Pinterest 'Buyable Pins' now live
Importance: (For eretailers)
Recommended link: Pinterest announce buy it button roll out
Pinterest have just announced that the Buyable Pins Social Commerce feature they announced early last month is now rolling out, initially on iPhone and iPad. You can see the way these will work from this stylish promo page.
The decision means that has discussed for a very long time, the site is finally launching itself into the dynamic world of e-commerce. As Pinterest describe it:
"In the next few weeks, 30 million Pins all over Pinterest will become buyable.
You’ll start seeing buyable Pins all over Pinterest—in your home feed, on boards you love, and in search results. When you spot a Pin with a blue price, that means you can buy it.
Say you’re on the hunt for a new jacket. Try a search, then swipe through all the buyable Pins at the top of your search results. Filter by price to hone in on the right Pin for you".
Keeping traffic on Pinterest
Pinterest already refers the second largest amount of traffic for any social media site. It is behind only Facebook, and refers more traffic than Twitter, YouTube, LinkedIn and Google+ combined.
This new button will allow that traffic which is currently being referred to other sites to stay within Pinterest, as users will now be able to complete purchases either with credit cards or Apple Pay within Pinterest.
No fees for buyer or seller
Interestingly Pinterest has announced there will be no fees for either customers using the button or companies selling their products via it. This means the price will be exactly the same as on the sellers website, so they will be no need to leave Pinterest to an external site.
Instead of extracting revenue from the Buyable Pins, Pinterest plans on selling its promoted pins to retailers, who could promote Buyable Pins to sell their products to audiences they would not otherwise be able to reach.
Pinners Hungry to buy
There is certainly an appetite for a Buy it button among Pinterest’s users. A survey by Millward Brown, a digital research firm, found 93% of active users used Pinterest to plan purchases and 87% said they had bought something they had seen on Pinterest.
Pinterest currently has 4.7 million active users in the US alone, and this predicted to increase to 50 million by next year. So this isn’t something digital marketers can afford to miss, especially if they market for retail.
The feature is now live from today, so make sure to review how to get those buy it buttons set up on pinned pictures of your products using the integrations described in the link at the top of this post.
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