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Social media’s expansion into e-commerce, why now and how it benefits just about everyone

Instagrams mission statement is “to capture and share the world’s moments”. The company’s initial intent was to provide users with a variety of filters they could use to edit their photos on a personalized profile page. Since their launching in 2010, instagram has become one of the fastest growing companies in the world with its interactive and user-friendly features, naturally attracting millions of users daily. Through its interactive platform, instagram has redefined sharing ideas online by enabling its users to express ideas in a variety of ways ie., reels, hashtags, pictures, captions and also just recently implemented a new user interface, instagram shopping.

It’s no secret that online shopping has become the most modern way of purchasing just about anything. Since the pandemic turned our lives upside down, social media platforms, such as instagram, evidently had to adapt their technology to meet the users’ expectations with and since then, the platforms and options haven’t stopped flourishing.

In May 2020, Instagram announced a new shopping experience in order to allow businesses to keep on running and allow people to shop the things they love via their most used application. The feature presents a full screen storefront that allows businesses to build their brand story and support product exposure, all within a very familiar user experience. User’s can be referred to a shop straight from a business’ Instagram profile or Instagram stories. Once in the shop, users can browse through a variety of products, explore collections and lastly, purchase products. Instagram initially implemented the shop feature in order to provide businesses a centralized selling platform in comparison to the previous attempted features that required users to first search or follow brands in order to browse shoppable inventory.

As instagram strengthens its position in the e-commerce market, other social media platforms are following their lead. In the past year, TikTok has had a whopping 200% growth in users on its platform, which naturally led to businesses eagerly wanting to utilize the app’s popularity. In 2020 a survey showed that two-thirds of respondents said they were inspired to shop on the platform even though they weren’t planning on it. An example of this was a hashtag that went viral, #TikTokMadeMeBuyIt which generated 11 billion views and is still very much active. Snapchat too has launched its e-commerce platform and has been utilizing its domain for its e-commerce business. On another note, Instagram’s parent company, Facebook, is continuing to implement ad revenue having experienced a 56% year-over-year rise in 2021 according to Marketing Dive. That being said, obstacles within advertising are surfacing due to modification of tracking laws which could eventually impede Facebook’s ad business.

The interconnection between popular, growing social media platforms and e-commerce seems nothing less than necessary given the on-going expansion of both dimensions. In order to meet consumer expectations and increasing demand for online shopping and variety, digital channels such as e-commerce are the solution.

In order to get your business set up on social media platforms such as ‘Shop’ on Instagram, you are required to have an e-commerce site of your own already set up. Luckily enough, Lazzy provides a customized, branded, dynamic e-commerce platform for any and every business seeking to sell its brand in the easiest, most efficient way possible.

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