Pinterest has declared that it is entering the world of ecommerce with the launch of a “Buy” button on its app platform. What this means is that some of its 50 millions Pins (product images) would immediately form part of a huge product catalogue.
According to Chao Wang, Engineering Manager at Pinterest in a recent blog post, “When you spot a Pin with a blue price, you’ll know you can buy it right from the app.”
According to Yoree Koh of WSJ, “Adding buyable pins could be a game changer for the five-year-old company by melding commerce with a key aspect of the Pinterest browsing experience. About 52% of roughly 1,500 active Pinterest users surveyed agreed the site helped them find items they wanted to buy, according to a survey conducted by Pinterest and MillwardBrown earlier this year. In addition, 30% of respondents said they had purchased an item online, while 32% said they had bought an item in a store after viewing Pinterest content.”
Pinterest announced that you’ll find millions of buyable Pins on Pinterest, from great brands like Macy’s, Neiman Marcus and Nordstrom, retailers powered by Demandware like Cole Haan and Michaels, and thousands of Shopify stores like Poler Outdoor Stuff and SOBU.
The Pinterest executives claim that they will not be taking a cut of each transaction.
If you’re living in the U.S., expect to see buyable Pins on your iPhone or iPad in a few weeks. They would be available on Android and desktop later this year.
