Pinterest is a simple picture and video sharing platform where people have specific board for each of their interests. If they like something that appeals to their aesthetic, they can simply pin it to their board. However, most of the users were facing an issue that if they like a product that they would like to buy, they can only pin it and not buy it or know about the price.
As other social media networking sites are taking upgrade seriously, Pinterest has taken matters into its own hands just to keep up with the pace of other platform as well as to ensure that the users can now figure out a way to buy the product too. To make this possible, Pinterest is launching a browsable catalog just like the one in most of the e-commerce websites. These catalogs are also pinable which means that the users will be able to pin down the shopping ideas on their board and these shopping ideas are personalized according to the interest and preference of each user. Once users reach to a product pin that fits their interest, they can click the More from the brand option and can land on products from the same catalog.
The idea behind this new feature is to make Pinterest more engaging, making it easier for the users to shop along and also to increase the profit. With the help of this feature, the company will be able to collaborate with retail brands and this will double the return over the advertisement. This feature will not only help the users, retail brands but also Pinterest.
In order to support this decision, research was conducted by Neustar that explained that Pinterest is the most efficient digital channel where the retail brands can showcase their product. Moreover, a study also explained that the image pinning site has the ability to bring more sales at a very low cost. This clearly explains that Pinterest is a gold mine for retailers if used strategically. The study also examined the digital performance for five different retail brands in the US and tracked their sales as compared to the physical online store from various paid research, ad displays and social ads.
As other social media networking sites are taking upgrade seriously, Pinterest has taken matters into its own hands just to keep up with the pace of other platform as well as to ensure that the users can now figure out a way to buy the product too. To make this possible, Pinterest is launching a browsable catalog just like the one in most of the e-commerce websites. These catalogs are also pinable which means that the users will be able to pin down the shopping ideas on their board and these shopping ideas are personalized according to the interest and preference of each user. Once users reach to a product pin that fits their interest, they can click the More from the brand option and can land on products from the same catalog.
The idea behind this new feature is to make Pinterest more engaging, making it easier for the users to shop along and also to increase the profit. With the help of this feature, the company will be able to collaborate with retail brands and this will double the return over the advertisement. This feature will not only help the users, retail brands but also Pinterest.
In order to support this decision, research was conducted by Neustar that explained that Pinterest is the most efficient digital channel where the retail brands can showcase their product. Moreover, a study also explained that the image pinning site has the ability to bring more sales at a very low cost. This clearly explains that Pinterest is a gold mine for retailers if used strategically. The study also examined the digital performance for five different retail brands in the US and tracked their sales as compared to the physical online store from various paid research, ad displays and social ads.
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