80% of UK Brands Miss Out on Instagram’s Sales Boost

  • Over 80% of national retailers have not adopted Instagram’s new shopping feature
  • Only 8% of UK brands are using the feature
  • Instagram Shopping has been rolled out in the UK, Germany, France, Italy, Brazil, Canada, and Australia
  • New Look, Screwfix, Miss Selfridge, and River Island are among those using it
  • Top retailers like ASOS, ASDA, Tesco, and Argos have not enabled the feature
  • 7% of non-users direct consumers to in-store, 19% to bio or website search
  • Cybertill CEO Ian Tomlinson urges retailers to adapt quickly

Instagram recently introduced a new ‘Shopping’ feature for business accounts, allowing users to tap tags and link through to retailer websites with a ‘Shop Now’ button. However, Cybertill found that only 8% of UK brands have adopted it, including New Look, Screwfix, Miss Selfridge, and River Island. Top retailers like ASOS, ASDA, Tesco, and Argos have not enabled the feature. CEO Ian Tomlinson advises retailers to adapt quickly or risk being left behind.

Factuality Level: 8
Factuality Justification: The article provides accurate information about the new Instagram feature and its adoption rate among retailers, includes relevant quotes from an expert in the field, and presents a clear opinion on the importance of adopting the feature for businesses.
Noise Level: 3
Noise Justification: The article provides relevant information about the adoption rate of Instagram’s new shopping feature by retailers in different countries and includes quotes from an expert in the field. However, it could benefit from more analysis or context on why most retailers are not using the feature and potential consequences for those who do not adopt it.
Financial Relevance: Yes
Financial Markets Impacted: The financial markets of companies involved in e-commerce and social media advertising may be impacted.
Financial Rating Justification: The article discusses a new feature on Instagram that could potentially affect the sales and marketing strategies of retailers, which can have an impact on their financial performance and stock prices.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article.

Reported publicly: www.retailsector.co.uk