Twitter Inc (TWTR)’s Latest Attempt at Diversification and Income Generation

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As a part of its diversification drive, Twitter Inc (NYSE:TWTR) has introduced a ‘Buy’ button that is located within a tweet beside the messages so that a user who is desirous of buying a product or service can accomplish his objective by simply clicking on it. But caution is the name of the game where this San Francisco based micro-blogging social media platform is concerned with this new feature and to this effect, initially this button will appear for few selected users and commercial partners.

“The social network announced today a test that lets retailers, including Burberry and Home Depot, add the Buy button to their tweets. Only a small percentage of Twitter uses will see these posts for now, although that’s likely to increase over time.”

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Twitter Inc (NYSE:TWTR)’s intention underlying this introduction is to encourage users to take prompt action and make purchases without having to leave the platform. Suppose a user likes a product and decides to buy it, all that he is required to do is to click on ‘Buy’ so that he is directed to another appropriate page which is also on the same platform. It is on this page that sensitive information like payment and shipment details are asked for after which confirmation is provided and the order copy is sent to the concerned merchant.

Ensuring security of transactions is the big question here and Twitter Inc (NYSE:TWTR) has said that in addition to encrypting sensitive information, it will also not disclose credit card details to either party without mutual consent. Some of the prominent users who have expressed confidence in this system and have agreed to experiment this feature are pop singer Rihanna, Burberry and Nature conservancy which happens to be a non-profit group.

In the words of Nathan Hubbard, head of commerce at Twitter –

“We want to be a bridge between a consumer wanting something and getting it. Conversations are happening every second on Twitter with artists and charities and consumers, and many of those conversations are leading to transactions already.”

Acceptance is also visible through the rise in value of Twitter Inc (NYSE:TWTR)’s shares that rose by 3.8% to touch a high-point of $52.64 since March.

This article has been written by Vinita Basu.

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