Pinterest and the latest e-commerce features
Pinterest has been a great way for companies to show off their products and reach a further audience since 2010. The platform allows users to share images, GIFs, and videos in the form of pinboards. Although the platform has been more beneficial for fashion and home in previous years, the new updates could also push more e-commerce companies towards the platform.
The image-based platform, has introduced new ad monetization to upgrade the shopping experience before the festive season hits. The new ad technology tools for UK pinners and advertisers will allow highly contextual ad experiences for the first time on the platform, every pin will now be shoppable!
Pinterest is seeking to commercialise by permitting ads in more locations and providing greater performance insight tools, helping creators and companies get a better look into their audiences.
E-commerce functionality will now enable users to make purchases within a pin from a shopping tab within search results or from within boards. Simplifying the experience for Pinterest users.
A lens camera visual search will also be enabled to allow ads within shoppable pins, UK members will enjoy access to shopping spotlights, a curated lists of goods compiled by publishers and creators.
US verified merchants and Shopify retailers will have access to new and improved ad conversion insights to better gauge the performance of paid and organic results. Allowing them to tailor their content to perform better.
American advertisers will also be able to view their best-performing pins for driving sales, as well as convert organic pins into ads.
Advertisers will also be able to track how audiences behave, from page visits to cart to the purchase itself.
Story pins will also now be available, allowing creators to interact with their audience in a way like never before.
Why does this matter?
Pinterest has 400 million worldwide users, the UK being the largest market outside the US. With the sudden growth, the demand for shopping functionality has increased rapidly, especially since the downfall of highstreet shopping.
Since lockdown began, the platform has hit a record peak for engagement, searches rising by over 60%, and pin saves rising by 40%. In the UK, searches are up 55%, with boards increasing by 52% over the same period.
This increase in use means the platform, now more than ever, is a great way to increase brand exposure and reach for businesses. The latest tools will easily give creators ways to publish more immersive and engaging content for their audiences.
In a Pinterest blog, the platform wrote: “ In a year when more people than ever will be shopping online for the festive season, Pinterest can replicate that experience for consumers and retailers through curated collections and visual discovery. We’re building a place to shop online- not just buy.”
Pinterest believes it can soon be a competitor to Instagram shopping, a storefront on a business’s Instagram pages, allowing them to shop directly from the Social Media. Pinterest will replicate the idea of high street fashion, to an extent. Ideally for Pinterest, becoming more successful than Instagram shopping.
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