Cardinal Trading: Micro-blogging platform, Twitter, is to rollout a new e-commerce offering which will enable users to buy products from within a tweet.
Cardinal Trading has reported that Twitter, the micro-blogging service that went public last year is set to make its first foray into the world of e-commerce by introducing a “Buy Now” button that will enable users to buy a product from within a tweet without having to be re-directed to a third-party site.
The San Francisco, California-based social media company has teamed up with 19 partners to trial the concept including retailers Burberry, Home Depot and artists like Eminem and Pharrell Williams.
“They’re only going to be selling real, physical products; not virtual goods like gift vouchers. They feel that focusing on real goods is in keeping with the real-time aspect of their core service,” said Paul Sharkey, a social media analyst at Cardinal Trading.
According to Nathan Hubbard, Twitter’s commerce chief, partners can send tweets to users with a photo of an item and a “Buy Now” button. Twitter will save payment card and shipping address information using encryption and secure processing and enlist the services of mobile payments company, Stripe.
“This foray into e-commerce isn’t likely to set twitter’s revenues on fire just yet particularly as, initially, only 10 percent of the company’s users will be able to access it but, once they begin rolling it out across the remainder of the user base, it could very well make a sizeable contribution to their revenues. Who knows, they may even make a profit,” added Sharkey alluding to Twitter’s loss-making history.
Cardinal Trading says it maintains its sell rating on the stock advising clients with exposure to sell into price rallies.
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