Key points:
- Pinterest enters partnership with leading e-commerce platform WooCommerce
- The deal increases the Pinterest user shopping experience and brings more exposure to digital merchants
- PINS stock is showing a small daily gain of 1.7%
A partnership between Pinterest (NYSE: PINS) and WooCommerce seems to make logical sense. Pinterest is a visual discovery engine, a platform where users can browse, explore, develop new tastes or hone old ones; a place where style and individuality underpin its very essence. To partner with WooCommerce, the leading open source ecommerce platform, almost seems long overdue. The partnership will allow a cohesive exchange of services that benefits both companies and their avid users.Â
Merchants will benefit from the leveraged exposure provided by the mass user base of Pinterest, and Pinterest users will therefore benefit from a wider selection of purchasable goods, through the ease of WooCommerce. This is the first time that mutual merchants will be able to offer Pinterest shopping functionality directly from their usual accounts.Â
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Its estimated that the integration with allow over 3M WooCommerce sellers to connect to Pinterest’s 400M monthly users. With 97% of Pinterest top searches are unbranded, it means that generally, users are still within the open-minded discovery stage. Looking at purchases, Pinterest users spend twice as much as consumers using other platforms.
Aleksandra Battin, Vice President of Business Development at WooCommerce stated:
“By partnering together we provide the best integrated Pinterest shopping experience possible for WooCommerce merchants to be on the cutting edge of social commerce…WooCommerce is highly invested in our merchants' success. Merchants need the right options to reach the right audiences–this integration with Pinterest helps them do that.”
As pointed out by Battin, the partnership stands as the cutting-edge of social commerce, where shoppers and individual merchants face seamless integration. Reaffirmed by Head of Shopping Product Marketing at Pinterest, Rachel Hardy:
“Pinterest supports the entire shopping journey not just for Pinners, but for advertisers, merchants, and creators too. Our goal is to make it easier than ever for WooCommerce merchants to reach and convert Pinterest shoppers.”Â
PINS stock is currently trading at a daily gain of 1.7%, but is down around 72% annually. The partnership with WooCommerce has the potential to spark more impressive revenue growth, so investors might want to listen in to the next earnings report.Â
