This week, Pinterest announced that it’s ramping up its focus on commerce with a number of new features in a new update called “Shopping with Pinterest”. Some announced changes include:
- the ability to shop for items across multiple websites and brick-and-mortar stores
- buyable “pins,” which allows you to buy items directly with a connection to your browser
- a shopping bag that can track your interests and browsing behavior across platforms
- an object-detection software system that allows you to take a photo of an object, upload it to the system for analyzation, and find and buy the item through Pinterest.
- branded pages will give brands a location that Pinterest users can shop from directly on the social platform.
Check out this vine from Mashable’s Samantha Murphy highlighting how the software works below.
These new features have a goal of making the funnel shorter than ever — possible even reaching consumers right when they first see a specific product.
According to TechCrunch, “There’s a critically short window of time that any retailer has a chance to capture, and that’s something that brick and mortar stores excel at. By adding a tool like its camera search technology, that helps the company tap into that moment, but with an online shopping experience.”
Until now, Pinterest was using “buyable pins” as their point of commerce integrated within the app, but these changes could make them into an e-commerce giant, competing with Amazon and Google.
These announced changes put the company on a path that retailers and marketers have long awaited. Pinterest has always had the potential, but they are finally making moves to move beyond just a social media platform and into being the powerhouse at the intersection of social and e-commerce.
Pinterest is looking to upgrade the role it plays in online shopping and position itself as a major player in the game — and brands and retailers can be the ones that benefit.
Learn more about Retail and CPG at MMS Chicago 2016 on 7/26.
Agata Monica is Managing Editor of Modern Marketing Xchange.