Instagram Threads caused a stir when it was launched in 2023, attracting over ten million downloads within just five days. Although the initial excitement has since waned, Threads continues to grow steadily, with download numbers on the rise. According to AppFigures, it’s been steadily climbing the download charts and has reached 7th place worldwide in July this year. Meanwhile, its main competitor, X (formerly Twitter), isn’t even on the list. This points to a growing user base and a real opportunity for brands.

What’s the takeaway for businesses in Hong Kong? Brands should take first-mover advantage and join Threads now. Looking back at the early days of Facebook and Instagram, their organic reach and engagement rates were much higher to attract users to their platforms. Currently, Threads is in a similar explosive growth phase. As the platform matures, the algorithms of Threads are likely to become stricter. If brands miss this golden opportunity, it will be much more difficult to reach potential customers through organic reach down the road. For instance, according to data from Social Insider, the average engagement rate for brands on Instagram posts has dropped to 0.7%. Brands should immediately capitalize on this unique opportunity to gain a competitive edge.