"big brands pass [Pinterest] pieces of data such as price that are shown on their Pins of products which they hope users will repin ... partners could soon push more data into the API, which could “enable pretty sophisticated experiences” like multi-product Buy buttons ..
.. With a single tap, you could buy all [recipe] ingredients at once, have them delivered, and start cooking what you discovered on Pinterest 45 minutes later ... you could find a lamp on Pinterest and instantly add it to your Amazon Wish List thanks to a “Wish List” button powered by data Amazon sends to the Pinterest API."
Between stuff like this and the juggernaught that is Amazon, it's hard for me to see how traditional retailers are going to survive outside of certain small niche markets.
Where traditional retailers can thrive, is in the H2H (human-to-human) market. Make traditional retail be a destination for the local community by organizing events related to their business, and make the actual business (retail) be the side affect of it. It may not be as profitable as they used to be, but they can remain relevant and even thrive.
Radioshack comes to mind, they could have reclaimed their #1 destination for hobbyists by repurposing their shops as hacker spaces.
I think this is why bookstores even still exist. I know they've reduced greatly in number, but every time I'm in one, I see people sitting with friends, drinking coffee, browsing books.
Fewer stores, stronger community, larger profits :) It's like email newsletter marketing... give away your content free to the 98%, the other 2% will buy your premium priced items and more than make up for the rest.
Depends what you mean by "traditional". Traditionally, retailers have always been about niche markets in one form or the other, originally simply geographically.
The massive chains are going to get buried, but I wouldn't call those traditional. And I won't miss them polluting the high streets either.
I'm surprised there isn't more talk about how Pinterest stopped allowing any links with affiliate codes and started treating anyone that used them like a spammer.
This new integration is cool, it's what they need, but the attack on people using affiliate links is pretty lame.
Affiliate marketers are so good at destroying the web for everyone else (e-mail spam, forum spam, blog comment spam, facebook spam, ...) that I'd not want them on my social platform either.
Any more info beside "enter your email" about how this will work?
Especially how delivery information is collected? How are refunds handled? how is product information displayed (i am dubious that people would buy anything by just looking at a picture)?
If the "buy" button takes the user to sellers' whatever e-commerce solution then it is a win..and I dont mind giving % to a pinner. We use Shopify for our products and Shopify is also powered by Stripe.
Etsy moves to buy Pinterest in the next week. This would seriously undercut their market.
Though how will this handle people pinning other people's products? Does the pinner get a cut if someone buys someone else's product through their pin? How do you verify legitimate retailers?
It doesn't make sense and wouldn't for a while. I don't think the potential would justify the market overlap, the work surrounding an acquisition of that size, and the risk of pissing off other large partners that Pinterest needs right now. Pinterest is still in the very early stages of monetizing and I'd imagine they want to get the current stuff right first.
Geeze. Didn't realize they'd hit 11B in valuation, though we don't talk about them as often as AirBnB and Uber.
I guess the question then becomes does Pinterest see it as being worthwhile to buy Etsy out or do they just run them out of the market? Etsy shop owners could simply "pin" links to their stuff and voila off we go. It'll probably come down to the cut Pinterest takes from the sales. If they offer a lower % than Etsy, they'll stand a chance at running Etsy out of the market and seeing a higher conversion rate.
"There is no fee for buyers and merchants .. Users can pay with a credit card or with Apple Pay."
Yesterday's article: http://techcrunch.com/2015/06/01/pinterest-buy-button/
"big brands pass [Pinterest] pieces of data such as price that are shown on their Pins of products which they hope users will repin ... partners could soon push more data into the API, which could “enable pretty sophisticated experiences” like multi-product Buy buttons ..
.. With a single tap, you could buy all [recipe] ingredients at once, have them delivered, and start cooking what you discovered on Pinterest 45 minutes later ... you could find a lamp on Pinterest and instantly add it to your Amazon Wish List thanks to a “Wish List” button powered by data Amazon sends to the Pinterest API."