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If you haven’t heard by now, Pinterest is introducing “Buy It” pins for ecommerce. It’s an exciting idea, but they’re very limited in both availability and platform. Here’s what you need to know.
Who’s Using Them, and How
The Buyable Pins are only available to a few select brands right now; Macy’s, Neiman Marcus, and Nordstrom are among the most notable brands who will be early adopters. The Pins function with only two commerce platforms: Shopify and Demandware.
Stripe and Braintree are the payment processors, and Apple Pay is the primary payment method at launch. Pinterest currently does not want to accept credit cards directly.
Device, creation, and cost
Ad placement is sadly limited to mobile placement — more specifically, iOS. It’s a bit weird that they’d launch the pins to show on one specific device, but c’est la vie.
The new feature essentially functions as an extension of rich pins (where Pinterest pulls in product data specs), so creation should be easy.
Pinterest is actually not charging merchants OR customers a fee when they purchase through a Buyable Pin. So how do the Pins make Pinterest money? Through partners (retailers and advertisers). Pinterest promoted pins are all based on CPC.
Now that (some) partners have the ability to add a ‘Buy It’ button to their Pins, in theory it makes the ad platform even more enticing. This is purely a move to get more advertisers on the platform. What remains to be seen is if it works.
Are you excited about the “Buy It” button? Let us know in the comments.
P.S. Hat tip to Social Account Manager Deepika Patel for some of the insights included in this post!