Facebook Adds 'Collections' to Compete with Pinterest

Facebook has started testing a new feature called 'Collections,' which allows users to add "Want" or "Collect" buttons to products.  The buttons save and share products to to a "Wishlist" on user profiles. There are only seven retail partners participating right now, including Pottery Barn, Michael Kors, and Neiman Marcus, but 100% of users have the ability to "Want" or "Collect" products.

How do Facebook Collections work?  Collections posts will be shown in users' newsfeeds and people will be able to engage with these collections and share things they are interested in with their friends.  According to HubSpot, Facebook is testing different versions of the new feature.  Users may notice one of the following call-to-action buttons that gets overlaid on the retailers' Collections posts:

  1. "Want" - adds the product to a Timeline section of a user's profile called "Wishlist"
  2. "Collect" - adds the item to a Collection called "Products"
  3. "Like" - a special version of the standard "Like" button that also adds the item to "Products"

Can Facebook Collections compete with Pinterest?  TechCrunch seems to think so.  If users can Collect and share products on Facebook where they already spend time, they might have less need to join Pinterest.  Will you use Collections instead of Pinterest, or in addition to?  Let us know in the comment box below.