As an Instagram Shop PM, I would set the conversion rate as the North Star metric. This is because the ultimate goal of an Instagram Shop is to drive sales and revenue. By measuring the conversion rate, we can understand how effective the platform is at turning users into customers. To improve the conversion rate, we would need to focus on several key areas. First, we would need to ensure that the user experience is seamless and intuitive, making it easy for users to browse and purchase products. Second, we would need to ensure that the products being sold are high quality, relevant to the target audience, and priced appropriately. Finally, we would need to ensure that the platform is effectively reaching the target audience through targeted advertising and other marketing efforts. Measuring the conversion rate as the North Star metric would allow us to stay focused on the most important goal of the Instagram Shop platform, while also providing clear guidance for how to improve the user experience and drive sales.