Snapchat’s busy week continued with yet more ecommerce features for advertisers and brands.
After announcing a partnership with Amazon to test visual search shopping, Snapchat is debuting three new features—one was previously in testing. The first, shoppable Snap ads now called Collection Ads, officially roll out in October to every advertiser. The company also announced that advertisers can now upload product catalogs to Snapchat to create a variety of ads. And finally, the Snapchat pixel is getting more specific and can more closely target Snapchatters who visit a site and see what types of pages they visit, as opposed to just knowing they went to a site.
According to Snapchat, Wish, eBay and Guess, who were all part of the initial testing group for Collection Ads, saw significantly higher engagement rates. Snap claims Wish’s engagement rate was 17 times higher, eBay’s was five times higher and Guess’ was over four times higher. Snap declined say what the baseline of the rates were. The company said engagement rates are based on a comparison between Collection Ads and Snap ads for the same items.
Snapchat also announced that it’s working with more than 40 new partners, including Mutesix and New Engen in the U.S. and Miri Growth and Nest Performance abroad, that can help advertisers create ads with ecommerce, direct response and data-driven capabilities.
Snapchat isn’t slowing down its ecommerce-targeted growth. That’s not completely surprising considering a recent report from eMarketer showed Snapchat is expected to add 1.2 million new teen users by 2022, and Facebook will lose 2.2 million. The company also partnered with Adidas to prerelease a new sneaker in August that sold out in six hours.
While Instagram faces uncertainty about its future, Snapchat is continuing down its path to become a one-stop ecommerce shop. However, Snapchat is also facing an uncertain future as several key executives left the company this year, and it reported a loss of 3 million daily active users in its latest earnings report.
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