Twitter Expands “Buy Now” Service
Twitter is set to expand its e-commerce experiment following a successful trial with Amazon.
Twitter is working with 28 partners, from a range of industries, including retailers Burberry and Home Depot, artists such as Pharrell and Eminem, and non-profits such as RED.
In practice, a user will register their card details and delivery just once, which Twitter will encrypt and save. When one of the participating retailers tweets out a product with a “buy now” button, the user can click this and have it securely processed and shipped to their address. Whilst Twitter is initially launching the service with only physical products such as tour tshirts, virtual products, for instance singles will follow.
In an interview with CNBC, Twitter’s Head of Commerce, Nathan Hubbard, said this was in response to a world that was moving to on-demand services, to make the process quick and easy.
This move is not only a way to boost revenue for next year’s earnings, but also a new way to coax lurkers who use Twitter to take the plunge and register. Participating retailers may embed the “Buy Now” button into both regular and promoted tweets.
It will be interesting to see just how retailers utilize the tool, will we see lots of Groupon-esque deals which have a time limit, or will they be targeted tweets based on what users have been shopping for in the past? Hubbard certainly hinted at some sort of targeting:
“First, we’ll use the signal and the incredible data that we get from tweets to really tailor the experience to you”
One company I can particularly see this benefitting is StubHub., especially given that Hubbard is the former CEO of Ticketmaster. Twitter is already heavily used as a platform to advertise users’ spare tickets for events, and this new capability gives StubHub the ability to boost sales for the most demanded tickets, or tickets for fast approaching events with just a tweet.
Twitter partnered with mobile payments company Stripe, as well as e-tailer Fancy, along with Gumroad and Musictoday, for the initial test.