If you are a small or emerging retail business that has been using Pinterest, then there is some exciting news that could help you increase sales: Pinterest now has buyable pins. What this means is that Pinterest is transforming into a kind of virtual shopping center. You will still be able use Pinterest in the manner in which it has been used, but the new service will also place a ‘Buy’ button on select images, allowing people to purchase items through the website, transforming it into a virtual shopping mall.
How It Works For Customers
If you are a potential customer going through Pinterest and come upon something you might want to buy, all you have to do is click ‘Buy’. The first time Pinners buy something, they will have to enter their personal information and payment method. As of right now, methods are limited to Apple Pay or credit card. The Guardian reports that transactions will be handled by Braintree (a subsidiary of PayPal) and Stripe. This means, as WebProNews reported, that none of your information will be stored by Pinterest, but rather with the transactions sites that you already trust. Once your preferred method of payment has been approved, along with your mail address, you will not have to enter it for future purchases.
Aside from the primary feature of being able to buy an item, you can also search specifically for buyable pins. If you have a budget, there is also a price filter, so when you are looking up buyable pins, you can enter your price limit and only items within your price range will appear. If you are a seller, this is important to keep in mind. If you have an item that is just over $100 and you can afford to sell it for $99, it might be best to put that price in instead so that you will fall under the top price that customers enter in the price filter. Buyers using price filters usually enter numbers that are multiples of 10, 25, or a 100, so keep that in mind when posting your prices. People seldom say they are willing to spend $102, even if they are. Instead, the will enter $100, so set your prices accordingly in order to maximize your views.
How It Works For Retailers
When it comes to retailers, there is some good news and some bad news. The bad news is that Pinterest is directly working with a limited number of major retailers, meaning that unless you are the size of Wal-Mart or Target, you won’t be working directly with Pinterest. The good news is that one of the services Pinterest is working with is Shopify. If you are a small retailer and are hoping to take advantage of this news service, you can do so by signing up for Shopify if you haven’t already. Shopify already has a list of instructions and benefits to the service for those who are interested. This way, small retailers can still take advantage of the new service even if they aren’t dealing directly with Pinterest.
How You Can Make It Work For You
If you are a retailer of any kind, this can work for you. Are you selling DVDs or CDs? Post images of movie posters or album covers and attach a buyable pin to it. Are you selling a cook book? Post some recipes with an image of the corresponding meal and add a ‘Buy’ pin. Are you a clothes retailer? Post photos of your clothes, preferable with models. Perhaps you are an artist or do crafts? Post photos of your work. Create ‘Boards’ related to the product you sell, follow people who share an interest in the items you sell, and post regularly. And don’t be afraid to re-post something. If you shared it a month ago, but you still have it in stock, re-pin the item as you might have gotten new followers in the intern, or the followers you have might have missed it the first time you posted it. This will increase your exposure.
With Pinterest, Shopify, Apple Pay or credit cards, and transaction services like Braintree and Stripe all looking to take a share of the sale, it can cut into your profits, but you can also increase sales, which can in turn increase your overall profits, even if you are reducing profits on individual sales. However, you can still sell items on Pinterest without the buyable pin if you have a PayPal account, as outlined by Tech Journal. Still, the buyable pin will put you in direct contact with potential clients and will streamline the buying process for them, making it easier for you to sell your products. Of course, if your website isn’t selling anything but content, Pinterest can still be of use to you so long as you have images. You can still pin those images and add captions related to your content, so the traditional services will not change too much.