Just a few months after announcing buyable pins, Pinterest opened a shop that sells products curated from pins. Shopping on Pinterest is now easier for browsers, since they no longer need to search through all pins to find ones that link to a product page. While brands don’t pay for making pins buyable, they have the option to increase their reach through promoted pins. A page designed for shoppers encourages brands to invest in making their buyable pins more visible, boosting revenue for the $11 billion company.
Macy’s, Neiman Marcus, Nordstrom and Michaels are a few of early adopters of wearable pins. A few brands have also made their own innovative links from Pins to commerce. For example, Pinterest launched the Pinterest Developers Platform in May, and four months later Topshop became the first apparel brand to capitalize on the abundant data available on users’ styles and taste in clothing. Topshop began to encourage users to log in to Topshop with their Pinterest credentials and select Pinboards to be scanned. Topshop then recommends based on the color palettes dominant in their pins. Topshop expanded this feature to beyond personal pins; users can also opt to receive recommendations based on other pinboards. For example, they can choose to see a curated set of products derived from a board documenting New York, Milan, Paris, or London Fashion Week. Followers to Topshop’s Pinterest account increased by 4.3% between September 4 and October 20 as a result, twice the monthly average observed this year. Topshop’s use of Pinterest was featured as a Flash of Genius in L2’s Digital IQ Index: Specialty Retail.
There has been much debate on the utility of Pinterest for brands, which has led to some scaling down on the platform. However, L2 research also shows that an active brand presence will attract a following. And further commerce developments are likely to convert them into shoppers.
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