Facebook Shops make it easy for businesses to set up a single online store for customers to access on both Facebook and Instagram. Products are synced with your FB account and you can tag products in posts and Stories.
Create Facebook Shop:
Go to your Facebook page, navigate to page settings.
In settings select template and tabs, and choose your current template to shopping.
In the Tabs section enable shop.
Open Business Manager and navigate to commerce manager.
Add catalog and products with item descriptions and images.
In commerce manager, click on shops on the left and create a shop by choosing the appropriate sections.
Go to settings in commerce manager -> business assets, select and connect the Facebook, Instagram, and ads accounts in ad and sales channels.
In event sources connect your pixel for tracking as shown in the image below.
Setup Instagram Shopping:
Login to Instagram App, go to settings and switch account type to a business account.
Connect your account to the Facebook page and Whatsapp if available.
Go to Accounts in Business manager -> Instagram accounts, add your Instagram account and connect it to the commerce manager.
Now go to Add assets section in Instagram accounts and share access to your catalog with products.
Open the same in commerce manager and go for shop creation in the overview.
Please refer to the below video for further information.