Meta is cutting down more features on the heels of its downhill. This time, Instagram’s Live Shopping feature is going to be the next target. Live Shopping is one of the most recent features that helps Meta’s expansion to the e-commerce market. However, apparently, the social network is now rethinking. In the midst of the crisis, Mark Zuckerberg’s company is making an effort to cut more costs including monthly payment for employees (the company has cut down more than 10,000 workers in the last few months) and operating fees for several services. Reportedly, Instagram is going to withdraw its Live Shopping feature starting from March 16th which is exactly 1 month to go. Then, sellers will be unable to tag their products during livestreams. Buyers who wish to purchase their desired items will have to wait until the live ends to go to streamer’s Instagram shop or send a direct message to the seller. Instagram market is well-known for fashion and beauty products which are clothing, cosmetics and accessories. It also targets younger audiences who love to experience and try new things, especially in terms of their look. Reportedly, Instagram is still the most influential social media to introduce and advertise these types of products.
The feature was launched in 2020, in the middle of the pandemic when we all had to stay and home and shopping online is a must. Probably because of the less effective it is right now, Meta is wounding it down. However, the Instagram shop is still available in posts, Reels and Stories without any change. Shopping is still a great potential that Meta still wants to take advantage of. Previously, TikTok also announced that the company is testing its own live shopping on the platform in North America. However, social-based shopping seems to take up only 5 percent of US e-commerce. The potentials and opportunities are right there yet limited since there are so many other platforms trying out this feature. The rivalry is clearly intense.
Instead of carrying on a non-profitable feature, Instagram is focusing on its “core features” instead which are postings and ads. The income of the company is heavily reliant on ads from legit sellers all around the world. Expectedly, the company might gain over $40 billion from worldwide ads with over 127 million users. Instagram influencers have been considered as the KOLs of the platform as well as the fashion and beauty industry. The representatives include the Kardashians and Jenners, Rihanna, Cristiano Ronaldo, The Rock - Dwayne Johnson and Selena Gomez. For more news and updates, visit our website daily.