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Twitter Inc (NYSE:TWTR) “Buy Now” Button Makes Them Top Social Marketplace

Twitter Inc (TWTR)

Twitter Inc first tested its e-commerce efforts almost a year back, and now it is rolling out a ‘buy now’ button system wide, enabling the US retailers, whether big or small, sell physical products, digital goods or services all within a single tweet. With this, Twitter is back on track to become the biggest social marketplace in the world.

Twitter Inc (TWTR) Buy Now Button

On path to become biggest social marketplace

Twitter has partnered with all the major e-commerce platforms – Shopify, Bigcommerce and Demandware to make it easy for a variety of retailers to come on board, the firm said. For selling and sharing their products, the merchants can list their products on Stripe Relay. Best Buy is one big retailer on board. Twitter sees a huge demand for social commerce, adding that every month more than 50 million tweets say ‘I want’ or ‘I need’ something.

Twitter’s head of commerce Nathan Hubbard said the firm is the largest direct-to-consumer channel in the world. “We have been from the beginning working to try to make those conversations transactional while appropriate. Brands are building direct relationships with consumers and they’re using platforms to build those direct relationships. What they don’t always have is distribution,” Hubbard said.

Presently, Twitter Inc is grappling with a problem of stagnating user growth, and it hopes to generate a meaningful revenue stream with this new button. Twitter will be taking a cut from all the transactions, and hopes to drive ad dollars by helping retailers boost sales.

Twitter plans to lift 140-character limit

Another big change that the firm is reportedly working on is removing the 140-character limit, says a report from Re/code, citing people familiar with the firms plans. It is not known for now what the new Twitter product will look like, but it will allow users to tweet long-form content on the platform, says the report. Presently, there are products like OneShot that make it possible for users to tweet out blocks of text, but those are not actual tests rather images.

Re/code also mentions that the executives are having discussions over tweaking the way Twitter measures its 140-character limit. And are planning to remove the links and user handles from the count.

Despite the full-time CEO’s seat lying vacant, Twitter Inc is working hard to implement big changes. This suggests that interim CEO Jack Dorsey is in support of big changes, and is not waiting for the new CEO to arrive (which most probably be Dorsey himself).

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Aman is MBA (Finance) with an experience on both marketing and Finance side. He has work as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, playing PC games and cricket.