the digital landscape. It's never been easier to transact online from both a consumer and business perspective, and the lines between business and individual are being blurred.

Earlier this week, Facebook launched Shops, which makes it possible to shop directly in the Facebook and Instagram platforms. The feature is available for free on all business profile accounts, which currently include ove 160 million shops. With no limitations on who is able to register a business account, this essentially makes it possible for anyone to launch a shop for free on Facebook.

It's not entirely dissimilar from Google's move to offer product listing ads for free to all merchants. In both cases, platforms entice businesses to use the platform, with an aim to bring & keep more visitors on the platform. This also enables the platform to gather a lot more data on the small businesses and personal spending habits, while opening opportunities to get a cut of each transaction.

As business moves increasingly to a digital economy, the meaning of commerce is changing. There's no requirement for a physical presence or physical product. Transactions don't require cash - or any real payment. And the lines between a business and individual are becoming blurred.

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