The Growth of Pinterest
Pinterest, a social bookmarking site founded two years ago, has been gaining significant traction in the online world. The platform allows users to collect and share their interests from around the web, driving substantial traffic to retailers’ websites with no signs of slowing down.
Online Bulletin Boards and Pinboards for Various Categories
Members can create online bulletin boards or “pinboards” for popular categories such as home decor, food, and wedding inspiration. By using Pinterest’s “Pin It” bookmarklet tool and iPhone app, users can save things they like both online and offline. Moreover, they can explore and repin images collected by their friends via personal newsfeeds.
Popularity Among Women
According to Experian Hitwise, the website is especially popular among women who make up 58% of Pinterest’s traffic.
Rapid Increase in Traffic
Between September 2011 and December 2011, Pinterest’s traffic increased more than fourfold, attracting 7.51 million unique visitors in December alone. Data from Compete indicates a corresponding rise in the amount of traffic Pinterest sent to other sites. Internal data from Monetate reveals that Pinterest has become a top-five referrer for several apparel retailers.
Search Dominance and Conversion Rates
Although Pinterest is emerging as a significant source of traffic for retailers, search still dominates the online landscape. Furthermore, the platform has not yet proven itself as a potential sales channel. Currently, there is limited data available regarding Pinterest’s conversion rates for retailers.
The Future of Pinterest in Online Retail
In conclusion, Pinterest has demonstrated its ability to drive traffic to retailers’ websites and grow its user base rapidly. However, its potential as a sales channel remains uncertain. As the platform continues to gain popularity and evolve, it will be interesting to see how Pinterest impacts online retail in the long term.
