Pinterest promotes its ability to ring up purchases
Discovery platform Pinterest has unveiled new shopping features for retailers with private brands to leverage more direct buying opportunities.
In a blog post by Pinterest, Jon Kaplan, chief revenue officer, Pinterest, said weekly users of the platform are seven times more likely to say it’s the most influential platform in their purchase journey compared with other social media platforms, which is why it wanted to expand its shopping capabilities.
Pinterest and private brands already have shown to go well together. Albertsons and H-E-B leveraged the platform with some holiday dining programs. Albertsons also recently tapped the platform for a multi-year agreement to explore Pinterest’s Idea Ads video format and serve as a Pinterest Creator.
“At 4 p.m. every day, the number one food search on Pinterest is what’s for dinner, and Albertsons is delivering with inspiring and intuitive experiences that help our Pinners answer that question every day,” said Kaplan regarding the Pinterest Creators partnership. “Albertson’s forward-looking use of Pinterest only solidifies the critical role that online grocery inspiration will continue to play in the consumer journey. We’re thrilled to see how the team is creating quality content through multiple channels, from our API and AI innovations, to our burgeoning Creator ecosystem."
While Albertsons explores new tech with Pinterest, one feature Kaplan is highlighting among the new shopping features is “Idea Ads with paid partnership,” a build off the immersive experience that enables a joint partnership between creators and advertisers. The creator makes an Idea Pin video tags a brand partner or influencer, perhaps, and from there the advertiser can promote the Idea Pin as an Idea Ad.
Two other new features Kaplan touted in the Pinterest blog include:
Slideshow for collections — Shoppers on Pinterest have 85% biggers baskets than shoppers on other platforms and spend twice as much monthly, according to the blog, and a slideshow feature aims to fill bigger baskets. The video-like hero content presents multiple items in a slideshow format, automatically generating multiple items from the company catalogue.
Merchant details — To grab the attention of shoppers who want brands that stand for something, the merchant details feature enables companies to display a brand’s values like “responsibly sourced,” “Black-owned,” “inclusive,” and so on. Additionally, the values are tied to an expanded “verified merchant” badge added to companies that are vetted.
To promote some of these features, Pinterest is rolling out a video campaign Oct. 12. The ads emphasize the site’s goal to help shopper’s discover new items.