Pinterest Button for eCommerce: Which Industries will this impact?
Last week, social media network Pinterest announced their plan to introduce Buyable Pins, enabling users to purchase items directly both online and using the app. But what does this mean for ecommerce?
Here are five industries that are likely to be impacted by the new feature:
Pinterest is already filled with images of slick and beautiful new gadgets. For example, one of the most talked-about releases of the year, the Apple Watch, already has multiple Pinterest boards dedicated to the product, some with nearly 2,000 followers. By adding a quick option to buy, users will have a new opportunity to snap up trending products – before the next one comes along.
While the buying process tends to be longer for more expensive products such as furniture, Pinterest could potentially shorten this process by promoting impulse buying. The opportunities to present products creatively are also far greater than on companies’ own websites, further encouraging buying.
Already popular with both food bloggers and industry giants such as Waitrose and M&S, Pinterest could prove to be the new way to buy food products. The logistics of how they will deliver fresh food to customers is yet to be discussed, unless they will be limited to dry goods only, such as on Amazon and Etsy. With online grocery shopping in the UK generating £8.9bn in the last year, Pinterest could help the sector gain more of the market share.
The catalogue-like nature of Pinterest naturally lends itself to fashion, and spending will be easily encouraged by both fashion bloggers and retailers. Again, impulse spending will undoubtedly make up many of these sales, with huge potential for online retailers such as ASOS to target their user base for nearly half a million Pinterest followers.
With endless Pins already dedicated to wedding up-dos and achieving that perfect smoky eye, it seemed only natural that Pinterest would eventually offer an opportunity for beauty retailers to sell their products via the site. While sales of beauty products in the UK are still dominated by the high street, online sales increased by 35% in 2013, and show no sign of slowing down with the growing exposure of websites such as BeautyBay and Smashbox. Combined with the new ability to buy products worn by your favourite beauty blogger without even leaving the app, the high street may be in danger.
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