Okay guys, it’s the fourth of August – time for our monthly review on what has happened in Social Commerce so far. And to be honest, we are a little bit disillusioned at the moment. When we came up with our “Five reasons why 2016 will be the year of Social Commerce” piece back in January 2016 we were confident that things are going to move on more quickly. But as the experience of the recent months teaches us, major players such as Facebook, Instagram and Twitter are still struggling to get their foots on the ground. Good for us as we are still growing and strongly benefitting from our market-leading positions, but a few attempts of Snapchat, Instagram and Carousell are worth mentioning, too.
Snapchat Explores New Scannable Ads
Snapchat is working on a new type of ad that would allow people to use their smartphone cameras to unlock special sponsored content in the app. The feature lets people scan an image or barcode on a poster or a website, which later gives them a special deal on a product, according to two people briefed on the company’s ad strategy.The ad format is currently in development but one of these people said it’s expected to roll out this fall. It’s also possible the product gets delayed or shelved entirely.
Instagram’s new stories are a near-perfect copy of Snapchat stories
In a bold expansion designed to capture more of users’ everyday photos and videos, Instagram today introduced “stories,” a secondary feed of ephemeral content that is available for only 24 hours from the time of posting. The feature is nearly identical to the central feed in Snapchat, which is also called stories and which helped supercharge the company’s growth rate after it was introduced in 2013. Encouraging users to post more frequently — and more candidly — about their lives, Instagram’s introduction of stories could fundamentally change the nature of an app that has 300 million daily users.
Q&A: Social commerce in 2016
E-commerce and social media increasingly go hand in hand as consumers grow ever more tech-savvy. Here, Fabian Spielberger, founder of Pepper.com, discusses the state of social commerce in 2016.Pepper.com is the world’s largest group of social commerce networks that are currently used by more than 25 million users and generate an average of 500 million page views every month.
Southeast Asia-based Carousell raises $35M for its social commerce app
Carousell, a four-year-old startup from Singapore behind a listings app that enables peer-to-peer selling in Southeast Asia, has closed a $35 million Series B round to grow its reach into new countries and increase product development. (…) The app started out in Singapore as “a passion project to solve our own problems,” Quek said in an interview with TechCrunch. The simplest way to describe Carousell is a Craiglists for mobile via its iOS and Android apps. It uses a chat-style interface with photo uploading options to connect consumers who are interesting in buying-selling items together.
Michael Kors invests in social commerce
American luxury brand Michael Kors is relaunching #InstaKors on Instagram to create a more seamless shopping experience for its 8.2 million followers, according to Luxury Daily.The brand will place #InstaKors within the caption of its Instagram posts when showing off products to its Instagram followers. These followers will be able to click on a hyperlink located on the company’s Instagram profile, which automatically directs them to the #InstaKors website. The #InstaKors website will mirror the Instagram feed and allow online shoppers to click and purchase products depicted in its Instagram pictures. The #InstaKors feature is currently only available to US consumers.