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5 reasons Pinterest matters for your business

All of the products available on Pinterest

Pinterest

This week WGSN is reporting live from Shoptalk, the first annual commerce conference in Las Vegas.
As part of the speaker line up we heard from Pinterest’s president, Tim Kendall. He explained how the visual, digital discovery tool is fast becoming the world’s catalog of ideas, and what this means for retail business that want to attract new customers. And it is worth noting, that the digital platform is not just for retailers wanting to attract female shoppers, as the gender ratio for the site is slowly evening out, Kendall explained: “Some research we did showed four years ago we were probably 98% skewed towards women. Now it’s much more even than people realise”.
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Here’s five reasons Pinterest matters for your business:
1.Buyable pins launched last June and currently Pinterest offers 50 million products from over 20,000 retailers that you can purchase: “We’re trying to build a marketplace where people can have access to a great selection to purchase”

2. 75% of all the content on Pinterest is from businesses: “It’s a unique opportunity to not be interrupted at all. It’s a catalogue of ideas, most of which comes from businesses”

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3. Pins could potentially be branded on websites to make them shoppable but that’s not in the pipeline yet. “Over time it might make sense for us to provide a way for them to boost that out to a wider audience but don’t have plans for that at this time”

4. Female shoppers are all about product discovery: “Woman are much more interested in the casual browsing experience with the product. Men prefer a more directive approach”

 5. Pinterest is attracting completely new customers for brands: “The vast majority of people who buy from retailers on Pinterest are from customers they’ve never seen before”

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