If being the third social network behind facebook and Twitter hasn’t validated Pinterest in your mind yet, maybe this will.
Home Good retailers such as Wayfair (formerly CSN Stores) found that Pinterest referrals are more likely to make a purchase and spend more on average than visitors from other social channels. Wayfair CEO Niraj Shah says that shoppers referred by Pinterest are more 10% more likely to make a purchase than visitors who arrive from other social networks, including Facebook and Twitter. They’ll also spend 10% more on average.
This amount is even more impressive considering Pinterest referrals spend 70% more than visitors referred from non-social channels, including search. However, an important note is they are less likely to make a purchase compared to those referred by other channels.
At this stage in Pinterest evolution, it is safe to say retailers are finding a way to capitalize on this new social media site. But what’s up next?
Pinterest is already available as an iPhone app and from third party developers in the Android Market (now called Google Play). But where is the Apple iPad app? Tablets are quickly becoming one of the most common ways shoppers browse and buy. Pinterest says an iPad app is on the horizon (no launch date given), but let’s take a moment to imagine the possibilities.
The already visual site combined with the most visual shopping platform will make for one eye tantalizing iPad experience. Larger images, sexy sleek interfaces with flick of the wrist scrolling will certainly create hours of consumer browsing while on the couch (myself included). Since iPad is already seeing surprisingly high conversion rates for most retailers, you can bet with the addition of a Pinterest app the impressive statistics will only spike. Not to be forgotten are other popular tablets such as Kindle Fire. Users and prospective users of the Kindle Fire have made their desire for a Pinterest app very clear, and some have even mentioned refraining from buying Kindle Fire 2 until there is an app. That is some dedication to a social shopping experience.
If you are a brand without a Pinterest gameplan, its time to get on the ball. Should you be one of the brands who have already taken notice of this social media explosion, keep an eye out for that iPad app and make sure your analytics are in order.
- Cheryl Sansonetti, 5th Finger