Instagram will host a pop-up store in New York

To commemorate the third anniversary of Instagram’s @shop account, the social media company will hold a two-day physical pop-up store in New York City next week, the company announced on Monday (May 16).

This will allow people to browse and buy popular products from @shop listings. Instagram said @shop has featured more than 1,000 small businesses and their products since 2019, when it was founded.

The company also said that @shop recently passed the one million subscriber threshold.

“To celebrate its 3rd anniversary and reach 1 million followers, come check out some of @shop’s biggest spring and summer hits on Instagram and in person at Instagram’s first pop-up store in New York City,” said writes Instagram. “Note home, beauty and lifestyle finds mostly from small, minority-owned businesses, including products exclusive to this @shop pop-up!”

This isn’t the first time Instagram has hosted a pop-up store, as it has done in London and Berlin before.

Having more accessibility to offline shopping is part of the company’s attempt to expand its reach. Video has long been the focus of Instagram, but people are also using it to browse retail items. Instagram said 70% of users used it to discover products, and 87% of users said the platform’s influencers led them to buy something or go on a trip.

PYMNTS wrote that Instagram has also gotten into the non-fungible token (NFT) game.

See also: Instagram is testing NFT sharing with some creators and collectors

Select creators and collectors of NFTs, the digital collectibles that have become super popular on the Internet in recent months, will be invited to share their creations as part of a pilot program.

Meta, Instagram’s parent company, said it is “looking at what creators are already doing through our technologies to improve the experience, help them create more monetization opportunities, and bring the NFT to a wider audience”.

The company plans to test digital collectibles with features like connecting the digital wallet where the NFTs are located and auto-tagging the creator and collector.

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NEW PYMNTS DATA: THE TRUTH ABOUT BNPL AND STORED CARDS – APRIL 2022

On: Shoppers who have store cards use them for 87% of all eligible purchases – but that doesn’t mean retailers should start buy now, pay later (BNPL) options at checkout. The Truth About BNPL and Store Cards, a collaboration between PYMNTS and PayPal, surveyed 2,161 consumers to find out why providing both BNPL and Store Cards is key to helping merchants maximize conversion.

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