Pinterest Is Expanding Shopping Ads to More Retailers
The company is extending the ad opportunity, first introduced in Feb. 2017 to a select group of major retailers, to “hundreds” of businesses.
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Pinterest has announced that it is expanding its Shopping Ads, originally launched last February, to “hundreds of businesses.” Original test partners included Ulta, Venus, Overstock, Lowe’s, eBay, Wayfair, and IKEA Canada.
Shopping Ads are an automated product that allow retailers to upload product catalogs directly to the Pinterest platform. Key product details are then scrubbed and incorporated in ad units that appear alongside consumer search results.
The ads are designed to show products in context, providing inspiration while also enabling Pinners to click through and purchase the product from within the Pin. You can think of it as the digital version of walking into a brick and mortar shop and having a display set up designed to guide visitors towards purchases.
Pinterest pointed to successful beta results in their efforts to woo more retailers. Per the company, for example, IKEA Canada was able to scale its advertising through a lower overall cost per order by 25 percent. Lowe’s saw a 76 percent higher return on ad spend compared to its initial goal.
As additional motivation to moving forward with the expansion, the company reports that 90 percent of Pinners claim they make purchase decisions within the platform and 70 percent said they use Pinterest to find new products.
In addition to opening up Shopping Ads to more retailers, Pinterest is also announcing that it’s expanding Shop the Look to France, Germany, Japan and the U.K. Shop the Look works by integrating product tags within home decor and fashion Pins allowing Pinners to buy directly from the image itself.
Per the Pinterest blog, those interested in Shopping Ads can qualify by filling out this form. In addition, you must have an already existing product feed. Shopping Ads can be set up through Pinterest itself, or 4C or Kenshoo, two of its marketing partners.
Join us at SMWNYC (April 24-27) to further explore the future of Pinterest and the state of e-commerce. Grab your pass today before we sell out!
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