Pinterest introduced two new shopping features Tuesday: browsable catalogs alongside Pins, and personalized shopping ideas in its feed.
When Pinners scroll under a Product Pin and click “More from the brand,” they will see all of the latest, in-stock products from that retailer in one place.
And while Pinterest users are shopping, personalized shopping ideas will appear atop their feeds.
Pinterest said in an email, “Pinterest has a growing suite of shopping features including Product Pins, catalogs and shopping ads, and, when combined, they enable retailers to distribute their products across shopping surfaces to an audience with commercial intent.”
The company also conducted a multitouch attribution study with Neustar, in which they measured digital channel performance for paid search, paid social and display ads for five retail brands in the U.S., tracked to their online and in-store sales.
The study found that while Pinterest accounted for 11% of total media spend among the five retail brands, it generated 18% of their incremental sales and revenue, making it 2.3 times more efficient than social platforms, 1.5 times more efficient than paid search and 1.1 times more efficient than display.
Pinterest said the participating brands saw two times higher return on ad spend on its platform than on social media, and 1.3 times higher than on paid search.
The study also found that 75% of sales that came from Pinterest took place more than one week after people saw ads on its platform, meaning that Pinterest influences purchasing decisions early in the shopping process.
Saying that last-click attribution does not provide the full picture, Pinterest and Neustar found that when the latter ran a last-click model on these five U.S. retailers, that model underreported revenue from Pinterest ads by 48%.
The study concluded, “Because people use Pinterest so early in their shopping journey, marketers need to adjust their attribution windows to give people time to make a purchase, before declaring a return on ad spend.”