15 Instagram Business Stats that you need to know in 2024
Instagram has integrated shopping features, enabling businesses to showcase products and sell directly through the platform. 44% of Instagram users use the app for shopping on a weekly basis.
Instagram serves as a tool for research and easy shopping, contributing to consistent user engagement. Here are the 15 Instagram Stats that you need to know in 2024.
1. 44% of Users Make Weekly Purchases on Instagram
In 2024, Instagram has become a prominent platform for business, with 44% of users incorporating shopping into their weekly routines.
Celebrities tagging brands in their posts has streamlined the purchasing process, fostering direct engagement. For instance, individuals interested in acquiring the Pink West top worn by Hande Ercel in her most recent Instagram story can conveniently make a direct purchase through the content she has shared.
Additionally, 70% of shoppers rely on Instagram for their next purchase decisions.
2. Nike is the Most Followed Brand with 306 Million Followers
Nike leads as the most-followed brand on Instagram, boasting 306 million followers, driven by consistent and engaging content generating over 20 million views on their reels. 12% users actively engage in Nike’s content.
3. 90% of Users Follow at Least One Business Account
Notably, 90% of Instagram users follow at least one business account, showcasing the platform’s significance for businesses seeking to build their audience, with over 200 million businesses utilizing Instagram for marketing.
4. 1 out 2 Instagram Users Discover New Brands
Half of Instagram users actively explore and discover new brands, with an impressive 83% finding the latest offerings. A substantial 62.3% engage in brand searches and product research, influenced by fashion influencers and celebrities.
Notably, 72% credit Instagram as a key influencer in their purchasing decisions.
5. 62.3% of Instagram Users Search Products
The platform transcends simple scrolling, as a significant 62.3% of users actively participate in brand searches and thorough product research. The influence of fashion influencers and celebrities is notable, as their reviews strongly impact audience decisions. In fact, 72% of users acknowledge Instagram as a key influencer in their purchasing choices, exemplified by Hania Amir’s post on Maybelline Mascara leading to a rapid sell-out.
Furthermore, 61% of users distinctly favour influencer recommendations over content generated by the brands themselves.
6. Video Posts Capture Attention with a 49% Higher Interaction Rate
Video posts on Instagram command a 49% higher interaction rate than static images, emphasising the growing preference for immersive content. Businesses, exemplified by Louis Vuitton, can strategically utilize this trend to create visually appealing videos for higher engagement.
Louis Vuitton Posted Pictures of the Remix Collection which received 22,724 likes while the Video of the same collection received 1.8 Million Views and 32.8k Likes which clearly shows the engagement rate of videos.
7. Business Accounts Share 2.5 Stories Per Week on Instagram
Business accounts post an average of 2.5 Stories per week on Instagram, with 70% of users watching branded Stories. 62% of users say they are more interested in a brand after seeing it in an Instagram Story. However, 70% of business accounts post stories on an everyday basis including Gucci, Prada, Nyx, Loreal, Chanel and so on..
Thus, consistent posting ensures that the audience remains engaged and invested in the Products offered by the Brand.
8. 70% users Welcome Ads on Instagram
Surprisingly, 70% of Instagram users welcome ads, providing businesses with a unique opportunity to create well-received advertisements. Given that 44% of users integrate Instagram shopping weekly, ads in feeds and Explore can strategically enhance brand reach and engagement.
9. Instagram Business Accounts Post 1.55 Times Daily
Instagram business accounts maintain an active presence by posting 1.55 times on the main feed daily, ensuring visibility and connectivity. Businesses like Rare Beauty, exemplified by Selena Gomez, post daily to achieve a substantial following, emphasizing the importance of strategic posting schedules aligned with user activity times.
Selena Gomez’s Rare Beauty Posts at least once a day due to which it has achieved 6.6 Million Followers with 3,531 Posts. Besides, Businesses can optimise their posting schedules to align with the times when users are most active on the platform.
10. 98% Fashion Brands Establish Presence on Instagram
98% of fashion brands are present on Instagram, reflecting the shift from live to online shopping experiences. Notable brands include Nike, Gucci, Dior, H&M, Victoria’s Secret, and Burberry, solidifying Instagram’s role as a key platform for the fashion industry.
Conclusion
In conclusion, the presented statistics underscore the paramount importance of Instagram for businesses in 2024. With 44% of users incorporating Instagram shopping into their weekly routines and a staggering 90% actively following at least one business account, the platform has evolved into a dynamic marketplace. The engagement levels are significant, with users not only exploring and discovering new brands but also conducting thorough product research. The influence of fashion influencers and celebrities further enhances Instagram’s role as a key player in shaping consumer decisions, as demonstrated by the notable success stories. With a receptive audience welcoming ads and the majority crediting Instagram as a crucial influencer in their purchasing decisions, the platform stands as an indispensable tool for businesses aiming to thrive in the digital landscape.
