Instagram’s Insta Economy report and the Insta Gift Market.
Last Saturday, I attended Instagram’s Insta gift market event at the Old Spitalfields market in London.
It was so lovely to see Instagram supporting small businesses in the run up to Christmas.
Did you know that Instagram is becoming one of the most important platforms for small to medium sized businesses in the UK?
I got to find out more, at Instagram’s Insta Economy event, chaired by Ali Busacca, head of community at Instagram for Europe, Middle East and Africa.
A panel of small businesses were also invited to talk about their experiences using Instagram.
I was given a copy of Instagram’s Insta-economy report on small / medium businesses.
The research was conducted by Ipsos Connect, Development Economics and Morning Consult between August to October 2017.
Here are the findings from the Insta Economy report, hot off the press:
- There are 800 million global Instagram users.
- 25 million Instagram Business accounts.
- 2 million advertisers on Instagram
- 200 million daily active instagramers visiting at least one business profile every day.
- UK has 23 million Instagram users
- 1 in 3 UK small businesses have built their business on Instagram
- More than half of small/medium businesses in the UK using Instagram see the tool as a means to grow their business
- 1 in 4 people discover and buy products they find on Instagram.
- 80% of Instagram’s global community follow a brand
- 45% of UK small and medium sized businesses have hired employees as a result of growth in demand since joining Instagram.
- 51% of UK small businesses say Instagram is a way for them to connect with customers in other countries.
- Young entrepreneurs aged under 35 years are seeing some of the greatest and potential on Instagram. 61% plan to maintain and grow their investment on Instagram going forward.
- Projections for 2017 indicate that Instagram will contribute an increase in Gross Value added of 1.235 billion to the UK economy.
- By 2022, Instagram is expected to increase their Gross Value Added contribution to £6.776 billion.
- By 2022, jobs attributable to Instagram will be 106000, comprising 74000 direct jobs and a further 32000 indirect jobs.
Isn’t it impressive to think of how Instagram has morphed from a social app to one that is now essential for the economy?
Anyway, back to the Insta Gift market.
It was a wonderful opportunity to put face to an Instagram profile, and also to connect and discover new talents.
The beautiful tapestries above are by Elizabeth Pawle.
Aren’t they such happy and vibrant colours?
They would make really unique Christmas gifts don’t you think?
Check out this beautiful paint palette, belonging to Ocki from The Letter Bug Studios.
Ocki hand paints alphabets in a variety of designs and colours.
This Smoke and Musk candle is one of Earl of East London’s signature scents, and also their most popular product.
The scent is both smoky and woody, hence perfect for Winter.
I’ve been following Martha Brooks on social media for a while, so it was lovely to finally meet her.
I totally adore all her beautiful pastel coloured stationery.
After all the shopping and talking, I decided to take a lunch break.
Instagram had curated an amazing collection of food and drinks stalls.
This milk tea from Yifang Taiwan Fruit tea was delicious, and even better when heated up to drink on a cold day.
Now, this might make your mouth water, as it has mine.
I can still recall the delicious bites I took of Imad’s Syrian kitchen’s Lamb Toshkas, made of lamb, garlic, spices, cheddar and mozarella cheese, grilled on flat bread and topped with red onion pomegranate molasses and sumac.
Feast your eyes on these delectable Canelé from Babelle. They tasted as good as they looked.
After a wonderful lunch, it was back to shopping.
This is Ethical stories Ethical me’s stall. The owners have sourced ethical products from all around the world, each product comprised of an interesting story.
It’s often tricky to buy gifts for men during Christmas, so it was good to discover Men’s society, who produce handmade gifts for men.
Finally, here are a few of my buys.
I bought two sweatshirts from Smith Webb for my children. I love the slogans and the fact that part of the funds go to support Mental health and Anti-Bullying charities.
Anyway, hope you have enjoyed seeing the Insta Economy report and being introduced to new sellers. Have a wonderful week ahead.
( All photography are by Geraldine Tan, editor of Little Big Bell).