Since its inception, Pinterest has grown to become an eCommerce vehicle for companies using the platform the right way, and Pinterest will now make it a lot easier for businesses to convert social media users to actual paying customers.
The social network announced the creation of "Buyable Pins" at an event held at its San Francisco headquarters on June 2 (h/t TechCrunch), with the new feature reportedly rolling out later this month. Users with iPhones and iPads will get the feature first, with no word on when Android and desktop users will see it.
Within a few weeks, Pinners using the Pinterest mobile app will begin to see a blue "Buy It" button next to the usual "Pin It" one that will let them purchase an item from brands like Nordstrom, Neiman Marcus, and Macy's without having to leave their beloved social network. Looking for a certain color or size? Not a problem. From the pin page you'll be able to swipe through the different options so that you get exactly what you want.
Following the trend of ease, Pinterest has partnered with Apple Pay to deliver a seamless transition from shopping to actually purchasing. Pay for your purchase using Apple Pay or a credit card, and don't worry about your credit card information being stolen. Pinterest is on record as saying that they won't be storing anyone's credit info, and that users who pay via Apple Pay will be assigned a device specific account number instead of your credit card number.
In a world where we're all looking to accomplish tasks as quickly as possible, this is it.
What It All Means
Image via Shutterstock
This is a huge breakthrough for Pinterest and eCommerce via social media as a whole. Per Kommerzen, the average order value for eCommerce brands from Pinterest in 2014 was $123.50, with Facebook users coming in at $54.64. Pinterest just shifted from a social media network to more of an eCommerce platform-just imagine how high sales numbers will skyrocket now that users don't have to leave Pinterest to purchase their most-wanted items. It's a win-win for both businesses looking to increase revenue through new channels and for consumers who want an easy buying process.
It also means an increase in mobile usage and mobile purchases, as the buyable pins will only be available on mobile devices, at least initially. Since 80% of Pinterest's traffic comes via a mobile device, it only makes sense to launch the new feature on mobile to see how it does-you go where your users are, and the data shows that mobile is where it's at.
Now, this does bring up an interesting debate: could the introduction of buyable pins perhaps draw more males to the primarily female-focused social network?
We know that Pinterest is roughly 80% female-based, but you have to think that this is an intriguing integration that could bring more men to Pinterest, especially when you consider that 70% of affluent males prefer to do their shopping online. This upgrade to eCommerce is going to bring a lot more traffic and users to the network.
I do a lot of shopping online, and I do have a Pinterest account, but I haven't logged in since the day I signed up. Knowing that in a few weeks I'll be able to buy some of the items that I had pinned, I'm more inclined to try and figure out what my password is and log in to test it out.
Pinterest is transcending the social eCommerce game, and the partnership with Apple Pay is a game changer. If you thought your wife or girlfriend already spent too much time pinning, just wait a couple of weeks.
Thumbnail image via Shutterstock