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Facebook Apps Generated Eur 208 Billion Sales For EU Firms In 2019

Technology

Facebook said in a new report that Facebook apps have helped businesses in the European Union (EU) generate sales corresponding to an estimated EUR 208 billion last year – resulting in nearly 3.1 million jobs.

Around 25 million businesses in the European Union, mostly small businesses, are using its services each month, according to Facebook.

On Monday, Nicola Mendelsohn, Vice-President for Europe, Middle East and Africa at Facebook, said that “Businesses said that using Facebook apps helped them generate an estimated EUR 98 billion in exports last year. Of these exports, 58 billion euros are sales within the EU and EUR 40 billion are sales to the rest of the world.”

To understand the true extent of Facebook’s impact on the European economy, the company commissioned a study by Copenhagen Economics, one of the leading economics firms in Europe. The study surveyed over 7,700 businesses across all industries and sizes in 15 countries.

Mendelsohn also added that “This shows the critical role social media plays in driving sales for businesses across Europe. This is particularly true for small and medium-sized businesses.”

Six in 10 companies said Facebook apps are important in decreasing marketing costs and a similar number said Facebook apps are important in improving customer service.

The report mentioned that “Six in 10 businesses using Facebook apps report them as helpful to enter markets, and 7 in 10 businesses using Facebook apps are exporting to other countries compared to 5 in 10 non-users.”

The study also found that female-founded businesses, in particular, credit social media with helping them to start and grow their businesses.

The report also added that “Fifty-eight percent of female-founded businesses surveyed said that Facebook apps are important for enabling them to start businesses, while 65 percent said it helped grow their revenue.”

Source: https://gadgets.ndtv.com/social-networking/news/facebook-apps-helped-eu-firms-generate-eur-208-billion-in-sales-in-2019-company-says-2167417

About the author

Reza Mousavi

Reza Mousavi

Reza is a freelance journalist and content writer with experience in Digital Media and Public Relations. He has 6 years of experience working with media, communication agencies and companies of all sizes and fields. He has written contents for several websites and had published pieces.

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