As a way to further monetize Twitter, its CFO Ned Segal pointed to eCommerce as an important avenue to explore as it further expands its direct response advertising products, CNBC reported on Tuesday (May 25).
“You should be able to click and buy something on Twitter,” Segal said at the J.P. Morgan Technology, Media and Communications virtual conference. “We’ve come to appreciate that people do a lot of research on Twitter before they buy something.”
He added that people use Twitter to get expert advice about various merchandise as well as insights from pundits about sports, business and entertainment. Without a method of making an immediate purchase, real-time buying opportunities could be missed as people chat about a particular item or subject, per the report.
No further details were offered about how eCommerce could be integrated with Twitter or what fees might be involved. Segal said at the conference that the company is carefully considering its relationships with interested brands.
A “Shop button” was added to some tweets in March that integrated merchandise information as well as a link to purchase. Twitter is also exploring a creator platform with a “Super Follow” subscription.
As of April, Twitter said it had 199 million monetized users every day on its platform in the first quarter of this year, compared to 166 million during the same period last year. The company said it anticipates that its headcount will expand by at least 25 percent this year.
Earlier this month, Twitter said it is planning to roll out a subscription service called Twitter Blue and is in the midst of testing new features, including a way to undo tweets and access exclusive content.
The May installment of PYMNTS’ Pandenomics series showed that many people — even those who are fully vaccinated — prefer doing business digitally rather than going to physical stores. Efficiency and convenience were cited as the most important drivers leading people to keep ordering food, groceries and merchandise online and having everything delivered.