As individual high street owners continue to fight for their place on the consumer shopping radar, it seems that so too is the competition within ecommerce business between the online digital sector and social platforms.
Online retailers such as Amazon, eBay, Etsy and Shopify have enjoyed greater growth in ecommerce business for some years now, building their brands to carry a wide range of stock by acting as a one-stop-shop as a place for consumers ‘to go to’ when shopping online. On the other side, social media platforms have also sought to build their own technology so that they too can enjoy a piece of the pie.
Whilst Facebook and Twitter have enjoyed revenues from adverts and buy buttons for some time now, Instagram was a little slower in building its own reputation and defining its place in the market but has been slowly expanding over recent years and has proved to be especially popular in the age 16 -38 year old category.
Currently with 1 billion active monthly users, Instagram’s aim is to offer a lifestyle experience with a feed that features beautiful images which are full of colour and texture, to promoting products, lifestyle, living and travel. Further to this, Instagram is now the latest to join this with its new feature ‘Checkout’ available on allocated images. It is predicted that the Instagram brand could offer something very different and could explode the ecommerce market. Challenging new ideas whereby you could upload a picture of a friend and tag which shop that she brought her top from or endorsing products through high profile celebrities, could generate substantial revenues for businesses in the future.
Looking to support your ecommerce business?
Crendon Insurance Ltd can help! With many years worth of online retail experience within the sector we support online retailers who require liability cover for supply chains, stock, dispatch and courier services. For a further review of your ecommerce business please use our online retail questionnaire or contact us throughout online retail website page for more details.
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