Oct. 6 (Reuters) – Pinterest (PINS.N) will roll out new features for brands to promote their products and ideas to users, the digital bulletin board company said on Wednesday, as part of an effort aimed at developing online shopping on its site.
The features come as social media rivals including Facebook (FB.O), TikTok and Snap Inc (SNAP.N) compete for the lucrative e-commerce market with in-app purchases or virtual clothing trials.
Brands can now upload their product catalogs and Pinterest will automatically embed the items into an advertising slideshow that is tailored to users based on their interests, the company said.
This feature will make it easier for advertisers to have video ads, which can take a long time to produce, said Julie Towns, global head of ad product marketing at Pinterest.
“We want to develop this eye-catching aspect of the video,” she said.
Even as other tech giants enter e-commerce, the benefit of Pinterest is that users access the app with a buying mindset and to “plan for the future,” Jon said. Kaplan, Pinterest chief revenue officer.
The site has become widely known as the place where users can save ideas for topics such as weddings, home decor, or recipes.
Pinterest will also introduce an advertising format to facilitate collaboration between businesses and content creators in paid partnerships. For example, a creator can post a video about a dessert recipe, and a baking brand can pay to promote that ad to more users.
Reporting by Sheila Dang in Dallas and Arriana McLymore in New York; Editing by Cynthia Osterman
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