Pinterest is transforming itself from its traditional roots as social network for scrapbookers into an e-commerce platform with the introduction of its “Buyable Pins”. In the near future, you will be able to purchase a product directly on Pinterest, by clicking on the Pinterest “Buy It” Button on a pinned product image.
The Pinterest “Buy It” Button
“Buyable Pins” are a simple, yet powerful, new feature on Pinterest, which may have a significant impact on the future of online retail.
A customer can now buy products directly from Pinterest by clicking on a “Buyable Pin”.
Retailers will be able to promote their products to Pinterest’s 80 million users and have customers purchase products directly on Pinterest without being redirected to another site.
It is important to note that the operative word is “directly”. Buyable pins allow the purchase of products without leaving the Pinterest website. The purchasing and fulfillment process involves an API (application-program interface) that allows Pinterest to send transactional data directly to the retailer’s e-commerce back-end. The whole process is designed to be smooth and seamless, completely transparent to the customer.
Customers will be able to search for products that are “buyable” and the functionality of real-time inventory will be available.
For now, iPhone and iPad versions of the Pinterest app will have the new, iconic blue “Buy It” buttons enabled for a selected group of retailers, that include Macy’s, Neiman Marcus and Nordstrom. The Android version of the app is under development and is anticipated to be released soon.
Payments can be made via credit card or Apple Pay with the back-end processing being handled by Braintree and Stripe.
The “Buyable Pins” will show up on all of the Pinterest pin features, including recommendations and search.
3 Ways The Pinterest “Buy It” Button Will Change Your Online Business
1. Additional Point of Sale for Your Company: Your website will no longer be the only place customers can complete a purchase transaction.
2. Targeted Marketing Opportunities: Pinterest, with 80 million plus users, is a new market-specific audience where you can promote your products.
3. New Customer Behavior Data Available: A wealth of customer buying data will be provided by code in the “Buy It” button to retailers.
How can I get “Buyable Pins” on my products?
If your website uses uses Shopify as part of your e-commerce solution, you can log into your Shopify account page, and simply add the Pinterest channel – Buyable Pins will automatically show up on your product images. Pinterest has already integrated the required API with Shopify, so there is no coding required at your end.
Integration with Demandware.com is coming shortly. Discussions are underway with numerous other e-commerce solution providers to implement Buyable pins functionality.
Here is how you can join the waitlist for Buyable pins.
How Much Is Pinterest Going To Charge Me?
According to the Pinterest blog on Buyable Pins, Pinterest will not be taking any transaction fees, nor will it take over the product fulfillment process. Those points are very important! Retailers will receive the customer information and will ship the products directly to the purchaser. Retailers will have complete control over all of the customer touch-points, and have the ability to cross-market, upsell and collect information on the purchaser.
How will this change how I do business?
- By promoting your products on Pinterest, you will gain access to their 80 million (mainly female) users, and be able to segment your products to specific Pinterest boards.
- The APIs that Pinterest has developed will be one-click and mobile-enabled. There will be no exiting to third-party sites for payment or fulfillment.
- The customer experience will be yours – you will know who the end-user is, and you will be able to market to them in the future.