Pinterest, advertising functions to promote online purchases

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Pinterest company (NYSE: PINS) is implementing more features for advertisers and brands to promote their products to users of the platform.

What happened

Pinterest has made it clear that it will automatically pull products from catalogs that brands have uploaded to their website and turn them into a slideshow ad. The function of “Slide Show for Groups” will be adapted to the interests of each user.

The digital billboard company is also testing a new feature called Idea Ads with Paid Partnership, which will consist of a joint partnership between creators and advertisers to help them get more users to access the platform.

As part of the job, the brand can promote the “Idea Pin” created by the content creator as an advertisement.

Because it’s important

The new features are part of Pinterest’s efforts to boost online shopping on its platform in the face of stiff competition from social media giants like Facebook Inc (NASDAQ: FB) Y Snap Inc. (NYSE: SNAP).

Last May, Facebook announced the launch of a new “Live Shopping Friday” feature in its flagship Facebook app to take advantage of the online shopping craze that followed the pandemic.

In June this year, Pinterest expanded its shopping offerings with release From the “shopping lists” function. This feature allows users to save their product pins in one place so they can quickly select items they want to purchase at a later date.

price movement

Pinterest shares closed Wednesday’s trading session 0.7% higher at $50.36.