How Pinterest’s Newest Shopping Features Will Bring You Closer to Your Favorite Brands
The newest features aim to make the platform even more shoppable, closing the gap between inspiration and purchase.
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This week, Pinterest introduced two new shopping features continuing its pursuit to be the leading online shopping network: browsable catalogs alongside Pins, and personalized shopping ideas in its feed.
As a quick recap, in March the platform unveiled Catalogs whereby retailers could upload entire catalogs into shoppable pins. In 2018, Pinterest overhauled buyable pins and replaced them with product pins, delivering new features such as indicating whether or not a product was in stock.
Here’s a look at the newest updates:
When Pinners scroll under a Product Pin and click “More from the brand,” they’ll be directed to a shopping section containing related items from that given brand. An initial click or tap will trigger the display of the latest products and info, and an additional click will direct the user to the retailer’s website to complete their purchase.
As for the platform’s homepage, while Pinterest users are shopping, personalized shopping ideas will appear atop their feeds in the form of a “picked for you” icon. By tapping on the icon, they’ll be directed to a package of products curated based on their interests, prior searches, and brands they’ve previously interacted with on the platform.
This is a huge win for retailers offering another critical opportunity to reach Pinterest users while they’re shopping on the platform. It’s also a bonus for digital shoppers craving that ‘just for me’ experience.
In addition to the updated shopping tools, Pinterest’s announcement also shared results of a study conducted in partnership with Neustar, which looked at digital channel performance for paid search, paid social and display ads for five retail brands in the U.S., tracked to their online and in-store sales. Key findings included:
- 75% of sales that came from Pinterest took place more than one week after people saw ads on its platform.
- Despite the studying finding that Pinterest made up only 11% of total media spend among the five retail brands, it generated 18% of their incremental sales and revenue, making it the platform 2.3x more efficient than other social platforms, 1.5x more efficient than paid search and 1.1x times more efficient than display.
Stats aside, this study can be summarized by two core takeaways: Pinterest is highly efficient in the digital space and it is successful in influencing purchasing decisions early.
“Because people use Pinterest so early in their shopping journey, marketers need to adjust their attribution windows to give people time to make a purchase, before declaring a return on ad spend,” underscored Pinterest’s Gunnard Johnson, Head of Measurement Science and Insights on the company’s Business Blog.
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