Get your wallets ready - your favorite DIY-crafting site is reinventing itself and bringing your dream wedding board and perfect summer picnic scene one step closer to reality.
Pinterest just introduced Buyable Pins, which allow pinners to directly purchase products they adore. Powered by the payment service Stripe, the ‘Buy It’ button will cost the same as buying straight from the company’s site. While Pinterest isn’t currently taking a cut of the revenue made on the site, retailers are paying for advertising space in order to get their pins promoted and purchasable.
Pinterest will also start introducing a “Shop Our Picks” tab to make it even easier to find trending pins you might want to buy. This is in addition to Pinterest’s recent roll out of Cinematic Pins, which are like stop-motion GIF advertisements that have already been used by L’Oreal, Visa and Wendy’s to get their content in front of more engaged pinners.
Between Buyable Pins, Cinematic Ad Pins and Cost-Per-Action Pins (where companies only pay for users who actually click on a Promoted Pin), Pinterest is quickly becoming an advertisers dream. Which is good, since a study conducted by the market research firm Millward Brown found that 90% of pinners have made a purchase based on something they originally saw on the site.
As shopping becomes more and more of a mobile endeavor, Pinterest is setting itself up to be a major player in the world of e-commerce.