Last April, Gamestop Corp. opened a store on Facebook to generate sales among the 3.5 million-plus customers who'd declared themselves "fans" of the video game retailer. Six months later, the store was quietly shuttered.
Gamestop has company. Over the past year, Gap Inc., J.C. Penney Co. and Nordstrom Inc. have all opened and closed storefronts on Facebook Inc.'s social networking site.
Facebook, which this month filed for an initial public offering, has sought to be a top shopping destination for its 845 million members. The stores' quick failure shows that the Menlo Park, California-based social network doesn't drive commerce and casts doubt on its value for retailers, said Sucharita Mulpuru, an analyst at Forrester Research in Cambridge, Massachusetts.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
