Mark Zuckerberg Launches a 'Payments in Chat' Feature on Instagram
Niko Pajkovic — July 19, 2022 — Business
References: instagram & finance.yahoo
Meta CEO Mark Zuckerberg took to Instagram today to announce that the social media platform will be launching a 'Payments in Chat' feature that will enable Instagram users to purchase products from small businesses via direct messages. To start, the new feature will be offered exclusively in the United States.
According to the company, the new feature aims to streamline shopping expereinces on the app, addressing the fact that many users already reach out to small businesses with questions via DMs. Now users will be able to start a direct message chat with a small business and indicate their interest in purchasing a product. From there, they will be given a chance to pay for the product directly from the chat, as well as track their corresponding order.
Image Credit: Instagram
According to the company, the new feature aims to streamline shopping expereinces on the app, addressing the fact that many users already reach out to small businesses with questions via DMs. Now users will be able to start a direct message chat with a small business and indicate their interest in purchasing a product. From there, they will be given a chance to pay for the product directly from the chat, as well as track their corresponding order.
Image Credit: Instagram
Trend Themes
1. Payments-in-chat - The integration of payment features in chat platforms like Instagram Messenger and Whatsapp opens up opportunities for social commerce as users no longer have to leave the app to make purchases.
2. Direct Message Shopping - Direct message shopping is set to revolutionize the way users interact with small businesses on social media platforms, providing a personalized shopping experience and enhancing businesses' customer engagement strategies.
3. Streamlined Shopping - Streamlined shopping experiences on social media platforms like Instagram provide convenience for users and an opportunity for businesses to improve their conversion rates by reducing shopping friction.
Industry Implications
1. Social Commerce Industry - The integration of payment features in social media platforms like Instagram and Whatsapp will disrupt the traditional e-commerce industry and provide an opportunity for social commerce to take over.
2. Small Business Industry - The Payments in Chat feature will open up new opportunities for small businesses to expand their customer base, streamline their sales process, and increase their revenue through social media platforms like Instagram.
3. Customer Engagement Industry - The Direct Message Shopping trend on social media platforms like Instagram provides opportunities for businesses to engage their customers on a more personalized level and improve their overall customer engagement strategies.
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