Pinterest Rolls Out “Buyable Pins” – Makes A Major E-Commerce Shift!

Jun 3, 2015 | 2,122 views | by Navneet Kaushal
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Pinterest is on the verge of becoming even more commercial. The company has announced that they will be enabling the users in the United States to buy directly from Pinterest’s network with “Buyable Pins.”

This move had been speculated for long for the most product friendly of the social networks. In a report, comScore also quoted that Pinterest has around 70 million monthly active users and they are apparently eager to buy the stuff they see.

“I wish Pinterest was a store” said Pinterest co-founder and CEO Ben Silbermann reading out a tweet from a Pinterest user during the introduction to the new product launched at the company’s headquarters in San Francisco. “Like how great would it be to walk in and buy all those clothes and food and shoes and puppies and boys?'”

“People have been asking for this stuff a lot,” Silberman added, “and while we can’t promise puppies and boys, I’m really excited to announce today Buyable Pins.”

Later this month the new Pin product will start appearing at least on iPhones and iPads. Buyable Pins are actually designed for people to use on the go as 80% of Pinterest activity is carried out on mobile devices. Silbermann said that buying is a one-finger experience intended to help taking the frustration out of trying to make purchases on mobile devices. Support for Android and the web versions of the platform would be launched later this year.

pinterest buyableimage 1 Pinterest Rolls Out “Buyable Pins”   Makes A Major E Commerce Shift!

iOS users will start seeing blue Buyable Pins alongside the normal red pins by the end of this month. Users will be able to pay with Apple Pay and credit cards. Pinterest is working out the payment process with Stripe and Braintree. These companies will store customer payment information, not Pinterest.

Pinterest announced that they will not take a cut from transactions; and Pinterest executives said they have no plans to change that. The idea is for purchases on Pinterest to cost the same as purchases on merchant’s e-commerce sites. Pinterest is hoping that those businesses will purchase Promoted Pins to push those products into people’s home feeds and category and search results. There will be more than 2 million “Buyable Pins” at launch, said Pinterest. The company is working with major retailers such Macy’s, Neiman Marcus and Nordstrom and two e-commerce platforms Demandware and Shopify to get going.

Interested marketers can sign up on this waiting list to be a part of the program. A quicker and suggested way for small and medium businesses is to get access to the product through one of the e-commerce partners. Shopify’s director of product Satish Kanwar said tens of thousands of Shopify merchants should be ready to go using its new Pinterest sales channel. He also said that the on-boarding process is quick enough that new Shopify customers who sign up soon could have Buyable Pins at launch.

Pinterest’s move pushes the company past the e-commerce efforts of Facebook and Twitter. Both the companies had started testing an in-feed buy button last year but are still testing to find the right mix. Social media companies have had a spotty history of commerce attempts, but Pinterest has long been considered the platform that could make it work because of Pinners’ strong purchase intent.

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Navneet Kaushal is the founder and CEO of PageTraffic, an SEO Agency in India with offices in Chicago, Mumbai and London. A leading search strategist, Navneet helps clients maintain an edge in search engines and the online media. Navneet's expertise has established PageTraffic as one of the most awarded and successful search marketing agencies.
1.thumbnail Pinterest Rolls Out “Buyable Pins”   Makes A Major E Commerce Shift!
1.thumbnail Pinterest Rolls Out “Buyable Pins”   Makes A Major E Commerce Shift!