Market Overview

Pinteresting? Now You Can Buy A Pin This Holiday Season

Pinteresting? Now You Can Buy A Pin This Holiday Season

  • Pinterest announced "Pinterest Shop," a catalogue of products users can instantly buy through buyable pins.
  • Users can now buy millions of hand-picked products and finalize a transaction without leaving the platform.
  • Pinterest remains a private company, but was valued at $11 billion in March.
  • Pinterest, the popular image-collecting social media platform, just entered the e-commerce space and launched a mobile-app store called The Pinterest Shop.

    The Pinterest Shop is a catalogue of hand-curated products users can buy instantly on the platform without leaving the app. Buyable pins were launched on iPhone and iPad devices earlier this summer and expanded to Android devices on Tuesday.

    Pinterest's Potential

    Pinterest remains a private company and was valued at $11 billion in March after the company secured $367 million in venture funding.

    Related Link: Pinterest To Compete With Social Media Moguls Using New Buy Button

    According to TechNews Today, Pinterest has more than 60 million shopping pins for its 100 million users to buy. Pinterest should now see an increase in time spent on the platform, as users can now use the platform to shop based on cost, quality and other criteria to find a specific item they are looking for.

    The publication suggested that the buyable pins were launched in time for the "holiday frenzy" and will create "massive success," especially among marketers that provide advertising revenue.

    Peers In The Space

    Twitter Inc (NYSE: TWTR) introduced a similar initiative with its Buy Now feature, linking its users with e-commerce sites of all sizes. Facebook Inc (NASDAQ: FB) has been testing buy buttons in ads on the newsfeed for over year and recently started testing shops with buy buttons inside Facebook Pages.

    TechNews Today added that buy buttons in mobile apps may be "the next big thing after videos." The feature was one of the most requested among Pinterest users.

    Image Credit: Public Domain

    Posted-In: ecommerce Facebook Buy Buttons pinterest Pinterest Shop Twitter Buy NowNews Tech Best of Benzinga


    Related Articles (FB + TWTR)

    View Comments and Join the Discussion!