Over the past few years, Instagram users may have noticed that the app has gone from a place where you turn to see your friend’s cute dog photos, to a place where you turn to see these pictures of dogs while purchase a lot of crap that you probably don’t need. If you had any doubts about the platform’s intentions to become a glorified digital mall, just watch its latest update: Earlier today, the company announced it was expanding its beloved one. shopping function in the app to support IGTV (the company Clone Youtube) and Reels (the company Clone of TikTok). With the latter set to roll out later this year, IGTV creators around the world can now use their music videos to immediately sell products to viewers.
If you look at the example post Instagram spokespersons sent, the new feature looks a lot like the app’s Actual configuration for in-app purchases. If, for example, a beauty guru wants to share a video of her #flawless makeup routine on IGTV, that video can now be accompanied by a little shopping bag icon that directs viewers to a store filled with the products of this video. Depending on whether or not the influencer was approved To make payment through the app, people can purchase these products directly through Insta or through this influencer website.
“For creators and businesses, this is a new way to sell in an inspiring and immersive way through long-lasting edited videos,” a Facebook spokesperson told Gizmodo. She added that in the future, purchasable IGTV videos will be able to be viewed directly from the Boutique Instagram tongue.
This new purchasing power is a way for creators to sell their products to mass audiences, but it’s also a new way for Instagram to sell IGTV to creators who have, overall, dodged the format because of its less than stellar audience. But the allure of selling derivatives – and the brand offers that come with it – might be enough to convince the creators to give the video format another chance.
Instagram is fairly low profile on the total number of people who regularly shop on the platform, although last year the company posted a blog post stating that since Instagram’s payment feature first rolled out, 130 million of its monthly users were tapping on items for sale in any given post. Certainly, the time between loading a cart and clicking the “buy” button is profound.
Still, those click-through estimates were good enough for Deutsche Bank analysts. extrapolate that e-commerce on Instagram could bring the company $ 10 billion by the end of next year, the company telling its investors that the “momentum” of this feature – combined with the shopping features from its parent company, Facebook – could one day lead to a “standalone shopping app”. This figure is essentially professional fan-fiction, but given the current monetization strategy of in-feed and in-story ads raked around 20 billion dollars Last year, Facebook apparently viewed e-commerce as a worthy bet.
Instagram’s slow evolution into a glorified mall is not just an attempt to dethrone the massive base of TikTok and Youtube, but also Amazon. Bezos’ ecommerce darling has had his winnings swell in insane proportions in recent months, in part due to a global pandemic that has forced just about everyone to turn to online shopping, in some cases for real. And since advertisers tend to follow consumers wherever they are, this new online addiction could be one of the reasons analysts projected that Amazon’s ad revenue would increase by a good 470% over the next three years.
This spike creates problems for Facebook, i.e. as you may remember, a company that wins almost 99% of its annual income through advertising. Any threat to the company’s digital advertising dominance can translate into millions, if not billions, lost. And while Amazon is still hanging around from afar behind Facebook and Google in making those ad dollars, it’s clearly a matter of time before Amazon’s business catches up.
Perhaps this is one of the reasons we see Facebook and Instagram really going all out to sell us the shopping experience, through the Facebook stores feature that was introduced last spring, the continuous rise of Facebook Marketplace, and thanks to Instagram’s slow decline in e-commerce. Like it or not, the deathmatch between Zuckerberg and Bezos means we’re likely to see Instagram look more like the home shopping network than we’ve ever asked for.