First I will be looking into Instagram's 'shop' feature; It could be argued that Instagram is the leader for the influence of other apps such as Depop or the layouts of those apps such as ASOS with its rectangular symmetric boxes and simplistic background design. Instagrams shop feature gives businesses (who are labelled as such through the social media) an ability to have an 'immersive' experience with its followers, Instagram claims 'with shopping on Instagram, you can choose photos you'd like to feature, tag up to five products per image or twenty products per carousel' an undisclosed source for Big commerce.com claim that 'Early adopters of the technology are reporting increased traffic and sales from Instagram as a result of the tagging capability.' I think this to be interesting, as the feature has come into play I have seen nothing but the shop feature to be promoted when I follow brands, only by my assumption I can guess that this must mean that the new feature is working, right? with no source or direct confirmation of who has said the quote, I can take this a face value, however, I believe there is some truth to the fact Instagrams shop feature works. Kevin Weil (employee of Instagram) states that there are over 800M of monthly active Instagram users, 500M of daily users and 70% of users follow at least one business account according to Instagram. Whether brands are advertising or building an audience-Instagram has fast-tracked hundreds of thousands of sales. The brand Natori claims that they have had 1,416% increase in sales since Instagram introduced the shop system; 'Instagram has played a major role in helping us build a brand, and we love how the new shopping features allow us to easily showcase our products in a way that feels authentic to the community we’ve built,” said Ken Natori, President for The Natori Company. “In just a few short weeks of using the new shopping features on Instagram, we’ve seen a 100 percent increase in revenue from the channel and a massive 1,416% increase in Instagram referral traffic to our website.” This information alone confirms just how successful Instagram's shop feature is, in knowing what I do, I believe that it is a true competitor of Snapthat.
Next, I started to look at Depop, it has a similar concept to Snapthat In that it is is an app but that is where the similarities end as the app allows you to buy second hand or vintage clothing from others, similar to eBay in the early 2000s. Depop has only been available to UK users since 2014, however, in the last year alone, Depop users sold $230 million worth of clothes and estimated to double in value to $460 million by the end of 2018. Money like this is not something to second guess, therefore, It can be agreed that Depop is very successful, another reason Depop could be a competitor to me is the fact that 80% of Depop users to be under 25 years old, according to Forbes. I believe that Depops success all comes down to the easy steps, the first being the easy access, no longer do we have to scroll to find the garment we as consumers are looking for, with an easy filter and search section at the tap of a screen. Another reason is that of Depops support for 'entrepreneriual' youth who are encouraged to source, style or design for the general public.
Overall, I feel like Depop is not much of a threat to my mock app in comparison to Instagram shop as the success stories are not as strong even though Instagram shops have been around for a lot less of time. From this research, I will take with me the strong sense of knowledge that social media shopping works! Knowing this means that I have all of the knowledge to pursue Snapthat knowing that Social Media shopping is at an all time strength.
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