Pinterest (PINS -5.2%) used its annual advertiser summit Thursday to roll out new commerce features enabling more users to complete purchases without leaving the company’s app.
At its “Pinterest Presents” event, the company noted that its users will soon be able to complete transactions in the app – a longtime user request – through Checkout, a native tool available in beta for some Shopify (SHOP -4.3%) merchants in the U.S. That follows similar moves by Instagram (FB -2.4%), which debuted checkout a few years ago and has been adding checkout-related features since 2020.
A new application programming interface for shopping is automating the uploading and updating of catalogs.
Meanwhile, the company tapped shopping personality Tan France to introduce its “Your Shop” feature, a “personalized shopping concierge offering custom commerce pages to users, based on their activity on the platform as well as stated preferences. That feature is also in beta in the U.S., with plans to expand more later this year (and to other countries).
Pinterest says monthly shoppers on its platform outspend those on rival platforms by two times, and that brands with its merchant details on their profiles were 16% more likely to make a sale.
The company also notes its Pinterest Trends tool is adding more features in Canada, the UK and the U.S., with more countries to come this year. That tool adds more granular audience measurement as well as personalized recommendations for businesses.