“More than 80% of Instagram’s 800 million users follow a brand or business”
Instagram boasts of a million advertisers and ad influencers and 25 million businesses on its platform with a following of 800 million users. They decided to make this resourceful platform into a shopping experience for its users by targeting business brands, and by introducing instant in-app payments without any prior announcement. The feature, which is already accessible to some users, will roll out across the world soon, as reports suggest. Users will be able to shop products and services while staying within the app. The feature lets users enter payment details into the app along with a pin for security. Then they can shop away.
Instagram claims the feature is still in its trial rounds. The payment systems are backed by parent Facebook payment rules. They also added they plan on expanding this feature for a broad range of products and services such as booking appointments and movie tickets. Right now the feature is still limited, it is just used to book appointments at select restaurants and salons.
Unlike other retailer websites or apps that force you to enter your payment details for every product you browse, Instagram will ensure that is not the case and more users are likely to shop more while benefiting the value of the business brand. Instagram payments could make purchases much more secure and convenient while encouraging more businesses to get on board. There are plenty of businesses out there that could make use of the feature effectively.
With numbers like that, Instagram is in a very good spot to boost revenue and draw in more advertisers and brands to promote on its platform.
