Library creation by users

Scenario is: I need any user of my site can create it’s own library of posts and products in their site account.

Elaboration: Site contain some products and blog articles when user comes to site and search for any word then user gets the mix result of posts and products on the page now I need each posts and product should have an button which says ‘save to library’.
On click of that button an pop up will open which ask a user to enter the name for the created collection(folder). which can be edited later. In this way a user can create a collections of posts and products in the account and can drag and drop the item from one collection(folder) to another collection .