Digital Retail News
Instagram Plans Retail Expansion
In an interview with the Financial Times, the head of Instagram has spoken about his long-term ambitions to develop the retail aspects of the platform.
Adam Mosseri, who has held the CEO role since October last year, explained that he is looking to 'connect the dots thoughtfully' between Instagram's users, sellers and influencers.
He noted the importance of a native checkout, or 'in-app checkout' functionality - introduced in April this year - and the ability to store items in online shopping bags ahead of purchase, stating, “we can unlock a lot of value from everyone involved”.
The infrastructure requirements for the expansion, such as partnerships with payment providers in each country, inventory management and buyer-protection features mean that the timescales associated with the development are long-term, rather than short-term.
Adam Mosseri said: “That world is hyper fragmented... So it’s a very, very long lead time. This isn’t a one year thing, this is like a five to 10-year project.”
Instagram has more than a billion users and research by GlobalData shows that 38.7% of online shoppers aged 16-24 have already used Instagram Shopping to purchase an item.
Source : Insight DIY Team
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