Instagram just released its TikTok competitor Reels globally in August, and is already looking to monetize the format. The company revealed today that it will start exploring shopping at Reels later this year and will also start producing IGTV advertising videos internationally beginning today. Eventually, these IGTV videos will also be available from the Instagram Store, the app's dedicated shopping channel. Viewers will tap on an IGTV video and buy products they're interested in through the Instagram checkout or the vendor's website.
It's unsurprising to see Instagram attempt to do some shopping on Reels, although the timeline seems quick. Yet, over the last two years , Facebook has prioritized trading, which may lead to a greater position for online transactions. The business will usually take a cut from these sales, but it is holding back to raise these fees before the end of 2020.
Facebook CEO Mark Zuckerberg said in 2019 that he expected commerce and payments to be the future of the company, and given the quick rollout of back-to-back shopping updates, he seems to be making good on that promise.
