Three months after its launch, Buyable Pins on Pinterest are now available to more businesses.
Pinterest announced today that they will be partnering with three more eCommerce platforms – Bigcommerce, Magneto, and IBM Commerce – to sell directly on Pinterest. Pinterest has already launched with thousands of merchants, including Bloomindale’s, Wayfair, DVF, Steven Alan, from its initial launch and integration with two big e-commerce platforms, Shopify and Demandware.
When Buyable Pins first launched, there were 30 million Pins with the “Buy it” button that allows users to make purchases with a few taps within the Pinterest app for iOS devices. Now, that number has jumped to 60 million. While Pinterest isn’t taking a cut of the transactions, it plans to make money by giving merchants the ability to promote Buyable pins.
Pinterest has not revealed very many details about the performance of Buyable pins, but is adamant about its potential for this upcoming holiday retail season.
Michael Yamartino, Pinterest’s head of commerce, mentioned in a blog post that Shopify merchants were seeing a mobile conversion rates two times higher than other Pins. Yamartino added,
“We’re also seeing that Pinners are open to buying products at different price points from their mobile devices. Whether it’s Freyrs sunglasses, a hammock chair or a pair of stylish Neiman Marcus boots, people are checking out with businesses of all sizes.
This supports recent research from Millward Brown, which found that 93% of Pinners use Pinterest to plan purchases and 87% of Pinners have purchased something because of Pinterest. Buyable Pins makes it seamless to go from planning to purchase.”
Pinterest isn’t the one that is investing in ecommerce platform integrations. Last week, Twitter announced integrations with some of the same e-commerce platforms – Shopify, Demandware, and BigCommerce. Facebook is still experimenting with a buy button, also via a Shopify integration, but it has been reported that the social network isn’t ready to make the feature a priority just yet.
However, this does seem like a big priority for Pinterest, which wants to set itself as more than just a social platform, but a planning tool for the future.