According to theverge, Instagram is building a standalone app called IG shopping as it aims to extend its influence in the e-commerce market.
The Facebook owned social platform is aiming to release the app to allow users to browse collections of goods from merchants and also purchase them directly within the app.
With up to 25 million businesses owning an Instagram account and over 2 million being advertisers, the app may be part of the social media’s strategy to keep users within its ecosystem.
Instagram had in past created and rolled out tools to boost business and is currently testing a feature that allows users to shop from Instagram stories.
Instagram revealed that over 300 million people use Instagram stories to ‘stay in the know with brands they’re interested in, get an insider view of products they like, and find out about new products that are relevant to them.’
With some companies already creating services and plugins related to promoting and managing an Instagram based business, it would be the right thing for IG to launch an app to generate more revenue.