Data indicates as many as 84% of smartphone users browse, research, and compare products on these devices during the buying process. Soon, more may be completing the checkout process through these tools as well.
CREDIT: Getty Images
Today, Instagram boasts more than 600 million active monthly users and a growth rate that’s five times faster than any other social network in the United States. And it’s much more than a platform for posting selfies and food photos: 80 percent of its users follow at least one business on Instagram–and 60 percent say they discover new products here.
This is also why the latest update on Instagram Shopping is so interesting for business owners. Early results from tests with brands like Kate Spade New York and J. Crew were positive, and as a result, the Facebook-owned platform is expanding to thousands of additional retailers in these industries as of March 21. For now, this limited release is only open to brands in the fashion, apparel, jewelry and beauty industries, but ecommerce platforms are already preparing integrations to accommodate the roll-out.
Introduced back in November of 2016, this new shopping experience will continue to slowly roll out over the next several quarters. Essentially, this feature allows viewers to click on different items within an image and be linked to an online purchase flow.
It’s an important development for the platform, according to retailers like Warby Parker. The company’s co-CEO Dave Gilboa told Instagram: “Right now, there isn’t a simple, clean way for us to share details about the products featured within our posts. Customers often have to ask us, which creates a bulky experience on both sides.”
So how does Instagram Shopping work?
- Retailers post shoppable photos that include pop-up tags on up to five products within an image
- A “Shop Now” button appears next to the product’s price
- When clicked, the “Shop Now” button opens the browser and allows the user to complete a purchase through the retailer’s online store
Overall, this feature is good news for retailers looking to tap into Instagram’s engaged audience. In a fewer number of clicks than ever before, customers can find and purchase products through their mobile devices.
While mobile commerce is still in its early stages, some data predicts that mobile will account for as much as 50% of all online sales by 2020. Today, more than 84% of smartphone users in the US browse, research or compare products via a web browser or mobile app–so creating processes that enable the final purchase through a simplified process is a logical progression forward.
For retailers and entrepreneurs, it presents one more opportunity to turn a growing following on this platform into a steady stream of new sales.
Stay tuned for more updates on when this feature will be released to additional retailers.
The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.