Also in the works is a new Pinterest Shop. This shop will be open to iOS and Android users and it is basically a collection of items that are for sale and are curated by the folks at Pinterest that might be worth checking out. The new shopping section includes brands users know and trust, such as Bloomingdale’s and Nordstrom, along with smaller shops you might not find anywhere else, such as The Citizenry. “We think that we have a different perspective because e-commerce naturally fits with our platform”. It’s part of a transition from a hugely popular photo-sharing and artistic ideas site, especially for women, to a retail business. In the past six years, these kinds of sales have increased by almost 58 percent. Recently, they introduced a new feature for iOS devices which allowed users to buy stuff right from the app, and now that same feature has come to Android devices as well. That is, as long as it’s marked as a buyable item.
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The idea is that Pinterest, among other things, has many crafts and recipes, and you might want to try one of them yourself. It also notes that it has 60 million buyable pins on its platform, more than double the 30 million it had in June when it first let consumers buy on Pinterest. The Pinterest Shop brings all the “trend collections” and buyable pins together – in somewhat of an online catalog, with all of your favorite things from your favorite retailers – to make shopping simpler. Once a shopper finds a buyable pin she likes, she can scroll through multiple images, select size and color, click Buy It and pay with a credit card directly within the Pinterest app.
Pinterest is valued at over $11 billion and has been trying to boost user enjoyment, advertising, and revenue.
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Valued at $11 billion, Pinterest has been seeking to increase its advertising revenue. With Buyable Pins, third-party retailers are not charged any extra fees – instead, advertisers will be charged to promote the pins.
