Pinterest is now taking e-commerce head on with its newest feature. Recently announced, the social networking site will be sending alerts to users when an item they have pinned goes on sale. As an avid Pinterest user myself, I have found myself coveting items out of my price range on several occasions. With the new alert system, items once thought to be unreachable can be within reach thanks to a simple price drop notification.
Pinterest introduced “Rich Pins” back in May, reports ClickZ. These pins allow users to post more detailed information about a pin such as its cost or the ingredients to a recipe. Pinterest’s Annie Ta told ABC News that since the introduction of “Rich Pins” tens of millions of products have been added to the site. The implementation of “Rich Pins” has also led to a higher click-through rate for product pins compared to regular ones. Users are able to repin these pins to their boards along with all of information, however there was no way to tell if the item had a price reduction or even went out of stock. Annie Ta explained, ”Many of the pins already have price information. Now we are able to send notifications about the price dropping. We think it will be really helpful for the pinners and great for the websites selling the products.” Pinterest has also made sure not to spam users with notification emails. Users will only receive a few emails each day updating them on any price changes.
Industry analyst at Altimeter Group Susan Etlinger stated, ”What they are doing by adding these features is removing the friction between the pinning and the sale. In the past they have had a hard time making the distinction that people were pinning and then buying.” Social Media Today reported on the importance of reaching pre-market customers. These customers have yet to really begin the shopping process and are just browsing, but do have a certain brand in mind. While Pinterest doesn’t always bring a brand to mind for me, the images of items I like stick in my brain. Many people use Pinterest for home decor ideas in the initial planning stages. Much like targeting those who are thinking of a certain brand, the Pinterest price drop alerts connect those previous home decor ideas to a potential purchase.
Pinterest’s new alert system is gradually being rolled out to all users, hitting inboxes of customers everywhere still in the pre-market phase of decision making. Pinterest has created a way for brands to influence consumers and drive purchases. The social networking site has yet to implement a monetized system for brands to influence the alerts, but it is beginning to play with the social media big boys in e-commerce.
