In a sign of things to come, Pinterest is widening its reach within the eCommerce sector by introducing new tools utilising augmented reality.
In the past year, there's been a 32% increase in the number of Pinners engaging with shopping surfaces on Pinterest, leading the company to promote new initiatives.
The company's new "Try On for Home Decor" platform is set to give consumers a new way to virtually see items from multiple brands in their actual home. In conjunction, it will also allow them to shop with inspiration through catalogues and get recommendations from their retailers.
"Try On" is activated when browsing home decor products in the Pinterest iOS or Android app. Three dots will appear in the top right corner of "Try On enabled" and allow a variety of menu options and moveable tokens to enable customers to adjust items to their space.
Starting initially with "Try On Lipstick" in 2020, Pinterest has slowly been branching out into the augmented reality space, leading to more opportunities for retailers through AR/VR technology innovations.
With the rapid expansion of the metaverse, retailers and consumers need to keep up to enhance customer engagement, and the "Try On" series has proven to yield results for Pinterest. Company research suggests that Pinners are 5x more likely to purchase from Try On-enabled Pins than standard Pins.
Retailers like Crate - Barrel, CB2, Target, Walmart, West Elm, and Wayfair are just some of the companies that are part of the home decor initiative. Pinterest hopes to expand its operations to include more, particularly on an international scale.
"Since the pandemic began, we're seeing more digitally savvy shoppers than ever before, as millions of people now expect virtual and mobile options to try before they buy, see personalised recommendations, and gather information as part of their decision making process," says Pinterest SVP of engineering Jeremy King.
"These behaviors are happening across Pinterest every day, which is why we're continuing to advance technologies like AR Try On and make Pinterest a full funnel shopping destination that takes people from inspiration to purchase anywhere in the app."
The new technology is being heavily marketed for mobile, with Collison's Foresights Factory study finding mobile is already the preferred channel for 34% of global consumers. In addition, 46% of shoppers also said they would never go shopping without using their mobile, rising to 50% in the Gen Z and millennial category.
CB2 SVP marketing Samie Barr says that the working rollout has allowed SB2 to open new retail doors and believes it is an excellent tool for retailers and social media companies alike.
"Pinterest's Try On For Home Decor can play a strong role in making this journey as seamless as possible by bridging the gap between virtual commerce and reality," Barr says.
Try On For Home Decor is currently rolling out in the U.S. on iOS and Android apps and will be available globally in the future.