Dive Brief:
- In a push to encourage commerce on its app, Snapchat has introduced a new type of shopping lens that lets users browse multiple products in one place, the social network announced on Wednesday.
- Using the lenses, shoppers can review product information such as colors, sizing and pricing, as well as look at similar products from the retailer, according to the announcement.
- Consumers can use the new lenses to shop at Ulta Beauty and MAC Cosmetics, but the app will add more brands "in the coming months," Snapchat said.
Dive Insight:
Over the past few years, Snapchat has invested heavily in its shopping experience, including through collaborations with a variety of retailers to create shoppable experiences in the app.
In February 2021, the social media platform teamed up with American Eagle to launch an AR-enabled jeans guide, which let shoppers virtually view American Eagle jeans in different fits and washes. A few months later, Snapchat and Poshmark launched the Poshmark Mini social shopping experience, which allows users to attend virtual shopping events, browse curated product selections and purchase items from popular brands within the social media app. Last July, the platform also introduced a shopping experience in collaboration with Verishop called Verishop Mini.
In its latest announcement, Snapchat said users engage with its augmented reality lenses more than 6 billion times per day, and that 93% of them want to use those AR lenses for shopping. The company noted in its release that in addition to allowing users to try on products, they can also share what products they're testing out with friends.
As Snapchat adds new commerce features, research suggests that growth within the broader international social commerce industry could exceed that of e-commerce. A January report from Accenture predicts social commerce will reach $1.2 trillion by 2025, with growth driven primarily by Gen Z and millennial shoppers who will comprise 62% of worldwide social commerce spending by then.
