TikTok Is the Most Fearsome Competitor, Says Instagram CEO
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Instagram, which is a world-renowned photo-sharing service recently made an announcement regarding its features. It was on January 28, when the Instagram platform announced that it was in the process of bringing together two of its major priorities.
The firm revealed that these two major priorities include the new Reels feature for short-form videos and the online shopping feature. The firm revealed that it is planning to launch these services due to one of its competitors. It has been stated by Instagram officials that with these features, it is aiming to compete with TikTok, which is also a fast-growing social media platform.
With the help of the Reels feature, the creators and the businessmen would be able to tag products in the videos. The best thing about these tags is that the users will be able to tap them and get directed to the site where they can make the purchase from.
If they do not wish to watch the product at that time and save it for later, then they can set them aside with the help of the new feature.
With this, the Instagram platform aims to introduce a feature that would allow users to tap, view, and purchase the items directly through the website of the manufacturer. With the help of the Reels feature, the application would be able to interact more with the users and bring in more consumers.
The application would also revolutionize the video advertisement process as the viewers would be able to access the products directly from the video. This way they would be able to get directed to the product’s portal and continue with purchasing the item. This would in turn allow Facebook to charge more money for the advertisements.
Instagram announced that in the long-term, the new feature can prove to be one of the key contributors in the e-commerce sector for Facebook. With the help of the new feature, Facebook would be able to generate a new revenue stream.
The chief at Instagram Adam Mosseri also shared his thoughts around the launch of the new feature. He stated that it is extremely crucial for them to keep introducing new ways of making a living on the Instagram platform. Mosseri stated that if they are not able to do this for their employees, they will eventually leave and join social media platforms such as YouTube and Snap.
He stated that during the pandemic, people have realized the importance and convenience of purchasing things for their needs through remote channels and e-commerce websites.
Now, people are more used to going online and purchasing stuff than visit a place physically in order to purchase any items.
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