Episode Details

Instagram is powering impulse luxury purchases, Snapchat launches commerce (for influencers), IKEA rolls out robot furniture, PLUS: Stitch Fix earnings are in, and the outcome might surprise you. Listen now!

Show Notes:

Main Takeaways:

• Snapchat seems to either be making a comeback, or they're just really good at getting people to buy things.

• Is social commerce the future of shopping?

• Could social shopping be a new form of clientelling?

Don't Call it a Comeback: Snapchat Snaps Back:

• In the first story of the week, Snapchat seems to be making some real power moves, including opening a pilot of in-app shopping of influencer brands, which is super exciting, and kind of on-trend for commerce right now.

• Brian questions whether Snapchat is making a comeback or if they're just really good at getting people to buy things.

• Phillip lays out some Snapchat facts: Snapchat has increased its global user base by 4 million in Q4, upping their daily user base to 190M.

• According to Business Insider: "The Android app produced a 6% increase in the number of users sending Snaps within the first week of upgrading, per Snap's earnings report".

• Could it be that Snapchat is growing in overseas use?

Social Commerce is Cool: A New Avenue to Reach Customers:

• So it's not just Snapchat that is doing in-app commerce: both Instagram and Pinterest have introduced similar programs.

• Pinterest introduced social-shopping in their application in March, making it easier for brands to showcase their products on Pinterest boards.

• And Instagram got significant headlines when they introduced a pilot program for in-app shopping, for select brands.

• And here's the thing about Pinterest, they just brought on Jeremy King former CTO of Walmart, which means they're probably going to be stepping up their game big time.

• Phillip's prediction for 2020: Amazon and its big-tech cohorts are going to have to form partnerships to take part in social commerce. The reasoning behind this is that many of these companies are browse-and-buy first, audience second.

Could Social Media Status Determine Credit Worthiness in The Future?

• So, with social commerce being the huge trend there is, Phillip points out that Facebook marketplace is a massive example of this.

• And the Facebook marketplace is essential, social shopping, and with local retailers putting up inventory on the platform, it can bring local-commerce global.

• Brian says that the Facebook marketplace can make clientelling easier because it's easier to service your clients one-on-one.

• So in another story for this week: Cheddar has a video out in which Allison Chiaramonte, an agent at Warburg Realty explains how real-estate agents are turning into influencers and using Instagram to get their listings in front of more people.

• Could this kind of trend turn real estat