Pinterest has taken the social media world by storm, becoming a platform where users can explore and share their interests with one another. With its easy-to-use interface and visual appeal, Pinterest has amassed an impressive user base of over 450 million people worldwide. And now, with the introduction of Pinterest Shops and Shop Product Pins, the platform is fast becoming a hub for social commerce.
However, while Pinterest Shops offer a convenient way to buy products directly from the platform, they may not be enough to fully harness the potential of Pinterest as a social commerce powerhouse. In this article, we'll take a closer look at Pinterest Shopping and why Edge Storefronts may be the better way to enable shopping on Pinterest.
What are Pinterest shops?
Pinterest Shops are online storefronts that allow businesses to showcase and sell their products directly on Pinterest. These shops are built right into a business's Pinterest profile and can be accessed by clicking on the "Shop" tab.
Pinterest Shops provide a powerful avenue for businesses to tap into the ever-growing trend of social commerce. By setting up a Pinterest Shop, businesses can showcase their products in an immersive and visually captivating manner. Each shop is carefully designed to elevate the shopping experience, allowing users to explore product collections, discover new items, and effortlessly make purchases, all within the familiar Pinterest environment.
With the power of Pinterest's robust search and discovery features, businesses can amplify their reach and expose their products to a wider audience. Users actively use Pinterest to explore and discover new ideas, making it a prime destination for product discovery and inspiration. By leveraging the potential of Pinterest Shops, businesses can effectively position their products in front of millions of users who are already in a shopping mindset.
What are the benefits of using Pinterest shops?
Pinterest Shops offer numerous benefits for brands looking to capitalize on the growing trend of social commerce. With the explosive growth of online shopping on social media platforms, businesses can tap into this lucrative market and maximize their sales potential.
Here are several compelling reasons why brands should consider utilizing Pinterest shopping:
1. Capitalize on the social commerce boom
Social commerce is on the rise, and Pinterest is at the forefront of this trend. In 2020 alone, consumers spent a staggering $560 billion USD directly on social media platforms, and this figure is projected to reach a staggering $2.9 trillion USD by 2026. By leveraging Pinterest's shopping features, brands can position themselves to benefit from this exponential growth.
2. Target a ready-to-shop audience
Pinterest users are highly motivated to shop. A significant 64% of Pinners actively use Pinterest with the intention of making purchases. Unlike other platforms where shopping may be a secondary activity, Pinterest is uniquely positioned as a destination where shopping is the primary focus. This makes it an ideal platform for brands to connect with users who are actively seeking products and inspiration.
3. Drive higher purchase intent and conversion rates
Pinners are not just casual browsers; they are more likely to convert into buyers. In fact, Pinners are seven times more likely to purchase products they discover on Pinterest compared to other platforms. The act of saving items on Pinterest indicates a genuine interest and intent to make a purchase. By leveraging Pinterest's shopping tools, brands can turn this intent into actual sales and drive higher conversion rates.
5. Unlock higher spending potential
Pinterest users have a strong affinity for shopping, and they are willing to spend more. On average, weekly active Pinners spend twice as much as non-Pinners on shopping each month, and their order sizes are 85% larger. This demonstrates the valuable opportunity for brands to tap into a user base that not only shops frequently but also has a higher propensity for larger purchases.
6. Cost-effective advertising options
Pinterest offers a range of shopping tools, many of which are free to use. Brands can showcase their products organically and engage with their audience without incurring additional costs. Additionally, paid shopping ads on Pinterest can deliver exceptional results, with an average 300% increase in conversions. This presents an opportunity for brands to optimize their advertising campaigns and drive even greater sales.
Why do Pinterest shops fall short?
While Pinterest Shops have gained popularity and offer valuable features for businesses, they alone may not be enough to fully capitalize on the potential of Pinterest as a social commerce platform. Here are key reasons why relying solely on Pinterest Shops may limit your success:
1. Limited visibility and discoverability
Pinterest Shops primarily cater to users who are already familiar with your brand or actively searching for products. However, relying solely on your shop within the platform may limit your reach to a smaller audience. Without a comprehensive strategy to increase visibility, your products may go unnoticed by potential customers who are actively exploring Pinterest for inspiration or discovering new brands.
2. Lack of differentiation
While Pinterest Shops provide a way to showcase your products, they offer a standardized format that may not allow for much customization or brand differentiation. With limited control over the visual presentation and layout, your shop may not stand out from competitors or effectively communicate your unique brand story. This can hinder your ability to make a lasting impression on potential customers and differentiate yourself in a crowded marketplace.
3. Incomplete customer journey
Pinterest Shops primarily focus on the transactional aspect of the customer journey, providing a streamlined experience for users to make purchases. However, successful social commerce involves more than just the final sale. It encompasses the entire customer journey, from initial discovery to post-purchase engagement. By relying solely on Pinterest Shops, you may miss out on opportunities to engage with customers at various touchpoints, such as building brand awareness, nurturing relationships, and encouraging repeat purchases.
4. Limited product range and catalog options
While Pinterest Shops allow you to showcase individual products effectively, they may not provide an optimal solution for brands with extensive product catalogs or a diverse range of offerings. Managing and organizing a large inventory within the confines of a shop may become challenging and limit your ability to present a comprehensive product selection to potential customers. This can result in missed opportunities to cross-sell, upsell, and cater to a wider range of customer preferences.
5. Dependency on platform changes
Relying solely on Pinterest Shops means your social commerce strategy is subject to any changes or updates implemented by the platform. Pinterest may modify its algorithms, adjust the visibility of shop listings, or introduce new features that could impact the effectiveness of your shop. By diversifying your social commerce approach beyond Pinterest Shops, you can mitigate the risks associated with relying solely on a single platform and ensure a more robust and adaptable strategy.
How Edge Storefronts are a game changer for Pinterest shopping?
Edge storefronts are a better way to enable Pinterest shopping and can overcome a lot of the limitations. Let's explore the advantages they offer over traditional Pinterest Shops:
1. Streamlined Setup for Every Brand
Edge storefronts, similar to their counterparts on Facebook Shop, provide a hassle-free setup process for brands of all sizes.
Unlike the complexities and compliance requirements associated with Pinterest Shops, edge storefronts can be seamlessly integrated with your online store CMS and connected to various social commerce platforms, including Pinterest. This streamlined setup empowers brands to quickly establish their presence and start selling without the hassle of navigating through multiple support channels or compliance issues.
2. Enhanced Product Information
With edge storefronts, you have the flexibility to provide comprehensive product information to your customers. Unlike the limitations imposed by Pinterest Shops' standardized layout, which may restrict the amount of information you can showcase, an edge storefront enables you to display detailed product descriptions, materials, ingredients, maintenance instructions, pricing, variants, and even related products. This immersive experience replicates the richness of an eCommerce website, allowing customers to make informed purchase decisions without any restrictions.
3. Seamless Integration of Shopping Experience
Edge storefronts excel at seamlessly integrating the shopping experience with your Pinterest content. Instead of redirecting customers to external websites, edge storefronts bring the shopping functionality directly to Pinterest. This means you can transform any Pinterest post, whether it's an image or a video, into a fully shoppable post.
By leveraging the capabilities of edge storefronts, you can pull your Pinterest content onto a branded site page, providing a contextual landing that allows users to browse and purchase the products they see within the Pinterest platform.
4. Personalization based on Social Content
Edge storefronts leverage the power of machine learning and artificial intelligence to understand the key elements of your Pinterest content.
As users engage with your content and explore further, an edge storefront intelligently displays relevant products, collections, and recommendations, ensuring that customers' diverse interests and intentions are captured and catered to within a single landing page. This personalized experience enhances engagement, increases the likelihood of conversion, and helps customers discover new products aligned with their preferences.
5. Branded Shopping Experiences
While social media platforms like Pinterest serve as discovery channels for new brands and products, studies have revealed that the majority of online shoppers prefer making their purchases directly on branded websites.
Edge storefronts bridge this gap by bringing the branded shopping experience to Pinterest, eliminating the need for users to navigate to external websites. With a branded URL and a secure shopping environment, customers can confidently make purchases without leaving the Pinterest platform, enhancing trust and transactional security.
Edge Storefronts: The Next Step in Social Commerce with Pinterest Shopping
In the ever-evolving world of social commerce, Pinterest has emerged as a powerful platform that captivates users with its visual discovery and inspiration.
While Pinterest Shops and shop product pins have opened up new possibilities for brands, it's essential to recognize that they are not enough to fully harness the potential of Pinterest shopping. That's where edge storefronts come into play.
Edge storefronts offer a significant leap forward in enabling Pinterest shopping, providing brands with a range of advantages over traditional Pinterest Shops. With a seamless setup process, comprehensive product information, and the ability to turn Pinterest content into shoppable moments, edge storefronts empower brands to create immersive shopping experiences that engage customers and drive conversions.
Are you ready to embark on this transformative journey in Pinterest shopping? Discover the possibilities that edge storefronts offer by exploring our cutting-edge technology.
Book a demo of SimplicityDX today and witness firsthand how edge storefronts can revolutionize your Pinterest shopping experience, driving engagement, conversions, and, ultimately, your business success.