Pinterest is launching ‘buyable pins’ that will enable retailers to sell products on the social media platform at no extra charge.
- Pinterest is launching a buy button for its social media platform
- Retailers will be able to install the service for free
- At launch Pinterest is working with retailers on the Demandware and Shopify ecommerce platforms
In the coming weeks, Pinterest users – or ‘Pinners’ – will be able to buy products directly through the application.
Retailers who wish to sell their products via Pinterest can do so for free as the social media platform has said it will not take a cut from retail sales because it wants to encourage transactions on the site. Retailers using the platform will still handle shipping and customer service.
At launch retailers including Macy’s, Neiman Marcus and Nordstrom will provide shoppable pins to the social media platform. Pinterest is also working with retailers using the Demandware ecommerce platform, including Michaels and Cole Haan, as well as independent merchants that sell their wares using Shopify.
Research from Shopify showed Pinterest is the second largest source of traffic for its retail clients, and Pinners spend $50 (£32.50) per order, which is a larger amount than orders coming from Facebook and Twitter.
‘Buyable pins’ will feature a blue price sticker, and users in the US will be able to browse more than two million pins on their iPhone or iPad apps by the end of June. Android and desktop users will be able to shop on Pinterest at a later date.
According to Pinterest the ‘buyable pins’ will work seamlessly on mobile devices and will help retailers capatalise on consumers when they see a pinned product and have an impulse to buy. Pinterest is also working with Apple Pay and other payment companies to ensure credit card information is secure.
According to market research company Millward Brown, 93% of active Pinterest users said they use the platform to plan for purchases, while 87% said they have purchased something because of Pinterest.