Shopping on the 'Gram
Instagram is trying to be the one-stop-shop.
March 19, 2018
Instagram announced that they're introducing a feature that would allow users to buy products directly from the app. See a 'fit you like? Click on the particular piece of clothing, peep the price, then buy it directly from the app. No extra links or anything.
We all know a key to surviving in business nowadays is by providing convenience (which usually means providing a way for people to be as lazy as humanly possible), so this feature could spark a spike in Instagram's growth.
Instagram won't charge users for this service; instead, they'll charge merchants a seller's fee (you knew somebody had to pay for it). They're banking on this new feature, which eliminates a lot of steps for buyers, leading to more sales for the merchants -- which Instagram hopes will lead to more companies buying ads on the platform because of the high return on investment.
With Zuckerberg 'nem over at Facebook (which bought Instagram for $1B) in the shamblest of shambles, Instagram will soon be picking up the heavy load when it comes to their ad business. This new feature could very well prove to be much needed for the company.
In 2018, Instagram made an estimated $8B to $9B in revenue, and that number could easily increase another $5B or so in 2019.