Pinterest is rolling out new features for advertisers and brands to promote their products to users on its site. The launch marks the company’s latest initiative to expand online shopping and advertising on its platform.
A new “slide show for collections” feature extracts products from brands’ catalogs and automatically turns them into a “collections announcement”. Pinterest notes that this new feature will help advertisers easily produce video-like content suitable for individual users. The goal is to encourage shoppers to buy more items at a time, as the company notes that shoppers on Pinterest have 85% larger baskets than shoppers on other platforms and spend twice as much per month. . Since shoppers are browsing multiple products at a time through the slideshow feature, they are more likely to purchase additional items.
Pinterest is launching another new feature called “merchant details” to allow brands to showcase their values on their profile. Brands can exhibit values such as “sourcing responsibly” and “inclusive”. In addition, businesses can also highlight the communities they are a part of, such as “female-owned” and “black-owned”.
The company is also expanding its Verified Merchant Program, which helps users find trusted brands, in Austria, Brazil, Italy, Mexico, Netherlands, Spain and Switzerland. Brands that have been checked benefit from improved distribution and a “verified” badge on their profiles.
Pinterest is also testing a new feature “Paid Partnership Idea Ads” which is a joint partnership between creators and advertisers. As part of the feature, the creator creates an idea pin and identifies a brand partner. The advertiser can then promote the Idea Pin as an Idea Announcement. The company notes that this type of partnership helps businesses and creators reach more users on the platform. Idea Ads are currently being tested with selected designers and brands in 15 countries.
“People who use Pinterest every week are 7 times more likely to say it’s the most influential platform in their shopping journey, compared to social media platforms. That’s why, starting today, we’re dramatically expanding our range of buying solutions for advertisers, ”the company said in a blog post.
These novelties are not surprising, because Pinterest has long positioned itself as a source of inspiration that can ultimately lead to online purchases. Earlier this year, the company rolled out a new “Shopping List” feature aimed at turning Pins saved by users into purchases.
It’s worth noting that Pinterest is among several other competing platforms in the ecommerce market with a push towards online shopping, as Facebook, TikTok, and Snap have all launched shopping features in the past few months.