“Pinterest is a tool for collecting and organizing things you love.” (Pinterest)
By now, most people have heard of Pinterest, a social media platform that lets users pin items to pin boards in an image format. Since going live three years ago (March 2010), Pinterest has managed to garner a loyal following with over 70 million users and growing (TheNextWeb).
Females pin the way
The Pinterest user is predominately female. Women are 5 times more likely to use Pinterest than men (mediabistro). In a recent survey, 53% of women said that they have made a purchase based on a recommendation from Pinterest (Blogher). As well, over 50% of female users consider Pinterest a source of entertainment (Blogher). The average user spends 14.2 minutes on the site per visit (Pinterest Insider).
Will Pinterest be the bridge between e-commerce and in-store retail?
Image: Nordstrom’s “Popular on Pinterest” in-store tag
Social media has infiltrated the bricks and mortar arena. Nordstrom is leading the way on Pinterest with over 4.4 million followers. In store, popular Pinterest items are marked with ‘Popular on Pinterest’ tags. According to Bryan Galipeau, social media manager at Nordstrom,”The customer is voting with their pins to tell us what they think is hot – and we’re listening closely… It’s always really exciting to see what they pin” (Business Insider). The Pinterest tags will first appear in the women’s shoes and handbag departments. Galipeau recognizes the power of Pinterest and bridging the social and retail as one seamless experience, “Pinterest is in many ways the world’s biggest wish list – and so it also fits well with our goal of having our merchandise show up in our customer’s wish lists” (Business Insider).
E-Commerce + Pinterest = Awesome, according to Target
Target is another retailer that understands the impact of Pinterest. The company recently launched an e-commerce site Target Awesome Shop (in beta). Users can scroll over popular items to read reviews and make a purchase.
According to A Bullseye View, Behind the Scenes at Target, “each item featured in the Target Awesome Shop is one of the most-pinned Target.com products on Pinterest in the last few days… Target Awesome Shop only includes products that have at least a 4-star guest review (or no reviews so far) so you’re getting a double stamp of approval” (A Bullseye View).
There is a strong future for retail and Pinterest
Headlines are popping up regarding the future of Pinterest and its potential to drive sales and business growth. In 2014, there will be more brands trying to grow their presence on Pinterest to increase social/retail engagement and generate revenue. Here are just a few articles for further reading:
- Revenue from Pinterest more than triples on Cyber Monday, Piqora Blog
- A Pin On Pinterest Is Worth 25% More In Sales Than Last Year, Can Drive Visits & Orders For Months, TechCrunch
- How Pinterest Drives Online Sales, Infographic, Shopify
- Mindboggling Facts That Will Make You Care About Pinterest, Pinterest isn’t going away and it’s only getting bigger. Here’s why it’s the social platform to watch, ReadWriteWeb
- Digitas Pinterest Analytics: Brands, Go Forth and Pin, Infographic
- Sephora: Our Pinterest followers spend 15X more than our Facebook fans, VentureBeat
- On Pinterest 70% of Brand Engagement is Community Driven [INFOGRAPHIC], Curalate
- Facebook, Pinterest, Twitter, and YouTube referrals up 52%+ in past year [REPORT], Shareaholic