This audio is generated automatically. Please let us know if you have any comments.
- To promote its e-commerce tools, Instagram is holding a pop-up store in New York to celebrate the third anniversary of its Instagram Shop account, the platform announced on Monday. The account has featured over 1,000 small businesses and just hit 1 million followers.
- The pop-up will take place in the Chelsea triangle on May 20 and 21. The social network primarily includes minority-owned home, beauty, accessories and fashion brands, including Hill House, Next Chapter Studio and Bon Bon Whims, according to the announcement.
- The platform is also hosting a live shopping event on May 19, featuring Bon Bon Whims Club founders and Estelle Colored Glass. It will feature the assortment of products on Instagram in the Editors’ Choice section of the Shop tab, according to the announcement.
Overview of the dive:
Since Instagram launched its Shop feature in 2019, the tool has become a hub for consumers to view live shopping events, browse curated items, and check out limited-edition product releases, enabling ultimately up to the company to gather more information for buyers’ personalized product recommendations. Now, Instagram Shop has reached 1 million subscribers, according to the company’s announcement.
New York’s Instagram popup follows the platform’s pivot away from focusing on photos. Last July, Adam Mosseri, head of Instagram, announced in a video that the platform will focus on creators, videos, purchases and messaging to try to take advantage of the rise of e-commerce. In addition to shops, the platform also has debuted Shopping on Reelsjoining other platforms like Pinterest and Snapchat to launch social commerce tools.
Of course, Instagram isn’t the only platform experimenting with live shopping. Its sister social app Facebook launched a series of live shopping in May 2021 with brands and retailers like Sephora, Clinique and Abercrombie & Fitch. In November, Pinterest also introduces live shopping via Pinterest TVwith brands like Allbirds, Outdoor Voices and Crown Affair.
Instagram, Facebook and Pinterest and other social apps are releasing these in-app shopping features as the social commerce industry booms. A Accenture Report 2022 predicts that social commerce will grow by $1.2 trillion by 2025, a trend driven primarily by Gen Z and millennial shoppers.