INSTAGRAM: THE ONLINE MARKETPLACE
With the evolution of new means of technology, everything became online. Today’s people are reliant on online. Everything is online from shopping to creating bank accounts. Similarly, online had paved the path for marketing. Online marketplace became the latest mantra for ecommerce. it aslo gave rise to Instagram marketplace.
What is a market place? It is the same as that of a farmer’s marketplace. Diving into the subject, an online marketplace is a site that brings buyers and sellers together. And also known as an electronic marketplace, where the transactions are made by the website owner.
The first online marketplace was introduced around 1995, when ebay was founded. Today there are a number of online marketplace like amazon, flipkart, snapdeal, myntra etc.
If you wish to make a hold in the ecommerce business, then an online marketplace is a must. To be profitable you need to identify and choose the best online marketplace.
IS INSTAGRAM A SCOPE FOR ONLINE MARKETPLACE ?
All we talked about in the online market is about e-commerce websites that connect buyers and sellers. But why does a social media app have to do with it? Let us dive right into it.
The one app which stole the hearts of millions and has billions of users is INSTAGRAM. You can change Instagram according to your convenience. You can use it as a messenger , share posts, add reels and you can also use it to get famous.
As we know technology keeps updating and everything gets updated. Did you know that there is a new feature introduced in INSTAGRAM. It is an ‘instagram checkout’. This new online marketplace allows brands and companies to sell their products directly on the media platform.
Instagram is very popular as it has a large user rate. It also has a higher engagement rate than any other platform. In checkouts you can onbserve that a brand advertises its product and the user had to exit the platform and go to the link to the website.
When you tap to view a product from a brand’s shopping post, you’ll see a “Checkout on Instagram” button on the product page. Tap it to select from various options such as size or color, then you’ll proceed to payment without leaving Instagram. You’ll only need to enter your name, email, billing information and shipping address the first time you check out.
Once your first order is complete, your information will be securely saved for convenience the next time you shop. You’ll also receive notifications about shipment and delivery right inside Instagram, so you can keep track of your purchase.
BENEFITS OF INSTAGRAM IN THE ONLINE MARKETPLACE.
Not everyone knows all the brands in the world. But you get to search the brand new brand which you never tried before. 80% of the users use checkouts just to search brands.
- We had a process where we were redirected to the website. But now Instagram lessens the burden by allowing you to proceed to checkout through a leaner process than before.
- A lot of excitement comes when we see a particular product, when we see it on instagram but it kills the urge to buy when we have to search for the website and then find our desired products. But instagram cut down on that reason which makes it easier to access direct links to the website.
- Instagram checkout feature’s buying process is short and it reduces the chance of buyers leaving their cart in the middle of the transaction.
- In the US the online marketplace has changed, where they had to market for high consumers, now can sell directly to the customers.
- Shopping through mobile is convenient to the customers. Before, it was a tricky business for customers to launch the order on mobile phones. But Instagram made it easier.
FEATURES OF CHECKOUT
- All Prices are for a product are available in USD $. If your product is tagged in other currencies, Instagram will directly link it.
- Your product is on instagram means you are subject to merchant terms and policies of instagram. Read them carefully and understand them. Information shared with your client will be saved.
- The seller try to use check out for their new products. You will no longer be able to attach external websites to your product. However, international customers other than the USA will have access to external links.
- So by adapting to new trends in the online marketplace can bring you huge profits and cut down on marketing prizes too.
Hope this article helps and keep using checkouts.
That’s all folks!