As social media companies look for new ways to leverage contextual commerce to drive revenue, Pinterest is launching its first shoppable streaming series.
The company recently announced the launch of Deliciously Entertaining, in partnership with lifestyle media company Tastemade, with an influencer host and select celebrity guests, that includes “an actionable and shoppable experience on Pinterest.” The move marks another step in the social media app’s efforts to drive shopping via the platform.
“Pinterest is all about finding inspiration to then take action and expand your horizons. That’s exactly what Deliciously Entertaining will encourage viewers to do,” Nadine Zylstra, global head of programming and originals at the social media app, said in a statement. “The concept is entirely inspired by Pinterest trends and the calendar moments that matter most to Pinners.”
Indeed, across social media, leading players are making forays into shoppable livestreams, to varying degrees of success. In September, TikTok announced the rollout of TikTok Shop’s shoppable videos and livestreams nationwide, with the service having undergone testing in the U.S. since the previous November.
Yet a year ago, Meta shut down Instagram’s live shopping in a shift towards focusing on “products and features that provide the most value to our users,” suggesting that adoption may not have been quite what the social media giant hoped.
Social media purchases remain relatively uncommon. The PYMNTS Intelligence report “Tracking the Digital Payments Takeover: Monetizing Social Media,” which drew from a study of nearly 3,000 U.S. consumers, found that 43% of consumers browse social media to find goods and services. However, only 14% ultimately purchase those goods and services via social media.
That said, consumers are open to more kinds of shoppable media going forward, per PYMNTS Intelligence’s “How We Will Pay Report: How Connected Devices Enable Multitasking Among Digital-First Consumers,” which drew from a survey of more than 4,600 U.S. consumers.
Of the 95% of consumers who own connected devices, the study found, one-third would be interested in an internet-connected buying experience wherein, if they are watching a live-streamed series on an iPad or mobile device and they want to purchase an item of clothing or jewelry that they see on an actor, they could touch the screen to navigate to the product page and complete the purchase.
Indeed, more brands within social media and beyond have been turning to shoppable streaming to drive sales and content monetization. Amazon has its Prime Video X-Ray feature, available on select titles, which offers in-movie or in-series shopping. Walmart has tried shoppable livestreams.
Shein announced Tuesday (Feb. 20) that it will launch its spring and summer collection via shoppable livestream within its app, working with celebrity influencers to attract attention to the event.
While the path to widespread adoption of shoppable media may have its hurdles, the growing interest from consumers and the innovative efforts of platforms and brands alike signal the possibility of a future where entertainment and commerce converge more fluidly. As Pinterest gets in-house shoppable content, it remains to be seen how competitors will step up their commerce-integrated media offerings.
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