The wave of e-commerce that has been sweeping across various social media companies has finally caught up with Twitter, who anticipatedly unveiled the “Buy now “button, a feature that allows users to make direct purchases through Twitter.com and its mobile app.
Over the recent times, Facebook introduced Facebook’s Buy button; Saks Fifth Avenue launched its shopping portal, and Instagram announced its Like2Buy link. And after several months of speculation and pressure from many business analysts and retailers, respectively, Twitter unveiled the Buy Now button on Monday.
In essence, the Buy Now button will be embedded in tweets. It will allow users to make direct purchases by simply clicking on the button from their Twitter feeds. However, in spite of this good news, Twitter is very cautious about how the feature will work.
According to the head of commerce at Twitter, Nathan Hubbard, the feature will be rolled out to a “small percentage” of users and will only available in the U.S. Only two brands will pioneer the button—Burberry and Home Depot. In addition, twenty-six nonprofit institutions and musicians (including rappers Wiz Khalifa and Eminem, country singer Brad Paisley and death metal band Megadeth) were selected to deploy the feature.
Speaking about the select companies and artists, Mr. Hubbard said “They’re examples of partners that have done really innovative things on the platform” and “have a broader history of having a direct relationship with consumers”, hence can easily propel the new e-commerce feature to greater business heights.
Following the inaugural access granted to these two companies, analyst reports show that Twitter(NASDAQ:TWTR)’s shares have increased to 2.6%, trading at around $52 per share. Further projections from the analysts, especially based on Twitter’s strong presence in the world of technology, indicate that there is a huge potential for growth and profits by Twitter and its partners.
However, Robin Grant, the global managing director of a London-based social media agency called We Are Social, observed that some people may not even notice the Buy Now buttons, given how most feeds update quickly.
It remains to be seen how the button will impact Twitter and its partners. However, on paper, the Buy Now button is definitely a great step towards better social commerce and more profits by the company.