In this day and age, it’s easy for any savvy social media user to succumb to “Instagram envy.” We all know that pang of jealousy when we see our friends or favorite influencers sporting the latest and greatest fashion trends. Seeing these posts repeatedly, and from people whose lives look desirable, can shift a user’s attitude from admiration to an “I have to have that” mindset. The challenge for Instagram is that, while this discovery is happening within the app, they aren’t necessarily getting the credit.
Instagram recently announced several new tools, including the ability to shop items via Stories and the Explore page. Instagram’s push into online shopping seems like a natural progression. Users already engage with the platform to follow trends, and a stronger focus on ecommerce could open new revenue opportunities. In short, they’re trying to capitalize on something that’s already happening within the social media channel.
Instagram Explore is getting a personalized Shopping channel whose algorithm will show you tagged shopping posts from businesses you follow and ones you might like based on what content engages you. This marks the first time users can view a dedicated shopping space inside of Instagram, and it could become a never-ending stream of browsing for those of us who frequently fall victim to Instagram envy.
Instagram is also expanding its Shopping tags for Instagram Stories to viewers worldwide, along with allowing global brands to add the shopping bag icon to Stories. Brands can add one product tag sticker per Story that users can then tap to see more information. With more than 400 million people engaging with Instagram Stories every day, bringing Shopping into Stories can extend a brand’s reach when trying to connect with consumers. Businesses will also be able to see the number of taps on their Shopping tag, along with how many users continued through to their website. According to a spokesperson, Instagram currently doesn’t charge businesses for the shopping tools it provides, but it’s exploring sponsored formats.
Instagram first launched its Shopping tags for feeds in 2016. Since it began testing the shopping bag icon in Stories this past June, the company reports more than 90 million accounts per month have tapped on the shopping bag tag used in posts. For now, the tags point users outside of the app for the final payment step, but long-term, allowing businesses to offer in-app checkout could shorten the funnel and encourage more users to complete purchases.
These latest shopping features on Instagram aim to bridge the gap for advertisers that want to go from using the app as a marketing tool to leveraging it as an ecommerce channel. For now, Instagram is maintaining “no comment” regarding a rumored stand-alone Instagram Shopping app. Trying out the Shopping tab in Explore and the shopping bag icon in Stories is a risk-free way for advertisers to test how much traffic and revenue a stand-alone app could possibly generate.