27 Sep Is Instagram the new main Media for fashion Business?
Over the past three years, Instagram has turned out to be the biggest social network for Fashion Business. The network has grown considerably thanks to their users and different actors.
Compare to other networks such as Twitter or Facebook, creator of Instagram, Kevin System said in different interviews that they wanted for Instagram to be a “safe place”, you are less likely to see mean comments or scandalous messages on Instagram than on Facebook or Twitter for example.
At the same time, Twitter has this “daily short blog” or “after-sales service” vibes and after 14 years of existence, Facebook was starting to feel a little old to the Millennial generation, but found a way to bring some new blood to their apps by buying Instagram for a little less than 1 billion dollars, and it was definitely worth it.
Instagram in numbers
In 2018, Instagram revealed its gigantic numbers.
Instagram is now worth over 100 billion dollars. With 1 billion users monthly and 500 million users daily, the social network put itself way ahead of its concurrence. Basically, that means that 1 out of 9 humans have an Instagram account and use it regularly, 20% of them located in the United States and 80% worldwide.
Of course, all these people are possible targets for younger and smaller brands, Instagram being a World window for these brands to reach for people.
Effects on business
The app is also making everything they can to help these brands thanks to its new professional tools, which help to find consumers regarding their localization, interests, thanks to Facebook’s algorithm to give it’s users the best personal content they could get.
It works so well that besides some partnerships with influencers, 53% of the brands represented on Instagram have seen their profits grow thanks to the app (source: Ipsos 2017)
The main purpose of Instagram has been to share images with other users, and we know how it is important for brands to have good representation.
The advertising has been introduced in 2015 on the platform and generated 3,3 billion dollars in 2016 and more than 5 billion in 2017.
In fact, other surveys tell us that 80% of Instagram users follow brands on their accounts (source: Instagram), 60% of the millennial generation would more likely buy a brand they follow on Instagram, and that number grows to 67% for the Generation X (source: sproutspacial)
Thanks to it’s “Stories” Instagram learned how to target the millennial market and went ahead of its concurrent Snapchat, which is losing users every day. They are now on the way to fight with YouTube thanks to IGTV (and other vertical OTT apps), which is also a great way for luxury or designer brands to display their new shows and collections.
Users of Instagram are more than happy to see this behind-the-scenes stories of brands and influencers, as Instagram beautiful images are in fact targeting the right person at the right moment.
Which is probably why Instagram decided in 2017 to launch its Shopping platform through the application. Any professional Instagram account can now join to its stories or pictures a link to purchase the related article on their websites.
In conclusion, Instagram has definitely eaten the world, putting itself on every corner, targeting its concurrence with similar platforms, but they also prove themselves to be the best option for a brand to impose itself on the market, finding new clients and having a better possibility to showcase themselves.