Mobile Commerce

Pinterest Pins Go Big Time

Pinterest’s Pins just got another push into the eCommerce world.

Back in June, Pinterest rolled out its Buyable Pins option and yesterday (Oct. 5), the company announced it is introducing those Pins to some major commerce platforms in order to expand its merchant reach. Those eCommerce companies include Bigcommerce, IBM Commerce and Magento, which will help enable Pinterest’s Buyable Pins to reach out to thousands of new merchants.

Beyond those companies, Pinterest said it was providing Buyable Pins to merchants like Bloomingdale’s, Wayfair, DVF, Steven Alan, which is on top of the thousands of merchants from its Demandware and Shopify partners. That means, according to Pinterest, that the company has doubled the number of Buyable Pins in just three months.

In total, there are 60 million Buyable Pins on Pinterest now — which has delivered some big results.

“Even in these early days, we’re seeing strong results from Buyable Pins. A study of Buyable Pins from Shopify merchants showed 2x higher conversion rates compared to other Pins on mobile. That’s promising to us (and hopefully to you!) because we wanted to build something that would make mobile shopping frictionless,” Michael Yamartino, Product Manager at Pinterest, wrote in a blog post. “We’re also seeing that Pinners are open to buying products at different price points from their mobile devices.”

Citing research from Millward Brown, Yamartino wrote that “93 percent of Pinners use Pinterest to plan purchases and 87 percent of Pinners have purchased something because of Pinterest.”

“Pinterest is turning into the go-to destination for today’s progressive shopper who expects instant gratification with exceptional experiences,” said Deepak Advani, general manager of IBM Commerce. “Our collaboration will let retailers deliver a complete commerce experience by presenting Buyable Pins to shoppers right at that moment of inspiration.”

To check out what else is HOT in the world of payments, click here.

 

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Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. Check out the February 2019 PYMNTS Financial Invisibles Report

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