According to a recent report on The Verge, the social media platform, Instagram could be preparing its own standalone application for shopping. The application may be called IG Shopping will allow the users to browse goods from the accounts they follow and give them the option to directly purchase within the app. When asked to comment, there was no reply from Instagram.
According to the report, the development of the new application is still under process and there is no official release date declared or even fixed. Hence there is a possibility that the application can be cancelled before it is officially released. But according to the sources of the Verge, the social media giant is in a good place to diverse into the e-commerce.
The Chief Operating Officer of Facebook Sheryl Sandberg in the company’s most recent earnings call said, “More than 25 million businesses already have Instagram accounts, and 2 million of them are advertisers.” According to the numbers cited by Sandberg, the development of the shopping app will open a vast revenue resource for the company, as the user base is wide and spread wide across the globe.
Moreover, Instagram had introduced a shopping feature to test in November 2016. The new feature allowed companies to tag posts with products individually and the users can directly shop from the photos. Currently, Instagram is testing a feature which allows the users to shop directly from the stories. While Instagram has been launching new features to make the application more accessible and diverse, the shopping app could be a big step in terms of capturing new audience as well as creating another source of revenue from its users as well as business owners.
Comment down and let us know how will the new shopping app will impact the social media giant.