Pinterest has long positioned itself as a source of inspiration that could ultimately lead to online purchases. And over the years it has worked on features to better connect consumers with the products and services they want to buy, such as: B. Shopping Pins, Visual Search, AR Try On, Product Recommendations, and more. Today, the company is introducing another feature that aims to convert users’ saved Pins into purchases: a shopping list.
The new Pinterest shopping list feature saves all of your product pins in one place. So when you’re ready to buy, there’s no need to search your saved Pins and Boards to find the products you’ve been considering. Find the information you need, including an item’s price, reviews, and shipping information, in an even grid so you can compare products and make decisions.
However, the feature isn’t just an organization tool – Pinterest says it also sends out notifications when the price of the items you’ve saved has gone down – which could encourage users to buy.
The shopping list is available on your profile page above your other boards and contains the items you have saved and recently viewed for shopping. When you’re ready to buy, you can click the pin to visit the retailer’s website and complete the transaction – of course, Pinterest will give credit for the referral.
The feature will first roll out in the US and UK and roll out in Australia, Canada, France and Germany later in the year, Pinterest says.
In addition to the shopping list, Pinterest is today also expanding its merchant tools with the introduction of its Verified Merchant Program in Great Britain, Australia, Canada, France and Germany as well as a merchant storefront in the profile function and new product labeling in Australia, Canada, France and Germany. Launched last year, the Verified Merchant program gives retailers the option to sign up for a manual review to see if they meet Pinterest’s requirements for quality customer service. If so, they will receive a blue check mark on their profile as a signal to consumers that they are a trustworthy retailer.
In addition, the company is today launching a special two-week shopping spotlight called “The Goods by Pinterest,” which will give users access to limited edition items from DTC brands such as Brooklinen, Outdoor Voices, Clare Paint, Olive & June and. to be sold Maude. And it runs a “Shop the mood” campaign with curated trends from its annual report “Pinterest Predicts”.
Although Pinterest finds that its users spend an average of twice a month more money than non-users and have an 85% larger shopping cart, the way people want to shop online is changing rapidly.
Historically a kind of image-centric ideas board, Pinterest could lag behind as more consumers – and especially younger shoppers – increasingly rely on video shopping (both recorded and live), including influencer-driven content on platforms like Facebook, Instagram and TikTok. Pinterest has only recently gotten into this space, with the launch of video-first “Idea Pins” last month aimed at creators and a test of livestream creator events at the same time.
The new product launches follow Pinterest’s bottom line in April in both earnings per share and revenue (11 cents versus 7 cents expected and $ 485 million versus $ 474 million expected), but slowing user growth. The company reported 478 million monthly active users versus an expected 480.5 million, which caused the stock to fall 10% after the report was released. The company attributed the decline in user growth and engagement to the relaxation of Covid-19 restrictions as consumers began to spend less time online.
With the new additions, Pinterest wants to better ensure that the users who are on its website are not just idly browsing, but actually checking out.