The Social Sell: Pinterest Reveals Buyable Pins
San Francisco-based Pinterest, the online social scrapbooking and discovery platform, has unveiled plans to incorporate commerce into its website and apps. Rolling out over the next few weeks in partnership with US retailers such as Nordstrom, Macy’s and Neiman Marcus, “buyable pins” will allow users to purchase from an initial selection of two million products within the social network via a ‘Buy It’ button that will appear within pinned items.
Trading on the customised and edited allure of Pinterest, the new feature encourages users to search and filter products by parameters such as price range, colour and style before completing purchases. Once a customer is ready to buy, payment will be taken via credit card or Apple Pay from within the pinned item listing itself – keeping users within the Pintrest ecosystem.
Notably, Pinterest doesn’t plan to take a cut from the transactions, instead opting to continue monetising the platform by selling promoted pins. The ability to make those pins shoppbale will undoubtedly make them a much more valuable way for retailers and brands to engage with the Pinterest community.
While the company does not disclose its number of users, estimates from American analytics firm ComScore place its US audience at more than 75 million – making the now confirmed evolution from inspiration to sales platform an attractive retail proposition. The news echoes moves made by Twitter to incorporate a ‘buy’ button in 2014, and newly announced plans for photo-sharing app Instagram to begin testing ways to purchase goods in-app (see also Instagram for Retail Brands).