Popular social media platform Snapchat is diving deeper into the eCommerce space with its latest acquisition – Fit Analytics. The new sizing technology company will enable the company to offer more to its current brand and retail partners by scaling Snapchat's operations.
According to a statement released by Fit Analytics, its "main focus going forward will be to scale the Fit Analytics business and work with Snap to grow their shopping platform, leveraging our technology and expertise. [The] teams will be jointly executing on next-gen shopping, fashion and style offerings."
The move follows several recent collaborations from Snapchat to make it a more robust shopping platform by improving its interactive features within the app. This is especially timely as more consumers have shifted to online shopping in the wake of the COVID-19 pandemic.
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What's Driving This Trend
- Social Media Ecommerce
- Snapchat's acquisition of Fit Analytics highlights the social media platform's expansion into eCommerce.
- Sizing Technology
- The growing interest in sizing technology, as demonstrated by the acquisition of Fit Analytics, presents opportunities for disruptive innovation in fashion and retail.
- Next-gen Shopping
- The joint efforts of Fit Analytics and Snapchat to execute on next-gen shopping hold potential for innovation in the eCommerce industry.
Who This Affects Most
- Social Media
- Snapchat's move into eCommerce highlights the potential for social media platforms to disrupt the eCommerce industry.
- Fashion and Retail
- The acquisition of Fit Analytics by Snapchat highlights the potential for disruptive innovation in sizing technology and eCommerce for the fashion and retail industries.
- Interactive Shopping
- Snapchat's recent collaborations to improve its interactive shopping features provide potential for disruptive innovation in the eCommerce industry.
