#Facebook to add a “want” button?

Despite Facebook’s success in reaching the 1 billion mark for active users, its main revenue source has been through advertising and has not quite leveraged their large user base.

In an effort to find new ways to turn a profit, Facebook has started testing a “want” button, working with several retailers, including the lingerie brand Victoria’s Secret and the furnishing store Pottery Barn. The “want” button lets users mark pictures and create wishlists of products that they desire.  These users can then buy the items through Facebook. While Facebook will not be receiving a fee for the time being, this sets up the groundwork for Facebook to break into e-commerce.

With this move, Facebook is two steps ahead of Pinterest, which has yet to find a way to monetize its site. In fact, Pinterest should take a cue from Facebook to allow products to be bought through their site.

Facebook seems to be undergoing a fundamental shift, trying to encourage its users to spend money, not just socialize on their site. Following the disastrous debut of Facebook on the stock market, analysts say that Facebook is under pressure to find new sources of revenue to please investors. However, Facebook faces the risk of alienating users who don’t view Facebook as a place to spend their money. Going forward, the challenge for Facebook is to maintain a balance between pleasing their users and their investors alike.

To see what the new button looks like, read more here