According to Alison Paul,Vice Chairman at Deloitte, a consulting company, the Internet was listed as the top destination for holiday shopping so far in 2013. As a counter punch for keeping market share traditional brick and mortar retailers are promoting online sales and free shipping much earlier than in previous years.
As more and more consumers are turning to their social networks such as; Facebook, Twitter and Pinterest for shopping ideas, these platforms especially Pinterest are playing an increasingly larger huge role in influencing purchasing decisions. As a business if you are not using this visual platform successfully you are falling behind the market.
Pinterest has proven to be a powerful marketing force for retailers including big box retailers such as Target, Nordstrom, Sephora and Whole Foods Market all of whom have had huge success with it. Sephora claims that their Pinterest users spend 15x more on their company’s products than their Facebook fans do. Target has seen a 70% increase in traffic from this powerful visual platform since rolling out Rich Pins earlier this year. Martha Stewart receives 10x more traffic from it than Facebook. Pinterest is impacting business, there is no doubt about it.
A new study conducted by the market research firm Lab42 found that 54% of Pinterest users spend their time during the holidays sharing ideas and pinning holiday preparations. This has translated into online retailers tripling sales during Cyber Monday and doubling them on Thanksgiving according to a report by Piqora.
The bottom line is when people are on this very visual social platform they are in a mindset of collecting pictures of the items they want, love and need. And they seem to be using Pinterest like a pre-shopping cart. They do not do that on Facebook or Twitter. It is now the 2nd largest driver of traffic from social media sites (next only to Facebook). If you’re not leveraging this powerful visual platform for your business it is time to jump in.
What has been your experience using Pinterest to drive sales?
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