I'm a bit late with this due to Audrey's birth, but we finally have shoppable posts in Germany, France, Italy and Spain (after the feature launched a year ago in the US).
Tagging products in posts has shown to yield a significant increase in engagement (Glossy). And of course you can now track more accurately what that engagement means for conversion.
We're always looking for great European brands that are kicking butt on Instagram. I'd love to know your favourites.