Wednesday 05-09-2018 12:00 Facebook Retail Instagram Instagram, the Facebook-owned photo sharing platform, is reportedly developing a standalone app that will focus on eCommerce. The app, which may be called IG Shopping, will enable users to browse collections of good from merchants they follow and purchase them directly within the app. According to The Verge, which cites two people familiar with the matter, development is still ongoing and a release is not yet guaranteed, with no launch date set. However, sources familiar with its development say Instagram believes it is well positioned to expand into the world of eCommerce, adding a significant new string to Facebook's bow. Instagram already boasts more than 25m business accounts, with 2m advertising on its platform. According to stats provided by Facebook's chief operating officer Sheryl Sandberg during the firm's most recent earnings call, 80 per cent of Instagram users follow at least one business. Instagram has dabbled with eCommerce before. It began testing a feature in November 2016 that enabled users to shop from posts, and rolled out this functionality to a wider audience in March 2017. Companies are able to tag posts with individual products, and link them to external sites where they can be purchased. Instagram is also currently testing a feature that adds the same functionality to its Stories feature. Spinning eCommerce out into its own app would provide consumers with a dedicated, visual-led platform for a variety of goods, directly challenging platforms like Shopify and Pinterest, while also providing Facebook with a new source of advertising revenue and a stronger foothold in the world of digital retail. A shopping app wouldn't be the first Instagram spin-off. The company introduced IGTV, a dedicated app for vertically shot videos that aims to compete with platforms YouTube, in June of this year. It has also been testing Direct, a messaging app that would more directly challenge Snapchat, since December 2017.
Instagram is reportedly working on a standalone shopping app that will enable users to browse goods from merchants they follow, and purchase within the app. An existing eCommerce function on the social media platform allows companies to tag posts with individual products and link followers to external sites. According to The Verge, the more direct new app is not yet confirmed for release, has no launch date and could be known as IG Shopping. There are currently 25 million business accounts operating on Instagram, with two million already advertising on the Facebook-owned platform