POV: PINTEREST UPDATES 2019
Pinterest has announced the launch of Catalogs, a new way for brands to showcase products on the platform following a successful beta in 2018.
DETAILS AND IMPLICATIONS:
The Catalog feature allows advertisers to create a product catalog on the native platform as long as they have a claimed domain on Pinterest. With Pinterest Catalogs, advertisers will be able to showcase their products with a Call To Action (CTA) driving users off the site and can generate product Pins in bulk and organise them by product groups, allowing users to discover and purchase new products. The new feature is being rolled out across the platform for all advertisers. Catalogs turn pins into product pins, which are identified with a small price tag icon. Product pins pull up to date pricing and relevant information in real time. When a consumer clicks on the product, they are then taken from the Pinterest page to the checkout section of the retailer’s own website, cutting out a large part of the consumer journey and adding products directly to the basket ready to buy. In addition to the launch of Catalogs, Pinterest also announced a number of updates to the platform: • Pinterest Shopping Ads - Now available to all businesses via Ads Manager, bringing Pinterest’s advertising offering in line with Google and Facebook’s product ad campaigns. • Shop a Brand - A new dedicated section from retailers is starting to roll out beneath Product Pins. You’ll soon be able to dive into a brand’s catalog by clicking “more from [brand]”. • Personalised shopping recommendations - Will now show a stock check (in-stock / out of stock etc) related to what Pinners been saving to their style, home, beauty and DIY boards. Pinners can either save to one of their own boards or can click the Pin to go straight to checkout on the retailer’s site. Commenting on the updates in a blog post, Pinterest said: “People come to Pinterest in a shopping mindset open to discovering products, which creates a great connection between Pinners and businesses…Keep an eye on more updates in the coming months.”
Pinterest is a platform with a high purchase intent, so these updates are designed to give advertisers an accurate indication of purchase intent of a product. With these updates it will be very interesting for advertisers to be able to accurately report back on ROI and see how Pinterest is affecting their business – and hopefully for Pinterest, drive the performance of the platform and generate more investment from advertisers.