Soon there could be a new “Want” button on Facebook

(CNN) – Facebook’s famous “like” button may be getting a new friend: a “want” button.

Reports indicate that Facebook may be in the works of developing a “want” button as a way for users to share coveted items with their friends.

“Offering a ‘want’ button and enabling users to tell friends and Facebook what products they want would give Facebook data closer to what Google has when users type an explicit commerce related search query,” Munster wrote.

The speculation started last month when Web developer Tom Waddington discovered the code for a disabled version of the button and published a mockup of it on his blog. Waddington wrote that Facebook clearly has “big plans for social commerce.”

He added that it appears the purchases and wants a user submits will appear in a similar manner as other content on Facebook.

With Facebook’s eagerly anticipated second-quarter earnings report Thursday, a segue into social commerce may help the company. 

The “want” button would essentially function as a wish list, so Facebook could collect data and learn more about the types of products its users would like to purchase.

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