Pinterest has made it easier for shoppers to find products that match their interests and inspirations.
The company recently added personalised shopping hubs to its home feed. The shopping hubs will be featured at the top of the feed.
At the same time, the microblogging network updated its shopping section below Pins so users can easily check out brand catalouges.
For retailers and brands, the update adds another option to reach Pinners through product discovery.
“Pinterest has been an important brand awareness and acquisition tool for our brand,” explains Ariel Kaye, Founder and CEO of Parachute.
“As home is one of the most popular categories on Pinterest, and users regularly look to the platform to find inspiration for their interiors, Pinterest has provided us with a natural destination to connect with our growing community. We’ve found that people increasingly use Pinterest to search for specific types of products and vignettes, and Pinterest’s growing suite of Shopping tools helps us to meet that customer demand, providing those shoppers with relevant options from Parachute.”
Retailers saw a 2x higher return on ad spend on Pinterest than other social media networks and a 1.3x higher return on paid search, according to new research by Neustar.
According to the research, people flock to Pinterest to find product inspirations. However, going from inspiration to checkout wasn’t an immediate transaction. Neustar noted that some people took longer (sometimes one week or more) to make a purchase based on a Pinterest inspiration.
According to the study, revenue from Pinterest ads may be 48% underreported. Therefore, advertisers will need to adjust their attribution windows.
Pinterest was also found to be the most efficient channel for retail brands, generating 18% of sales and revenues – 2.3x more efficient than social media platforms, 1.5x more efficient than paid search and 1.1x more efficient than display.