Since its launch, Pinterest has proven to be a valuable source of referral traffic for marketers. Now, the online bulletin board is determined to prove its worth as an e-commerce platform.

In May, Pinterest introduced Rich Pins which include additional information about a pin like prices and availability. But while current pricing information was available, there wasn’t a simple way to tell if the price had dropped — until today.

With the latest update, Pinterest added price alerts to its service. This means that members will receive an email notification whenever there’s a change in price in one of their pins. Pinned products on the platform will display the price change as well, indicating that the current price has dropped from a higher one.

According to the company, the new feature is rolling out slowly, so not everyone will see it right away. Additionally, it will try to compile notifications into as few emails as possible so as not to clutter inboxes. Email frequency can also be adjusted through an individual’s account settings.

This seems like a logical next step, and one that brands will benefit from. Since their launch, product pins — which display current price, the retailer’s logo, and a link to where the product can be purchased — have generated higher clickthrough rates than regular pins. This type of enhancement can be done by placing additional code on your website.

Currently several retailers are using this method, including Target, Sephora, Home Depot, and Etsy. It’s still too early to tell if Pinterest will become the go-to place for online shopping, but with today’s update, it certainly looks to be on its way.

[Image credit: Fosforix]