In its effort to become a one-stop-shop online shopping catalogue, Pinterest has announced new features that will allow users to tag products on Pins and a new API (Application Programming Interface) for shopping.
By updating its new API, merchants using the platform can easily access critical marketing data to enhance their exposure on Pinterest, such as product metadata and catalogue management. In fact, according to the company, merchants using this tool have already seen a 97% accuracy for price levels.
The tagging feature, which replicates Instagram’s “Shop” tab, gives merchants the ability to tag specific products on their pins. For instance, an advertising campaign featuring a new pair of shoes can be tagged and link users straight to the merchant’s website.
Pinterest says by implementing this type of feature, users showed a 70% higher shopping intent, giving businesses a better chance to market their products to their target audience.
“At Pinterest, our goal is to turn inspiration into action, and our vision for shopping is to make it possible to buy anything Pinners are inspired by on the platform,” said Jeremy King, senior vice president of Engineering at Pinterest.
“In 2021, the number of Pinners engaging with shopping surfaces on Pinterest grew over 215%, and 89% of weekly Pinners use Pinterest for inspiration in their path to purchase. The new shopping features such as the API for Shopping allows brands and retailers to reach high-intent Pinners during the earliest stage of their shopping journey with the most updated catalog data.”