US' Pinterest launches API for shopping & product tagging for Pins

Over 400 million Pinners come to the platform every month to discover new products and shop for brands that inspire them. With the new merchant features, including the Pinterest API for shopping, Pinterest is making it easier for merchants to create engaging shopping experiences for the millions of Pinners on the platform, the company said in a press release.

The vision for the Pinterest API for shopping is to inspire commerce. Pinterest is extending its investments in shopping and measurement features, including catalogue and product metadata management, to enable more efficient, improved data quality for merchant products. The Pinterest API for shopping has led to a 97 per cent accuracy level for price and availability data.

Product tagging on Pins is a shopping feature that allows merchants to make their lifestyle Pins shoppable, and helps Pinners to move easily from inspiration to action. With product tagging, merchants can add products from their catalogue to their scene images. Pinners can easily browse for the exact items that they love from the inspiring imagery that they find

Over the past year, the company has seen promising results from video-like ad formats vs static formats (increased CTR by 158 per cent, lowered CPC by 42 per cent, lowered CPA by 58 per cent) on the platform. Pinterest continues to invest in video with merchants, by enabling video assets in their product catalogue to give Pinners a view of the product from multiple angles when making a purchase decision and driving conversions.

Pinterest continues to create new tools and resources to help merchants create a more inspiring shopfront and showcase products to shoppers when they’re looking to take action. With the new Shop tab on Business profile, merchants can easily display shoppable products to browsing Pinners. This new feature is a high-intent shopping surface, with 30 per cent of Shopify merchants on Pinterest getting their first attributed checkout from their Shop tab. 

This new feature not only enables easier product group management directly on their Shop tab, but also customisable product group cover images and descriptions, as well as an enhanced mobile interface for a seamless Pinner experience. 

“At Pinterest, our goal is to turn inspiration into action, and our vision for shopping is to make it possible to buy anything Pinners are inspired by on the platform. In 2021, the number of Pinners engaging with shopping surfaces on Pinterest grew over 215 per cent, and 89 per cent of weekly Pinners use Pinterest for inspiration in their path to purchase. The new shopping features such as the API for Shopping allows brands and retailers to reach high-intent Pinners during the earliest stage of their shopping journey with the most updated catalogue data,” Jeremy King, SVP of engineering at Pinterest, said.

“Pinterest’s new API has allowed Zazzle to efficiently and effectively promote hand-curated design collections via shopping campaigns. We’re seeing some promising early performance and are excited for the potential this has to continue showcasing our talented independent creator community,” Chris Lentini, chief marketing technology officer, Zazzle, said.

Fibre2Fashion News Desk (GK)