Here’s the Skinny on Pinterest’s New Buyable Pins

buyable pinsIf you’re a Pinterest fan, you’re going to be thrilled, and disappointed, with the newest development in from their visually stunning platform…. Buyable Pins.  Has the idea of using Pinterest for direct product purchase crossed your mind before?  If it has, your dream has come true, with certain restrictions. The social pinning site has finally come out with its buy button but the audience and application may be a bit too limited to satisfy most online business owners.

Recently, Pinterest announced the release of its buyable pins at an event held at the company’s headquarters in San Francisco. The launch of this new Pinterest feature allows buyers to purchase things without leaving the social network or its app. From the day the visual social network appeared on the scene, it’s been witnessing consistent growth. Millions of people use Pinterest already and it’s now on its way to becoming a shopping hub with its new buyable pins.

How It Works

Retail pins that contain adequate information will get a new button– the ‘Buy it’ button. This new tool will help people purchase a product of their choice directly from Pinterest. They’ll be able to browse selections and check out the prices of specific products. All that shoppers need to do to purchase a product is tap the buy button on that particular product. Once the order has been placed, the product will be delivered to their doorsteps.

The best part about these buyable pins is that neither shoppers or merchants will be charged extra fees for dealing through Pinterest. Merchants won’t need to pay a percentage to display their products, now will shoppers incure extra charges for using the convenient service.

Buyable Payments Getways

Pinterest doesn’t want to store people’s credit card information so it’s entered into partnerships with companies like Stripe, Braintree and Apple. While purchasing products from the social network, shoppers can use a credit card or Apple Pay. This ensures a completely secure payment for anyone who chooses to shop Pinterest.

It’s still not clear how Pinterest will cash in on these new buyable pins but we’re sure they have a plan in motion. For now, the social network seems to be focusing on building a good relationship with retailers first.

Why Shopping Directly from Pinterest is Powerful

According to a survey conducted by Millward Brown, %96 of active pinners have used Pinterest for product research in the last six months, 93%  admit that they use Pinterest to plan their purchases and 87% say that they bought stuff because of Pinterest. Billions of pins have already been added to the visual social platform. And this number is continuously growing. One thing is sure, Pinterest has turned into a destination that entices people to buy, Buy, BUY!

The rise of mobile device usage adds to the power of the Pinterest Buy Buttons.  Many people browse Pinterest for entertainment so now will be tempted by shopping when they hadn’t even meant to browse. It’s interesting to note that almost 80% users access Pinterest via a mobile device. So, the option to buy items without leaving the Pinterest app will be an effective convenience.

Pinterest-Retailer Partnerships

In order to provide buyers with a wide range of products, Pinterest is also partnering with several national and international brands. You’ll soon start to see millions of products from retailers like Neiman Marcus, Michael’s craft store, Nordstrom and Macy’s, in addition to products from innumerable regional brands and merchants.

What to Do

Now the disappointing facts.  Right now, the new buyable pins integration is available for only two e-commerce platforms – Shopify and Demandware. If your online store is built with Shopify, you can log in to your account, add the Pinterest channel and enable the new feature in a few clicks. Those who use Demandware are advised to get in touch with their Demandware customer success manager.   We understand that Shopify has been funded and is throwing around crazy marketing dollars to cash in on the Pinterest Buy Button but we’re definitely looking forward to the day when there is more opportunity for all e-commerce solutions, even the smaller and niche shopping cart solutions.

To receive updates on future buyable pins integration, get on this list!

Are you looking forward to Pinterest’s new buyable pins?  We’d love to hear your thoughts in the comments below!

 

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