With New Flashy Tools, Pinterest Is All Set To Take Over The E-Commerce Market
Pinterest has added new shopping features to the platform, together with brand profile details and sponsored idea pins.
Pinterest has recently introduced a range of new E-Commerce tools in order to expand its E-Commerce offerings. Thus, providing more ways for merchants and advertisers to establish connections with pinners. The launch marks company’s initiative to grow advertising and online shopping on its platform.
The first tool that Pinterest has introduced is a “slideshow for connection”. This tool is amazing as it picks products from the brand’s catalogs and automatically changes them into “collection advertisements”. As per the company’s view, this feature will aid the advertisers in producing video-like content tailored to user needs. The aim is to stimulate the shoppers to purchase more items at once. The company also notes that shoppers on Pinterest have 85% bigger baskets in contrast to shoppers on other platforms and also spend twice as much per month. Shoppers will be browsing more than one product at a time via this slideshow feature.
Another new feature is “Merchant Details”. This feature will enable the brands to display their values on their profiles. Companies can also showcase personal details about them like Women-owned or LGBTQ+etc. Furthermore, the company is also expanding its Verified Merchant Program that helps users in finding vetted brands. And the brands which have been examined properly according to Pinterest’s criteria will have a “verified badge” on their profile as well as the enhanced distribution.
Other than these tools, Pinterest is also testing a tool called “Idea Ads with paid partnership”. It is a joint venture between the creators and the advertisers. In this feature, the creator generates an idea pin and tags it to the brand partner. The advertiser can in return propagate the Idea Pin as an Idea Ad. According to the company’s blog post, this feature is being tested with chosen brands and creators in 15 countries.
With Christmas just around the corner, it seems like Pinterest wants to attract the maximum number of buyers to do online shopping. Most importantly, its motive is to encourage online buying and selling via its apps. In short, also attracting E-Commerce businesses towards its platform. Pinterest is not the first social media platform to enter the E-Commerce market. As several other social media platforms like Facebook, TikTok, WhatsApp, and Instagram have entered the E-Commerce market with various E-Commerce tools.
Consider this or not, but since the pandemic, the trend of online shopping among people has increased subsequently giving rise to the development of E-Commerce platforms.
The trend of online shopping is not going to abort anytime soon. And this trend is definitely going to increase the number of E-Commerce platforms present around us. As stats suggest that E-Commerce sales are expected to generate $1 trillion in 2022.