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article imageFacebook confirms limited testing of 'Want' button

By Leigh Goessl     Oct 9, 2012 in Business
Facebook is testing out a potentially new feature that could possibly cement the social network giant's ability to impact commerce.
Over the summer, Digital Journal reported on the speculations of a potential "Want" button. At that time no official announcement had been made, however a developer named Tom Waddington had noticed some coding that indicated a "Want" button and had outlined the information on his blog.
Reportedly, the company confirmed yesterday that new sharing buttons are indeed in the works and the company has partnered with some retailers to test potentially new features.
PC Magazine reported the company gave them a statement which said the network is engaging in a "small test in which a few select businesses will be able to share information about their products through a feature called Collections."
"Collections" encompasses three actions which include "Want", "Like" and "Collect". Through these buttons Facebook users can, in addition to "Liking", they can share with their friends the products they want or hope to buy. The information will show up on News Feeds.
Currently, Facebook said retailers participating in the pilot program are Pottery Barn, Wayfair, Victoria's Secret, Michael Kors, Neiman Marcus, Smith Optics, and
TechCrunch provides additional information on how the new program is being tested, noting these features are different than a "Want" social plug-in that is widely speculated.
These buttons are being suggested to be competing with Pinterest. At this time reportedly users cannot buy directly through Facebook and the network is not charging or taking a cut from the retailers, but as CNET notes, "But obviously that could change."
If successful, Facebook may have finally found a way to better monetize the site and make it a more appealing platform to marketers. Currently, the vague "Like" button doesn't necessarily indicate a user wants to buy something, but a new button could be a stronger metric for marketers.
What do you think of "Collections"? Do you find the concept of a variety of sharing buttons on Facebook appealing?
More about Facebook, Collections, want button, Like button, Social media
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