You can use it to enter/apply to giveaway events hosted by Picky. There are ongoing giveaway events now, make sure to join.
Just recently there was an event where you can exchange picky points for wishtrend points and get discounts, I've exchanged my picky points and got a $40 discount on my purchase (50% of the total cost).
The Picky community helps you discover new products through discussion boards, honest reviews, expert articles and redeemable free product rewards. #GetPicky!