October 25, 2020
Nearly 50 million new customers started using Pinterest since the onset of the pandemic, according to the Pinterest statement. It has also secured more advertisers over the same period. They launched new solutions for advertisers in September. Pinterest opened three of the most visited areas to shop on the site: Pinterest Lens, the shop tab in search, and shopping on Pins.
Users in the UK will be able to buy more products directly fro...m the platform, whether it’s from search results, their boards, or even through the Lens camera visual search feature. The platform announced it was testing Story Pins, which combine multiple pages of images, videos, voiceover, and overlaid text. Pinterest advertisers will also be able to see more clearly the impact of both paid and organic content on-site visits and checkouts when they use the analytics tool Conversion Insights. Pinterest partnered with Shopify to allow sellers in the US and Canada to turn existing products on their store into Product Pins. The company wants more advertisers to use it as a full-funnel marketing solution. Pinterest expects revenue to grow in the mid-30% range in the latest quarter to around $364 million.