Facebook is poised to become a major destination for online shopping as more sophisticated E-commerce applications appear, reports the Financial Times. Floral gift retailer 1-800-Flowers opened a Facebook storefront last week and the software developer behind it says at least 20 more retailers will open for business via Facebook in the next couple of months. New businesses will include "very large general merchandise and very large electronics retailers," according to the developer.
Analysts say the new applications could help transform the site into a leading platform for retailers. Facebook, however, has no current plans to organize the storefront sites into an online mall or take a cut of any transactions. The site plans instead to keep its focus on making money from advertising, and expects revenue to grow to $500 million this year.