Pinterest is continuing to push hard into e-commerce. On Thursday it introduced price-drop notifications for its Buyable Pins as well as a shoppable collection that resembles a coupon circular in that it only features Buyable Pins with reduced prices.
Pinterest said it has more than 1 million price drops daily. Brands selling goods through the platform include Nordstrom, Neiman Marcus and Kate Spade.
The image bookmarking service recently added thousands of new merchants with the addition of three new e-commerce platforms: Magento, IBM Commerce and Bigcommerce. There are no fees for merchants or Pinterest users; the company generates revenue whenever merchants advertise on the site.
Still, Pinterest still has some way to go in improving its user experience. The site is still plagued with broken links, 401 redirects or unsearchable products. The company has taken steps to address those needs with two acquisitions it announced earlier this month.
The company is offering price alerts in an effort to generate additional revenue as it likely moves toward a future IPO offering. In March, the company named Tim Kendall – who was previously head of product management – as Pinterest's first general manager of monetization.