One way for social networking sites to generate revenue is by adding online shopping features, and Pinterest is no exception to the rule. This week, it announced it was launching the Verified Merchant Program in the UK, Australia, Canada, France and Germany, as well as of shop tab on profile, and product tagging in Australia, Canada, France and Germany.
And where there is shopping, there is opportunity to generate ad revenue – the company noted in Monday’s announcement, “Shopping on Pinterest is bigger and better than ever for advertisers, too.”
Pinterest also launched a new feature called Shopping Lists that allows visitors to save “product Pins” in one place so they can return when they are ready to purchase. Pinterest will also send notifications to would-be shoppers when a saved product drops in price.
Pinterest recapped its shopping features in the announcement:
Shopping List (New): This new shopping feature will allow Pinners to easily access all the product Pins that they have saved on Pinterest in one place and find key information such as price, reviews and shipping in an even grid to compare products and make purchase decisions. Pinners will also be informed of any price update on these products thanks to price drop notifications. (Only available in the US & UK, coming soon to Australia, Canada, France and Germany).
Shop from search: When users come to Pinterest to search for ideas like “summer outfits”, they’ll find a shop tab with 100% shoppable results. Users can also shop by price and brand to find the right products for their style and price point.
Shop with Lens: Shopping with Lens connects real-world, offline inspiration to online ideas that can be shopped on Pinterest, powered by visual search. When Pinners see something that inspires them out in the real world, they can take a picture using the Pinterest camera and run a visual search for similar in-stock home decor and fashion products.
Shop from Pins: We know that users are often inspired by the images they see on Pinterest and want to know how they can buy the items shown in the Pins. Now, when Pinners tap on a Pin they’re interested in, we’ll show products and shoppable categories that are featured in the image. Through visual search technology, Pinners can shop the aesthetic of the Pins that inspire them.
Product Pins: When users discover products they love, we’ll show additional details like price, shipping, and reviews directly from the retailer so they can learn more and decide whether they want to buy.
Shopping Spotlights: Shopping spotlights introduce expert-selected, trending content to inspire Pinners to shop and discover new brands. With the feel of a personal stylist and the look of an editorial magazine, shopping the latest trends has never been easier. We’re kicking the experience off with product picks based on Pinterest trends from publishers including Marie Claire in Australia and in France and InStyle in Germany.
Shop from Boards: Pinners can see a dedicated Shop section on their boards, featuring in-stock product ideas from and inspired by their saved content.
Dan Lurie, Global Head of Shopping Products, said people have always come to Pinterest to shop and discover new ideas, and said Pinterest wants to help users find products just right for them and feel confident that they’ve made a solid choice from reputable merchants with a seamless shopping experience.
The full announcement is on the Pinterest website.