Pinterest, the online website and mobile app for sharing photos, has announced earlier this week that they are installing three new “tools” or software features that will increase their user’s experience, specifically for when their users are interested in purchasing the products in the pictures. The three new tools include “Lens”, “Shop the Look”, and “Instant Ideas”. Lens lets the users of Pinterest, also known as pinners, use the cameras on their phones to take a picture of something they see either in a store, magazine, etc. and look for it on the Pinterest app. Essentially, the pinner will be able to search for pictures of the item in use. For example, say the pinner is looking to buy a specific shirt, the app will produce pictures of the shirt or similar shirts as a part of put together outfits. The second tool, Shop the Look, will allow the pinner to directly purchase an item off of Pinterest. The third and final new tool, Instant Ideas, will generate pin recommendations that are personalized for each specific user. Pinterest already does this, but this tool’s recommendations will be immediate and constant, the fastest yet for the app. The tool will involve a button that the user presses when on a pin and the tool automatically displays similar items as the ones in the original pin.
The idea for these new tools come from the significant increase they have seen in users’ involvement with pin recommendations. There is a lot of money that can be made by Pinterest by connecting consumers to products which essentially is what all these software features are trying to accomplish. Any merchandising or manufacturing company can also see a benefit to this type of software being used on an app like Pinterest. It is advertising and sales in one.
Not only will the companies selling the products benefit, but so do the consumers. Consumers will be able to save time and maybe even money by using these features. They are also more likely to find exactly what they are looking for in a product.
Overall, this software is revolutionizing the ways in which people will search for and purchase products online. Pinterest has seen increases in their annual revenues because of the ways in which the app engages with both consumers and manufacturers and by stepping up their game even more with these features, it is likely that they will see the same trend of increases in their revenues for this year. These new features will entice manufactures and other companies to advertise their products on Pinterest which will also result in an increase in Pinterest’s revenues.
IT software, like the following ones that have been mentioned, are advancing all aspects of technology, including the ways in which merchandise is being sold online. This kind of software is making the online transactions, usually known to be very impersonal, more personal and increases the level of engagement between consumers and online merchandisers.