Pinterest grows shopping features
Pinterest announced a new Shopping LIst feature to its platform that enables users to save every product pin that they have saved on Pinterest in one place, as well as being able to compare items by price, reviews and shipping services in the location.
The list feature is the latest in its lineup of tools that enable users to shop directory from pinned items, from Pinterest boards, and from within its search tools such as a tab dedicated to shoppable products or through its visual search tool. Additionally, Pinterest announced the full suite of tools will be expanded beyond the U.S. and the U.K. and into Australia, Canada, France and Germany.
U.S. retailers have used Pinterest to promote private brand products, such as Albertsons and H-E-B, as featured in this past profile.
In the U.S., U.K. and Canada, however, Pinterest also announced a two-week shopping event called “The Goods by Pinterest,” where limited-edition products exclusively sold through Pinterest will be hosted on the discovery platform. Emerging brands to be featured include Outdoor Voices, Olive & June, Lucy and Yak, Charlotte Tidbury, and Park and Fifth.
Pinterest, based in San Francisco, said especially in the fashion and beauty categories, new research from Dynata for Pinterest shows people who visit Pinterest weekly outspend non-Pinterest users by two times every month and have an 85% larger basket size.
What’s more, when advertisers like a retailer own brand, for example, adds direct-shopping ads to the mix, they drive three times the conversion and sales lift and twice the incremental return on ad spend, according to Pinterest.
“People have always come to Pinterest to shop — they use Pinterest to discover new ideas and actively consider what to do or buy to bring those ideas to life,” said Dan Lurie, global head of shopping products at Pinterest. “We want to help users to find products just right for them and feel confident that they've made a solid choice from reputable merchants with a seamless shopping experience. We’re excited that Pinterest users in more countries will now be able to go from inspiration to purchase anywhere on Pinterest, bringing us one step closer to our goal of making every Pin easy to shop.”