Pinterest has long positioned itself as a source of inspiration that can ultimately lead to online purchases. And over the years, he’s worked on features to better connect consumers to the products and services they want to buy, like Buy Pins, Visual Search, AR Trial, Product Recommendations, and more. Today, the company is rolling out another feature aimed at turning pins users save into purchases: a shopping list.
The new Pinterest shopping list feature saves all of your product pins in one place. So when you’re ready to buy, you won’t have to search through your saved Pins and Boards to find the products you’re considering. Here you will find the information you need, including the price of an item, reviews and shipping information in a uniform grid so that you can compare products and make decisions.
The feature, however, isn’t just an organizing tool – Pinterest says it will also send out notifications if items you’ve saved have gone down in price – which could encourage users to make the purchase.
The shopping list is available on your profile page above your other boards and will include items you purchased that you saved as well as items you recently viewed. When you’re ready to buy, you can click the pin to visit the retailer’s website to complete the transaction – giving Pinterest credit for the referral, of course.
The feature will launch in the US and UK first, and then roll out in Australia, Canada, France and Germany later this year, Pinterest said.
Along with the shopping list, Pinterest is also now expanding tools for merchants with the launch of its Verified Merchant program in the UK, Australia, Canada, France and Germany, as well as a storefront. merchant on the function of profile and labeling of new products in Australia, Canada and France and Germany. Launched last year, the Verified Merchant Program provides a way for retailers to sign up for a manual review to determine if they meet Pinterest’s qualifications for high-quality customer service experiences. If so, they are given a blue check mark on their profile to signal consumers that they are a trusted retailer.
In addition, the company is today launching a special two-week Shopping Spotlight titled “The Goods by Pinterest”, which gives users access to limited edition items sold by DTC brands including Brooklinen, Outdoor Voices, Clare Paint, Olive & June, and Maude. And it is launching a “Shop the mood” campaign featuring selected trends from its annual “Pinterest Predicts” report.
Although Pinterest notes that its users spend on average twice as much as non-users each month and have an 85% larger cart, the way people want to shop online is changing rapidly.
Historically a sort of image-centric idea board, Pinterest can be left behind as more consumers – and especially younger shoppers – begin to rely more on video shopping (at both recorded and live), including via influencer-focused content on platforms like Facebook, Instagram and TikTok. Pinterest has only grown more recently in this area, with the launch last month of “ideas for ideas” aimed at creators, and a test of creator events broadcast live around the same time.
The new launches follow a surge in Pinterest profits in April on both EPS and revenue (11 cents vs. 7 cents expected and $ 485 million vs. $ 474 million expected), but slowing user growth. The company reported 478 million monthly active users from an expected 480.5 million, which caused the stock to drop 10% after the report was released. The company blamed the decline in user growth and user engagement on the easing of COVID-19 restrictions as consumers started spending less time online.
With the new additions, Pinterest wants to better ensure that users who are on its site aren’t just browsing idly, but actually checking out.