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Facebook's New Instagram Shopping Feature to Boost User Base
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Facebook division, Instagram is now allowing users in 46 countries to shop directly from Stories posts, a feature that the social media giant has been testing since June.
Moreover, Instagram announced the launch of a Shopping tab in the Explore page that will expand globally in the coming weeks.
New Features to Attract Users
The new shopping feature aim at attracting more users. Notably, Instagram now has more than 1 billion monthly users and 500 million daily users. Further, 400 million people use Instagram stories on a daily basis.
Moreover, Instagram has nearly 25 million business profiles, out of which 2 million advertise with Facebook. Per MarketWatch, businesses can now add shopping “stickers” to Stories posts that users can click to learn more about a product or buy it.
As more and more business owners are turning to social platforms to increase brand awareness and attract more customers, the new features in Instagram Stories offer significant growth prospects for them.
Notably, Facebook is increasingly trying to diversify its revenue streams from a traditional ad-based business model. The company has been ramping up efforts to bring in new features to extend its offerings in various categories including e-commerce.
Instagram has emerged as an important cash cow for Facebook in this regard. The company has added a plethora of new features like GIF stickers, type mode, “Focus” camera format, emoji slider sticker, “Mute” in feed, IGTV, video chats, topic tab in Explore and soundtracks on Stories to make the platform exciting and engaging.
These features have improved Instagram’s competitive position against Snap (SNAP - Free Report) , parent of Snapchat, which has just 191 million users. The launch of IGTV, a longer form of video hub, will help Instagram compete better with YouTube and Twitter .
Facebook, which currently has a Zacks Rank #4 (Sell), is now looking for ways to monetize Instagram Stories. The addition of e-commerce features to the platform is a step in that direction. Market research firm, emarketer expects Instagram to generate $5.48 billion in U.S. ad revenues in 2018, up 70% year over year.
Reportedly, Instagram is set to roll out a shopping app separately. Per The Verge, the shopping app, which will most likely be named IG Shopping, is in the test phase. A separate app is further expected to strengthen Facebook’s position in the e-commerce market.
Moreover, Facebook’s endeavor to incorporate augmented reality (AR) technology in the shopping app can act as a differentiator in terms of providing better customer experience. This will help the company compete in the e-commerce market, which is currently dominated by Amazon (AMZN - Free Report) , a Zacks Rank #1 (Strong Buy) stock. You can see the complete list of today’s Zacks #1 Rank stocks here.
5 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2018 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 5 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains.
Image: Bigstock
Facebook's New Instagram Shopping Feature to Boost User Base
Facebook division, Instagram is now allowing users in 46 countries to shop directly from Stories posts, a feature that the social media giant has been testing since June.
Moreover, Instagram announced the launch of a Shopping tab in the Explore page that will expand globally in the coming weeks.
New Features to Attract Users
The new shopping feature aim at attracting more users. Notably, Instagram now has more than 1 billion monthly users and 500 million daily users. Further, 400 million people use Instagram stories on a daily basis.
Moreover, Instagram has nearly 25 million business profiles, out of which 2 million advertise with Facebook. Per MarketWatch, businesses can now add shopping “stickers” to Stories posts that users can click to learn more about a product or buy it.
As more and more business owners are turning to social platforms to increase brand awareness and attract more customers, the new features in Instagram Stories offer significant growth prospects for them.
Facebook, Inc. Revenue (TTM)
Facebook, Inc. Revenue (TTM) | Facebook, Inc. Quote
Instagram’s E-Commerce Push to Drive Monetization
Notably, Facebook is increasingly trying to diversify its revenue streams from a traditional ad-based business model. The company has been ramping up efforts to bring in new features to extend its offerings in various categories including e-commerce.
Instagram has emerged as an important cash cow for Facebook in this regard. The company has added a plethora of new features like GIF stickers, type mode, “Focus” camera format, emoji slider sticker, “Mute” in feed, IGTV, video chats, topic tab in Explore and soundtracks on Stories to make the platform exciting and engaging.
These features have improved Instagram’s competitive position against Snap (SNAP - Free Report) , parent of Snapchat, which has just 191 million users. The launch of IGTV, a longer form of video hub, will help Instagram compete better with YouTube and Twitter .
Facebook, which currently has a Zacks Rank #4 (Sell), is now looking for ways to monetize Instagram Stories. The addition of e-commerce features to the platform is a step in that direction. Market research firm, emarketer expects Instagram to generate $5.48 billion in U.S. ad revenues in 2018, up 70% year over year.
Reportedly, Instagram is set to roll out a shopping app separately. Per The Verge, the shopping app, which will most likely be named IG Shopping, is in the test phase. A separate app is further expected to strengthen Facebook’s position in the e-commerce market.
Moreover, Facebook’s endeavor to incorporate augmented reality (AR) technology in the shopping app can act as a differentiator in terms of providing better customer experience. This will help the company compete in the e-commerce market, which is currently dominated by Amazon (AMZN - Free Report) , a Zacks Rank #1 (Strong Buy) stock. You can see the complete list of today’s Zacks #1 Rank stocks here.
5 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2018 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 5 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains.
Click to see them right now >>