What: Meta is testing different social commerce methods across platforms.

Why it is important: Similarly to TikTok, Facebook has announced that it will end live shopping on its platform.

Meta cites the increasing inclination towards shorter video formats regarding customer behaviour. While live shopping will remain on Instagram per post, Meta is testing alternative social commerce methods such as its pay-in-chat function.

While users have complained about Instagram’s full screen ‘Reels’ test, Meta believes social media will continue moving towards a video format. Meta continues to develop its shopping channels and has also opened a physical retail store in California to sell virtual reality equipment.

Meta’s second quarter earnings report in July showed net income for the quarter dropped 36% to about $6.7 billion, total revenue fell 1% and operating income dropped 32% year over year. The company is reportedly also considering its first ever bond sale, according to Bloomberg.

Facebook shuts down live shopping