News that the startup was planning such a move first surfaced in February. On Tuesday all was revealed. The new button, which is coming to the iPhone and iPad “in a few weeks” (Android users, it’s on its way), will make it easy for users of the image-heavy social media site to buy selected items from a wide variety of sellers.
“You’ll find millions of buyable Pins on Pinterest, from great brands like Macy’s, Neiman Marcus, and Nordstrom, plus retailers powered by Demandware like Cole Haan and Michaels, and thousands of Shopify stores like Poler Outdoor Stuff and SOBU,” Pinterest’s Chao Wang wrote in a post on the company’s blog.
Items available for purchase via the app will be identified by a blue “Buy it” button positioned alongside the more familiar red “Pin it” button. Users will have the option to search products at specific prices by way of a sliding price filter, while a color filter will also help to narrow the choice.
Once you’ve selected an item, while you can pay using a credit card, Pinterest has also incorporated Apple Pay, so you can checkout using the new mobile payments system too.
The move into e-commerce looks set to prove lucrative for Pinterest as it searches for new ways to monetize its business. Data published this year by research firm Millward Brown suggested a whopping 93 percent of active Pinners turn to Pinterest for planning some of their purchases.
However, Pinterest will not take a cut in any sales made via its new feature. Instead, it hopes to attract more merchants to its paid-for promoted-pins product, through which the buy button can then be added.
In addition, Pinterest users purchasing goods via the new button will face no additional charges, the company said.
Pinterest’s announcement comes days after Google said it planned to bring a similar feature to its mobile search results, while Twitter and Facebook are also moving toward the full rollout of buy buttons as part of the ongoing quest by social media companies to rake in more revenue.