Many pinners’ dreams have finally come true. Pinterest is rolling out its first live buyable pins on Tuesday, the company said.
Earlier this month, Pinterest officially announced its plans to make buyable pins, a step the bookmarking site had been hinting at for nearly a year. The pins feature bright blue price tags and let users purchase anything from coats to plants or recipe ingredients without leaving the app. Now, buyable pins are available for some products on the iPhone and iPad in the U.S. Pinterest is also launching two new curated sections. One is a “Shop our picks” tab, where Pinterest shows hand-picked products in categories like camping, beach wear or Fourth of July style. A new ”Shop” tab shows the newest buyable pins on the app. Retailers can separately feature collections of all of their pins, Pinterest said.
Pinterest now also has a price filter for buyable pins, which will appear in users’ home feed, category feeds, boards, search results and recommendations. In addition to sorting by price, pinners can sort by color and size, or save a pin to look at later. Clicking the “Buy It” button gives users the choice to pay either with Apple Pay or a credit card. The item then ships to the user’s doorstep for the same price the user would pay on the merchant’s website, Pinterest said. Over the next several weeks, Pinterest predicts that 30 millions pins will become buyable, including pins that users have already saved to boards.
The feature could be a significant revenue driver for Pinterest. Retailers don’t pay for the pins, and Pinterest isn’t currently taking a cut of purchases. However, advertisers pay to promote the pins as native ads that Pinterest places in front of pinners based on its deep knowledge of its users. Demand from pinners for a buy button has been evident in research. Even without a buy button, nearly 90% of pinners have made a purchase because of Pinterest, a recent study by market research firm Millward Brown found. With 70 million monthly active users, according to comScore, the new tool could help make Pinterest a major e-commerce player.
At Pinterest announcement at San Francisco headquarters earlier this month, CEO Ben Silbermann described the new tool as simple and secure. Stripe will be the primary payment partner, and credit card information will never touch Pinterest’s servers, according to the company.
“When customers are on Pinterest and they are being inspired, it’s a new and different way for them to interact and get to know the Macy’s brand,” Serena Potter, group vice president at Macys.com, said about the new feature at Pinterest’s event earlier this month. “It’s a great way for us to find new customers and to introduce existing customers to some of our other products.”
Pinterest said it will email pinners to let them know when they can start making purchases on the iPhone or iPad, and will send alerts when the new pins go live on the web and on Android. Some of the first buyable pins will come from brands such as Macy’s , Neiman Marcus and Nordstrom as well as retailers like Michaels and e-commerce platform company Shopify.
“Buyable pins are just another way to bring the creative ideas you find on Pinterest to life,” Pinterest’s head of commerce, Michael Yamartino, said in a post. “For all you Android and desktop Pinners, we’re working hard to get you buyable Pins in future releases.”