In the 1971 film, Willy Wonka & the Chocolate Factory, Charlie Bucket gets to try out Willy Wonka’s latest technological invention, Wonka Vision. For this, consumers watch an advert and simply reach inside to “grab” a chocolate bar. Fast forward to 2019 and Instagram is one step closer to turning this fiction into fact.
Instagram recently announced the launch of ‘Checkout on Instagram’, an in-app feature that allows users to make purchases without leaving the platform. The feature only requires a user to enter their billing information and shipping address the first time they shop via the app and from there they receive any delivery and shipping notifications inside Instagram, allowing them to track their purchases.
So far, the feature has only been made available to a hand-picked selection of retailers in the US, including big name sports brands such as Adidas and Nike, luxury designers Balmain and Burberry and high street retailers Zara and H&M. Having only been released last month, the feature is still in its beta stages, but it won’t be long until the feature is available to all retailers, and they need to be ready…
With 130 million people a month tapping on product tags in shopping posts, it’s easy to see why Instagram have seized the opportunity to become a stand-alone shopping app. However, for the consumer, not having to leave the app to make a purchase allows for a completely seamless shopping experience straight from discovery to payment. This is an important feature for today’s consumer, particularly millennials and Gen Z, who expect a personalised experience at their fingertips. With decreasing attention spans, not having to leave the app to load up a browser provides a powerful digital experience that blends social photo sharing with an instantaneous shopping purchase.
For the brand, it allows them to market products to an engaged audience with a typically high purchase intent and with less abandoned baskets it will open up the opportunity to create loyal relationships with their consumers.
But what does this all mean for retailers? Due to the fast pace of both fashion and technology, retailers need to be able to react quickly to serve their customer. With early adoption comes success, demonstrated by American fashion brand, Natori, who saw an incredible 1,416% increase in Instagram referral traffic to their website within weeks of adopting other Instagram shopping features.
However, with great power comes great responsibility and another platform to sell products on means more product data to create and maintain. Retailers need to overcome this to be able to react quickly and increase their speed to market. OMIO PIM optimises products in multiple channels to enable reduced lead times and the faster creation of new routes to market, allowing retailers to be the frontrunners for new and evolving shopping channels.
If you’d like to hear how OMIO PIM can increase your speed to digital marketplaces, click here.