Instagram Shopping App Set To Shake Up eCommerce
Facebook-owned Instagram is reportedly developing a standalone shopping app, as the social media giant seeks to boost group revenue, following lacklustre results.
According to The Verge, the ‘IG Shopping’ app will link to users’ Instagram profiles, enabling individuals to browse and shop the collections of brands/merchants they follow.
The app is reportedly still in development, with an exact launch date yet to be confirmed.
Latest numbers claim over 25 million businesses operate Instagram accounts, with 2 million reportedly Instagram advertisers.
In its recent earnings call, Facebook COO Sheryl Sandberg revealed four in five Instagram users follow at least one business account.
The news comes as Facebook faces increased pressure to expand its commercial model, following less-than-expected earnings, and ongoing privacy saga.
Commentators claim the proposed Instagram shopping app will challenge e-commerce platforms such as Shopify.
As previously reported, Instagram has already rolled out preliminary shop-from-app feature, with thousands of Aussie retailers/brands harnessing the functionality.