Over the course of its twelve-year existence, Facebook has become the go to social media stop for all internet users. According to PEW research over 72% of American adults have a Facebook account. Over the years the website has added more features to make it a more important aspect of its user’s day to day life. For example, 62% of American adults use social media as their primary source of information. Of Facebook’s 191.3 million users in the US, 66% use the website for their news.
However, while users are still engaging in Facebook’s articles and businesses, they are not posting as frequently as they used to. A survey by GlobalWebIndex shows Facebook users are still logging in regularly (over 65% of its 1.49 billion users visit daily), but original content is down; only 37% of users shared new photographs in 2015, down from 59% in 2014. So despite not having anything new to say, users still come to the site. It’s this base of loyal retention that has opened the doors for Facebook to experiment with new ideas to keep users engaged.
Facebook has also become a popular choice for its users to plan an event, advertise a business, shop for miscellaneous items, and even in some parts of the country plan a school curriculum. It seems when asked what the social platform can offer its users, Facebook wants to reply “anything.” That’s why it did not come as much of a surprise when Facebook announced its new “Order food” option.
Users are now able to order food from certain restaurant’s Facebook page. By partnering with Delivery.com it seems Facebook wants to be involved with every aspect of our lives. It does beg the question on if Facebook is still a luxury. As mentioned before, over 60% of Facebook‘s 1.49 billion users login daily. A healthy majority use it for news, and during this past election cycle 20% of social media users say they changed their political stance based on a social media article. Now Facebook is entering the realm of food and entertainment. It has already displayed it has the power to influence a large population of people. Will further reliance on the platform strengthen its grip on our tastes and possibly influence our future decisions?
Ari Goldfarb is not affiliated with Raymond James. Views expressed are the opinions of Ari Goldfarb and the Financial Advisors at Goldfarb Financial and not necessarily those of Raymond James.