Pinterest expand opportunities for retailers on platform

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By Published On: October 21, 20220 Comments

Inspiration platform Pinterest has announced an expansion of its integrated Trends Tool in addition to the introduction of a new API for Conversions on the platform, as it further doubles down on the unique potentials it offers to advertisers and businesses marketing on the platform.

With 64 percent of Pinterest users already identifying the platform as their preferred destination for discovering an idea, product or service that they can trust, the diverse audience to be found on the platform already offers tantalising opportunities for retailers, with their options for tapping into these opportunities now expanded even further.

“The intent of why people come to Pinterest is one of our biggest differentiators and why the platform is a valuable place for brands and retailers. Pinterest is the only platform where users specifically come to find something to buy or do,” Carin Lee-Skelton, Sales Manager for Pinterest Australia, explained to Power Retail in September, “We’re different because we are the bridge that takes people from discovery to action in all the moments and the interests that people plan for in their lives.”

Bill Watkins, Pinterest’s Chief Revenue Officer, agrees.

“Pinterest is uniquely positioned at the intersection of discovery and commerce, where inspiration meets intent,” Watkins says, “We are investing across our advertising platform to help businesses around the world reach their goals and connect with leaned in consumers at every stage of the campaign lifecycle.”

Utilising the now-expanded Trends Tool on the platform, retailers and advertisers can effectively map behavioural and preference changes on Pinterest in order to better identify opportunities to take advantage of trend changes, as the new API for conversions further offers brands and businesses a chance to track their marketing strategies via the platform.

The launch of the Pinterest API for conversions follows that of the successful launch of its API for shopping in July, which offered initial expanded opportunities for retailers to convert interest on the platform into product sales, with the updates to Pinterest’s offerings to advertisers and retailers creating a full suite of options through which they can get the most out of Pinterest’s uniquely engaged audience.

“What’s truly unique about Pinterest is the mindset of its audience,” said Lee-Skelton in September, “You could also say that people on Pinterest are super shoppers – they outspend people on peer platforms by 2 times every month. They’re also super gifters with 9 out of 10 people on Pinterest using the platform for gift-giving ideas. And because they’re open to discovering new products and ready to spend, shoppers on Pinterest have 85 percent bigger baskets vs. shoppers on other platforms.”

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