Dive Brief:
- Looking to position itself as a holiday gifting destination, Pinterest has launched new holiday shopping features and introduced more than 1,000 gift guides on its platform spanning categories like beauty, travel and gaming, the social media company announced Tuesday.
- Using its new “quick save” feature, shoppers can save Pins from the platform’s holiday gift guides and they will automatically be added to a shoppable wishlist. The platform also has a new “holiday finds” tab featuring a personalized feed of giftable items and ideas.
- Pinterest enlisted celebrities and content creators like Alicia Keys, RuPaul and Emma Chamberlain to help select nearly 40,000 gift ideas. The platform also curated its own gift guides and teamed up with publishers like Vogue and Wirecutter to create lists featuring brands like Savage x Fenty, Carhartt and REI.
Dive Insight:
Pinterest’s latest holiday shopping push follows a string of holiday efforts both online and offline in recent years.
In 2022, the tech company hosted its first “Shop the Holidays” event on Pinterest TV, where shoppers could purchase items from direct-to-consumer, local and international brands showcased in shoppable content. The following holiday season, it teamed up with Anthropologie to launch a shoppable home in Brooklyn Heights, New York, complete with QR codes containing shoppable boards. This year’s effort aims to use curated gift guides and shoppable wishlists to get customers to purchase.
Pinterest has worked to update its platform with other features to court advertisers and make its app more shoppable over the years. In September last year, the company rolled out multiple features, including direct links to brand websites and mobile deep links that connect shoppers to specific pages on a retailers’ app. The changes also included updates to its integration capabilities to make managing product catalogs easier for brands.
Pinterest’s tech infrastructure investments have paid dividends recently. In its Q3 earnings released this month, the company’s revenue jumped 18% from the previous year to $898 million. Its monthly active users grew 11% year-over-year to 537 million.
“Our AI investments are driving results by powering better personalized experiences and greater performance for advertisers, with our lower-funnel ad tools being the fastest-growing part of our business,” Bill Ready, CEO of Pinterest, said in the company’s earnings release. “Advertisers are increasingly relying on Pinterest to engage our growing audience who see us as a great place to find inspiration, curate and shop.”
