Pinterest’s new buyable pins are proving to be quite popular although advertising still makes up the majority of the social platform’s income. Pinterest users are shopping on Pinterest and many more continue to discover products via the social network and buyable pins often serve as the shopping baskets or wish lists on other e-commerce sites. One trend that has been picked up by Pinterest is the number of users who save specific items via buyable pins to be able to refer to them later to shop when prices are reduced by temporary or permanent markdowns. The social media giant has responded to the trend just in time for the holidays with their latest feature, price reduction notifications for buyable pins.
Reduced Prices for Buyable Pins
Pinterest users are notified when an item’s price decreases in their saved buyable pins by both a notification within Pinterest’s platform and an email. It’s a wonderful way to remind users of items that have piqued their interest as well as yet another opportunity to be able to close a sale. Users who have shopped on Pinterest or have planned to shop on the platform have their credit cards and addresses saved on file. When price reduction notifications arrive, they are able to then lead directly to checkout from either the email or in-app notification. This new feature is based on the logic that many users do not make purchases immediately upon discovering items and that many times the delay in making a purchase is connected to price. This is a way to close the sale by offering convenience to bring shoppers closer to making final decisions on potential purchases. Wonjun Jeong, a software engineer at Pinterest, explains there are over one million pins on the platform featuring items with reduced prices. Price drop buyable pins also apply to discounts featured in The Pinterest Shop.
Pinterest Promotes Sales for the Holidays
Pinterest has been promoting the art of the good buy in other methods on its site for the holidays by utilizing their Pin Picks account to promote sale items. The account with 301.2k followers features a “Sale” board featuring fashion items on sale for the holiday season from retailers ranging from Macy’s to Tory Burch. Their “Here’s the Deal” board has a broader variety of items available to be shopped online with free shipping from office supplies and high end electronics to jewelry and accessories for home. More Pinterest shopping features are expected to be launched in the near future.
