- The partnership should reach Mexico soon;
- According to the company, 97% of the main searches on Pinterest are not related to a specific brand.
Pinterest announced on Wednesday the expansion of its partnership with e-commerce platform Shopify to 27 new countries, including Brazil.
With the new feature, the base of over 1.7 million merchants who use Shopify‘s platform to sell their products will be able to make items available on Pinterest and turn them into product pins, which in turn can be found and purchased by users on the social network. In addition to Brazil, markets such as Australia, France and Germany will also receive the update.
According to the company, 97% of the main searches on Pinterest are not related to a specific brand. “Small and medium businesses in particular have the opportunity to thrive on Pinterest because they connect with consumers in a positive environment when they are early in their decision-making journey and full of purchase intent,” said Bill Watkins, global head of mid-market and small business sales at Pinterest.
“With the retail ecosystem profoundly evolving over the past year, we’re committed to supporting merchants of all sizes by providing them with a quick and easy access to our shopping features.”
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According to Lola Oyelayo-Pearson, director of UX, channels and financial services at Shopify, social commerce has been a driving factor in helping independent companies to attract and retain more consumers. In 2020 alone, the exec reveals that Shopify saw installs of its social commerce channels grow by 76%.
In addition to product pins, new features for Shopify merchants include access to tools such as dynamic retargeting, in which companies can interact again with people who have already shown interest in their products on Pinterest, and the multi-feed support for catalogs, allowing businesses to upload their products in multiple product feeds within the same Pinterest Business account.
Shopify merchants, like any other retailer with a Pinterest business account, can now add up to 20 product feeds to the account, each with specific local data such as currency, language or product availability.
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According to Pinterest, with the support of several feeds in the catalogs, retailers interact better with customers from all over the world and upload a specific feed for each market where they sell their products or to meet different advertising strategies, such as prospecting or retargeting.
According to internal data from the social network, catalog feed uploads increased globally by over 14x in March, in a year-over-year comparison.
Pinterest reached 459 million monthly active users at the end of the fourth quarter of 2020, an annual growth of 37%, according to the company’s financial results. In Brazil, more than 46 million users use the social network every month, according to André Loureiro, general manager of the platform in Latin America.
Expansion to Mexico
Before this expansion, Pinterest has been working with this partnership with Shopify in the United States and Canada since May 2020. According to Loureiro, in the US, the number of users who interacted with buyable Pins after the partnership increased by 44% a year year after year, and total traffic to retailers’ websites increased 2.3 times year after year. “We will soon reach new markets in Latin America, including Mexico,” he told LABS.
Pinterest allows small and medium-sized businesses to provide an online shopping experience similar to that of major players in the industry, according to Loureiro. These marketers use Pinterest to build credibility for their brands and products and to reach these potential buyers through organic and paid strategies. Earlier this month, Pinterest announced the launch of its advertising platform, Pinterest Ads, in Brazil, the first country in the region to receive the functionality.
“For our user, who is always looking for new things, we have increased the diversity of brands and products, generating value for the experience of the platform as a whole.”