Pinterest is angling to make itself the leading social network for e-commerce activity with a slew of new features and advancements for shopping.
As the announcement for the updates explains, Pinterest has seen a surge in the number of merchants listing their products on the platform (up 87% in Q1 of 2022 alone).
Now, the company is hoping to double down on this with a new Pinterest API for Shopping, Product Tagging for Pins, Videos in Shopping Catalogs, and the introduction of a Shop Tab on Business Profiles:
“At Pinterest, our goal is to turn inspiration into action, and our vision for shopping is to make it possible to buy anything Pinners are inspired by on the platform. In 2021, the number of Pinners engaging with shopping surfaces on Pinterest grew over 215%, and 89% of weekly Pinners use Pinterest for inspiration in their path to purchase. The new shopping features such as the API for Shopping allows brands and retailers to reach high-intent Pinners during the earliest stage of their shopping journey with the most updated catalog data.”
Pinterest API for Shopping
Pinterest wants to make it easy to manage your products no matter how large your inventory is. With the new API for Shopping, you can more accurately manage metadata for your products with early tests showing the tool was 97% accurate.
Product Tagging for Pins
Though the social network is leaning more heavily into the world of shopping, the main focus is still on Pins that users and brands share. With Product Tagging, you can make your pins a seamless part of your sales process. Once you have tagged your products in pins, shoppers can easily click on the tags to be immediately taken to a sales page.
Video in Catalog
The typically image-based social network is gradually integrating video. The latest move in this direction is the ability to use video assets in product catalogs to showcase your products in motion.
Shop Tab on Business Profiles
Make your online store a more prominent part of your business profile with a new tab dedicated to your shop. According to early tests, approximately 30% of Shopify merchants said they got their first attributed checkout directly from this high-intent shopping feature.