This morning, Pinterest introduced price-drop notifications on pinned items. The company will now send an email when prices on user-pinned items decline.
Pinners will automatically get these price alerts without configuring anything. They’ll be grouped into a single email; however users can adjust settings to change their frequency.
The new price-drop alerts build on the earlier introduction of “rich” product pins. Pinterest says there are already millions of product pins on the site since being introduced earlier this year.
Beyond delivering information many will appreciate, the idea is to “turn pinners into shoppers.” Large numbers of people on Pinterest are already in a kind of “shopping mode,” seeking ideas and expressing product preferences (see Nordstrom’s use of popular pins in stores).
The price-drop alert will become a soft call to action that will drive purchase behavior among many consumers. Among other benefits Pinterest says that product pins see higher CTRs to merchant sites and offer greater visibility to brands and retailers.
There’s no fee associated with rich product pins or price alerts. But Pinterest is clearly building momentum toward something like “promoted pins.”