Every month, more than 400 million Pinners visit Pinterest to discover and buy new products from brands that inspire them. For an even more immersive shopping experience, the platform has announced innovative new merchant features. Discover these four updates related to Pinterest API for shopping, product recognition for pins, video in catalogue, shop tab on company page, e-commerce…
Since the beginning of the year, Pinterest has set a goal to improve the online shopping experience on its platform. It has already taken some first steps, such as getting an artificial intelligence (AI)-powered shopping service called “The Yes” in fashion.
According to Jeremy King, SVP of Engineering at Pinterest:
“At Pinterest, we aim to turn inspiration into action, and our approach to shopping is to make it possible for Pinners to buy anything on the platform. In 2021, the number of Pinners interacting with the shopping surface on Pinterest will increase to 215. % increased, and 89% of weekly Pinners use Pinterest as inspiration in their shopping journey. »
With this in mind, Pinterest has launched 4 new shopping features, starting with the API for Shopping, so that brands and retailers can get up-to-date with the most up-to-date catalog data during the first phase of their shopping journey. reach high-will pinners.
With the new API for Shopping, brands will have access to new catalog and product metadata management features so that merchants can access more efficient data quality for products. The tool provides 97% level of accuracy for price and availability data as per a recent survey.
With this new feature, Pinterest makes it possible to tag products in a pin to add a description of each item.
This can make it easier to showcase specific items and guide users through their shopping journey. Pinterest reports that, in preliminary testing, Pinners showed 70% more purchase intent on tagged product pins than on standalone product pins.
Over the past year, Pinterest has seen promising results on ad formats like video compared to static formats:
- 158% increase in CTR on the platform;
- 42% reduction in CPC;
- 58% reduction in CPA.
That’s why Pinterest has decided to continue to invest in video with brands, giving access to a broader view of the product from different angles when making purchase decisions and driving conversions.
A shop tab for business pages
Finally, Pinterest is launching the Shop tab on merchandise pages so that brands can easily showcase merchandise products. This new feature not only makes it easy to manage groups of products directly on this new tab, but also offers customizable product details and an optimized mobile interface like a 100% responsive website.
Despite being a few years behind Instagram, e-merchants and advertisers on Pinterest are now reaching out to new ways to better reach and interact with their goals.
What do you think about these features? Will they really be useful to you?