Pinterest expands ad formats
Hot on the heels of the launch of Instagram’s shopping feature in Australia yesterday, Pinterest has announced it is expanding its Shopping Ads format to more businesses, including Australian retailers, and launching its Shop the Look format in Europe.
Shopping Ads, which automatically create Promoted Pins from existing product feeds, are still limited to managed partners. That means retailers cannot set up ads on their own, but must first connect with Pinterest through the business site to do so.
According to Pinterest, however, hundreds of businesses will now be able to make use of the ad format, compared to the few dozen retailers in North America that have been testing the ads in previous months. These include Ulta Beauty, Venus, Overstock, Lowe’s, Ebay, Wayfair and Ikea Canada.
In a blog post on the Pinterest website, product manager Shounak Simlai said Ikea Canada has been able to reduce its overall cost per order by 25 per cent through Shopping Ads, while Lowe’s saw a 76 per cent higher return on ad spend than initially expected.
Meanwhile, Ulta Beauty’s senior vice president of digital and e-commerce, Prama Bhatt, said the platform has aligned well with the visual nature of Ulta Beauty’s products and services.
“Pinterest has proven to be a great match for Ulta Beauty, offering a platform for guest education, exploration and fun that is very similar to the experiential nature of our stores,” Bhatt said.
According to a recent study by Pinterest, 90 per cent of Pinners said they make purchase decisions on the platform, and 70 per cent said they use it to find new products.
As Pinterest continues to expand Shopping Ads, it will continue to explore and test new ad formats for shopping. The platform is currently testing new ad designs that give Pinners more visual shopping cues, such as showing products from multiple angles, or mixing product and lifestyle imagery, so people see how products could fit into their lives.
The platform has also expanded its Shop the Look ad format to France, Germany, Japan and the UK.