Despite being one of the most popular social media platforms and microblogging sites for over a decade, Twitter has long struggled to be profitable. Recently, with The ongoing Elon Musk takeover bid fiascoTwitter income seems to be falling. That is one of the reasons why the company’s share price has also dropped significantly.
To counter that, Twitter is looking for new and sustainable revenue streams. One of the avenues that the social media platform is testing is online shopping. Twitter is testing a new feature called Product Drops that will preview upcoming product releases from different merchants. The new feature allows brands to test items before they go on sale, and users can sign up for a pre-launch reminder via in-app notifications. The idea is to eventually have a market on Twitter, like Instagram. However, as of now, the feature is limited to setting reminders only. “With Product Drops, when a merchant Tweets about an upcoming release, you’ll see a ‘Remind Me’ button at the bottom of the Tweet,” the company said in a blog post. With one touch, users can request to be reminded of the drop. Instagram’s revenue and profitability skyrocketed when they started their shopping program and allowed brands to embed direct shopping links in their posts. On launch day, users will receive an in-app notification in their Notifications tab 15 minutes before and at the time of launch, so they can be among the first to shop on the merchant’s website. When users click on the notification, they will see a “Buy on Website” button to purchase the item on the merchant’s website. If a user buys something using that link, they will not only get some benefits in the form of a smaller discount, but also have a viable chance of being one of the first people to get their hands on said product. The company said users will also be able to see the price, images, a product description and a clickable hashtag that will show them what other shoppers on Twitter have to offer. At this time, the feature is only offered to buyers in the US who use Twitter in English on iOS devices. Later this year, this feature will roll out to other regions, if Twitter can get the necessary approvals. Via: FirstPost