In attempt to connect with younger buyers, Nike and Instagram will be teaming up to create a new retail platform for the sneaker company.
Instagram plans to expand beyond photo sharing, branching out into the retail world to capitalize on the thousands of young consumers who spend hours scrolling the app daily. Instagram implemented a "shopping tag" which allows companies to create links to its retail website directly through a shared photo. Nike will be taking advantage of this feature, recently announcing its intention to partner with the social media app.
Consumers will soon have the ability to shop directly from Nike's Instagram feed which offers users streamlined access to retail venues. The popularity of social media sites has caused companies to seek additional sources of revenue, prompting new and creative ways to sell goods to younger consumers.
Social Media Sneaker Sales
Nike and Instagram Teamed Up to Sell Sporting Goods to Younger Buyers
Trend Themes
1. Direct Social Media Retail - The rise of social media platforms as retail channels presents an opportunity for brands to sell products directly to consumers through the integration of shopping features.
2. Youth-focused Marketing - Connecting with younger buyers through social media platforms like Instagram offers brands the chance to target and engage with a highly desirable demographic.
3. Innovative Sales Strategies - Companies are leveraging social media platforms and their features to devise new and creative ways to sell goods, fostering disruptive innovation in retail.
Industry Implications
1. Sporting Goods - The partnership between Nike and Instagram highlights the potential for disruptive innovation within the sporting goods industry by integrating social media platforms as direct retail channels.
2. Social Media - Social media platforms, such as Instagram, are exploring ways to expand beyond photo sharing and disrupt the retail industry by becoming a new avenue for online shopping.
3. Marketing and Advertising - The increasing popularity of social media sites necessitates innovative sales strategies, driving disruptive innovation in marketing and advertising to effectively reach and engage with younger consumers.