Impulse buying has just gone next level!
Last month, Instagram wowed brands and shoppers worldwide with its new shopping in-app feature ‘Instagram Checkout.’ If you’re like me and love to mull over the latest fashion and beauty products on Insta, life has just got that little bit more exciting (my bank account may NOT agree)!
And the benefit to brands has them lining up to jump on board.
SO HOW DOES IT WORK?
Currently only available to users in the US, the feature allows users to purchase a product they love without leaving the app… Bliss!
When they see a product in their feed or story that they simply must have… the user can simply tap to view the product and will see a ‘Checkout on Instagram’ button on the product page.
They can select from options such as size and colour and then proceed straight to payment… all without leaving the app!
This closed beta announcement means that Instagram has selected over 20 top brands in the US to test out the checkout feature before the company releases the product to additional brands.
The following retailers are part of the initial roll out –
Adidas @adidaswomen & @adidasoriginals
Anastasia Beverly Hills @anastasiabeverlyhills
Huda Beauty @hudabeautyshop
Kith @kithfootwear & @kith
Kylie Cosmetics @kyliecosmetics
MAC Cosmetics @maccosmetics
Michael Kors @michaelkors
Net-a-Porter @netaporter & Mr. Porter @mrporterlive
Nike @niketraining & @nikewomen
NYX Cosmetics @nyxcosmetics
Oscar de la Renta @oscardelarenta
Ouai Hair @theouai
Outdoor Voices @outdoorvoices
Warby Parker @warbyparker
WHO’S THE WINNER?
It’s a smart move by Instagram, on all fronts!
For Instagram, who resisted letting brands link out of the app for so long, it’s a sure-fire win. Users can snap up the latest offering from their favourite brands without leaving the app. Win!
Receiving a merchant fee from brands with each purchase, it’s a new revenue stream for the business that’s sure to see them drive the next phase of growth for Facebook. It’s widely predicted that Instagram will generate the majority of Facebook’s ad revenue by 2020.
And if you’re a brand… there’s no doubt it’s a win for you too!
From a brand’s point of view… such a boost in user experience will undoubtedly affect their bottom line in a hugely positive way! By not having to direct users to their website, brands are removing a major barrier affecting conversion rates.
The cost to brands in merchant fees is a small price to pay for the predicted spike in conversion rates achieved by utilising Instagram Checkout!
The benefits to user speak for themselves…
Not only does the checkout feature make for a seamless transaction, but Instagram securely saves your shipping and payment details for next time… making future indulgences even easier (take my money)!
Perhaps, one of the best parts about utilising in-app purchases as a user is the avoidance of having to sign up to another mailing list on a brand’s website to purchase. Plus, they’ll get shipping and delivery notifications right on the app so they can keep track of their purchase.
How cool is that?
Instagram is fast becoming a compulsory social media channel for brands and this new feature is sure to see its popularity explode in 2019 and beyond.
There’s no word yet as to when this amazing feature will be available in Australia, but all of us here at Knackmap will be watching with interest and, as always, will make sure our ecommerce clients are at the forefront of the latest developments!