How Many People Use Instagram Shopping in 2024? A Booming 130 Million!
Hey there! Have you noticed how Instagram has become a go-to place for people to shop online lately? In 2024, over 130 million Instagram users tap on shopping posts and use Instagram Checkout every single month.
That‘s double the number from last year!
With shopping behaviors rapidly shifting online, especially towards visual platforms, Instagram has innovated to meet this demand. The app makes browsing and buying products quicker and more convenient than ever.
In this in-depth guide as your trusted online friend, we’ll explore Instagram shopping trends, who uses it and why it‘s booming. I’ll also overview key Instagram shopping features, tools, requirements for setting up shop, and the pros and cons for shoppers and businesses.
Let’s jump in and unpack the latest data on how many people use Instagram for shopping in 2024!
How Many People Use Instagram Shopping in 2024?
As a quick refresher, Instagram has over 2 billion monthly active users worldwide. Out of that huge user base, over 130 million users now tap on Instagram shopping posts and use Instagram Checkout every month.
To put it into perspective, that‘s like the entire population of Mexico actively engaging with Instagram shopping features!
Here are some more eye-opening stats:
- 130 million Instagram shoppers represents a 100% year-over-year increase, signaling massive growth.
- 90% of Instagram users follow at least one business account, representing a huge potential audience for brands.
- 500+ million accounts visit Instagram Shops every month, the platform‘s built-in digital storefronts.
- The number of active Instagram Shops increased 10x over the past year as more businesses jump on board.
- 25% of Instagram users have made a purchase directly on the app without leaving it. 1 in 4 users is now an Instagram shopper.
- Top products people purchase on Instagram include fashion, beauty and home decor items.
Clearly, Instagram shopping is booming! But why the sudden growth?
Why Instagram Shopping Is Exploding
The COVID-19 pandemic was a key catalyst. With less in-person shopping, people turned to online shopping. Instagram capitalized on this by connecting shoppers with businesses through features like Instagram Shops and product tags.
But Instagram also saw an opportunity pre-pandemic. They noticed users increasingly turning to Instagram for product discovery and shopping inspiration from influencers and brands.
By adding convenient native shopping capabilities, Instagram provided a seamless path from finding a product to checkout. Removing friction led to higher conversions.
For businesses, Instagram shopping features provide a powerful sales channel to reach over 2 billion potential customers. Setting up an Instagram Shop acts as a turnkey ecommerce storefront.
The rise of influencer marketing on Instagram also contributes to its shopping dominance. 46% of users rely on influencer recommendations for purchasing decisions.
With its visual nature and expansive reach, Instagram is uniquely positioned for social commerce. As the experience improves, even more users are likely to shop directly on Instagram.
Key Shopping Features on Instagram
Instagram Shopping refers to the variety of native features that enable ecommerce transactions directly within the app:
- Instagram Checkout: Streamlined checkout experience for Instagram Shops.
- Shopping Tab: Browse shoppable business profiles and curated products.
- Live Shopping: Brands can sell products in real-time during live videos.
- Shopping Stickers: Tag and link products in Instagram Stories.
- Product Tags: Tag products in posts and ads to link to checkout.
These features allow brands to connect with the 44% of Instagram users that engage with shopping content. Let‘s explore the capabilities and benefits of Instagram shopping features for businesses and consumers.
Instagram Checkout
For approved businesses, Instagram Checkout provides a fast, simple buying experience for customers. Brands can generate product checkout links that allow purchases without leaving Instagram.
In 2020, Instagram even waived its selling fee to get more businesses using Checkout. It‘s currently either 5% of the order cost or a flat $0.40 fee per order under $8.
For shoppers, Checkout allows them to complete the whole shopping journey on Instagram. This convenience converts more casual product discovery into sales.
Shopping Tab
One of Instagram‘s newest shopping features is the Shopping tab on the homepage. This lets you browse curated Instagram Shops and featured products from brands you follow or might like.
For businesses, having your Instagram Shop showcased here gives your products visibility and discovery to new shoppers. Users can see your full catalog of taggable products.
Consumers get an easy way to find new brands and shop suggested products in one place without having to follow a bunch of business accounts.
Live Shopping
Live shopping on Instagram has seen massive growth, especially in 2022. Select businesses can tag products during live videos and followers can shop those items in real-time.
Brands love live shopping because it drives urgency and impulse purchases from the audience. Fostering that connection also strengthens loyalty.
Shoppers enjoy the entertainment aspect of live shopping alongside celebrity hosts or influencers. It provides a more interactive experience that feels lower risk than traditional online shopping.
Stories Stickers
Instagram Stories have become a popular way for businesses to promote products more casually with short videos or photos.
The shopping sticker allows you to tag individual products in Stories. When viewers see a product they want, they can tap the sticker to reveal your shop profile and checkout.
Stories stickers add a unique way for brands to link shoppable product imagery that feels authentic and native. 300 million accounts use shopping stickers every month.
For customers, it adds a seamless way to purchase something discovered on Stories without disrupting their scrolling.
Product Tags
Product tags on regular Instagram posts, ads and videos are a staple for enabling shopping. Brands can tag individual products in their content, which adds a little tag icon.
When users see a product they want to purchase, tapping the tag lets them view pricing, variants, and checkout on your business profile without the app.
This removes friction from someone discovering a product on Instagram to becoming a paying customer. Affiliate marketers often direct-tag brands‘ products in their content too.
Instagram Shopping Tools
Alongside its built-in features, Instagram offers additional tools to power shopping and conversions:
- AR product try-on: Virtually "try on" glasses, makeup, apparel, etc.
- Carousel posts: Display up to 20 products in a carousel post.
- Guides: Share tips, product roundups and UGC reviews to link.
- Dynamic ads: Advertise products dynamically from your product catalog.
- Retargeting ads: Remarket to users who engaged with your products.
- Instagram Shop analytics: Provide key business insights into your Instagram storefront.
These capabilities help turn casual browsers into paying customers. Branded AR try-on experiences bring products to life. Guides and UGC act as social proof. And ads keep your brand top of mind.
Selling Requirements on Instagram
But Instagram has rules around which businesses can access its shopping and selling features. These policies ensure legitimate brands use Shopping and protect the community.
Here are some of the main requirements to sell on Instagram:
- Your business must be located in an approved country. Most major countries are approved.
- You need a proper legal business structure and government registration like an EIN.
- The products you sell have to comply with Instagram‘s allowed goods policies.
- Your account must be converted to an Instagram business profile, not a personal profile.
There are additional requirements around having a public external website, product image policies and setting up a product catalog through Meta Business Suite.
But meeting the criteria above are key first steps that give you access to tools for selling on Instagram. Otherwise, any user is free to simply shop on Instagram and make purchases.
Pros and Cons for Shoppers
Now that we‘ve explored Instagram‘s shopping landscape, let‘s discuss the pros and cons of buying on Instagram for shoppers:
Pros:
- Discover new brands and products that align with your interests.
- Seamless checkout without having to visit external sites.
- AR try-on experiences for virtual "fitting rooms".
- Shop limited edition and exclusive product drops.
- Gain access to discounts and special offers.
- Enjoy entertainment of live shopping with creators.
Cons:
- Potential lack of buyer protection compared to external sites.
- Items may be priced higher than other online retailers.
- Oversaturation of ads and influencer marketing pushing products.
- Less ability to compare competing product info side-by-side.
- Easy to overspend impulsively without a cart checkout flow.
There are clear benefits for consumers to shopping on Instagram like convenience. But potential downsides exist too, like overspending on impulse buys.
Pros and Cons for Businesses
For brands and ecommerce businesses, here are the main pros and cons of selling on Instagram:
Pros:
- Massive audience reach of over 2 billion users.
- Low barrier to start selling quickly.
- Features drive higher conversions compared to external sites.
- Showcase products visually with native images and video.
- Leverage influencer marketing for organic promotion.
- Ad targeting based on people‘s interests and habits.
Cons:
- Required investment in content creation and ads.
- Instagram limits how you communicate with customers.
- Handing over checkout data and portion of sales to Meta.
- Less ability to segment and retarget customers for recurring sales.
- Can be hard to track ROI across multiple marketing efforts.
Overall, most businesses today see tremendous value and ROI in establishing a presence on Instagram Shopping. But it does require an investment of time, money and resources to see success selling on Instagram.
Conclusion
We‘ve covered a lot of ground exploring Instagram Shopping – from analyzing its massive user growth to outlining key features for businesses and shoppers.
The 130 million people using Instagram Shopping monthly demonstrates its booming popularity. And with shopping continuing to shift online, that number is poised to grow even higher.
For businesses, getting set up on Instagram Shopping can provide immense exposure and sales. But be sure to carefully validate if it‘s a good fit and allocate proper resources.
As a consumer, Instagram now offers a hugely convenient way to shop from your phone. Just be mindful of how the platform‘s psychology can enable overspending. Moderation is key!
I hope this guide provided an insightful overview of the Instagram shopping ecosystem in 2024 and empowered you to strategize your approach! Let me know if you have any other questions.
Sources:
https://www.businessofapps.com/data/instagram-statistics/
https://business.instagram.com
https://sproutsocial.com/insights/instagram-stats/
