360° Coverage : Retailers get creative with Pinterest

2 Updates

Retailers get creative with Pinterest

Apr 25 2014, 11:44am CDT | by

NEW YORK (AP) — Target, Nordstrom and other big chains are pinning their hopes of attracting shoppers on social media. Retailers increasingly are using Pinterest, a...

Filed under: news

 
 
 

21 weeks ago

Retailers get creative with Pinterest

Apr 25 2014, 11:44am CDT | by

NEW YORK (AP) — Target, Nordstrom and other big chains are pinning their hopes of attracting shoppers on social media.

Retailers increasingly are using Pinterest, a social media site that allows users to create collections of photos, articles, recipes, videos and other images that are called "pins," to draw business to their own sites.

Shoes, handbags and other popular items on Pinterest are being prominently displayed in Nordstrom stores with special tags. Target, the nation's No. 2 discounter, is creating exclusive party-planning collections with top Pinterest users, or "pinners." And Caribou created a coffee blend that was inspired by the coffee chain's Pinterest fans.

The interest in Pinterest comes as retailers increasingly realize the power of social media sites to steer business their way. They've found while smartphone-toting Americans are spending time opining and posting photos online, they also can be encouraged to spend money.

A report on Tuesday from software company Adobe found that year over year, revenue per visit, or revenue from sending users to retail sites through ads, social media pages or brand posts, is 65 cents at Pinterest, 62 cents at Twitter and $1.24 at Facebook.

Founded in 2009, Pinterest is a relative newbie in social media, but its unique interface sets it apart as a marketing tool for retailers. Users can bookmark images they find on the web under topics they create. When users pin an image, Pinterest displays any picture that is associated with it. The effect is similar to a bulletin board: Pins are organized under topics called "boards." Users can follow other people's boards.

The site has become popular among vacationers, designers, hobbyists and do-it-yourselfers. For them, surfing the site can be like falling down a rabbit hole: A search for "red shoes," for instance, could turn up thousands of pins. The site also can be slightly addictive to regular users: Log on for minutes and some users wind up spending hours trawling through boards.

As a result Pinterest is the fourth-largest social media site, with 58.2 million unique users in March 2014, according to research firm comScore. It's behind only Facebook with 198.8 million users, Twitter with 114.3 million users and LinkedIn with 71.7 million users, comScore reports.

But Pinterest might be more valuable to retailers than some of its rivals. Data shows that Pinterest users shop more when they follow links to retailers' web sites. When "pinners" buy, the average order value is $199.16, compared with $92.27 for Facebook and $58.02 for Twitter, according to data analytics company RichRelevance.

Sarah Page, 22, says she has shopped on store sites as a result of finding them on Pinterest, including lulu.com and weddingdressbee.com, where she recently bought a dress. "It definitely generates more shopping," says the business analyst from Arlington, Va. "You don't go to different stores' web sites every day, but you check your Pinterest home page every day."

Regine Labossiere, 32, also shops via Pinterest links. After she started using Pinterest two years ago to plan her wedding, the publicist in Brooklyn, N.Y., got hooked on the site's "shoppable" feel. She most recently bought an $18.99 watering can on Casa.com, after searching for the item on Pinterest. "It has that shopping vibe," she says.

Retailers have noticed shoppers' affinity for Pinterest. Caribou Coffee, which has about 3,500 Pinterest followers, last year asked fans to share what inspires them with the hashtag #caribouinspires. Then, it created a blend of coffee based on the submissions called "Real Inspiration." Home-improvement chain Lowe's, which has 3.5 million followers, users Pinterest to post project ideas using products from Lowe's on a Pinterest board called "The Finishing Touch."

And Nordstrom, which has 4.4 million followers, used data about top pinned items to create in-store displays. Executives have noticed certain items tend to go viral on the site, such as mason jars and a crochet swimsuit by Robin Piccone, which "seems to have a never ending shelf life" on Pinterest, says Bryan Galipeau, Nordstrom's social media manager.

"The unique thing about Pinterest from a retailer's perspective is it's really about the products," he says.

For its part, Target, which has 152,000 Pinterest followers, launched a beta web site in December called Target Awesome Shop that highlights the most popular Target items pinned on Pinterest. The site now offers 1,100 items, ranging from an inflatable movie screen to a tufted loveseat. Target doesn't disclose revenue but Rick Gomez, senior vice president of marketing, says Pinterest is a "strong social driver of traffic to Target.com."

Target also is partnering with three Pinterest users with the most followers on a new line of party products. The first collection, with designer Joy Cho, launched March 16 and includes colorful hats, plates, napkins and other items. Cho, who joined in Pinterest in 2010 and has 13.6 million followers, says she is often inspired by Pinterest. "It's the equivalent to tearing out magazine pages and making a scrapbook," she says.

At first Pinterest worked with retailers for free. But in recent months the site has tested services that would allow it to charge for such things as promoted pins, which would are similar to ads.

eMarketer analyst Debra Aho Williamson said Pinterest's business is going in the right direction since promoted items on Facebook and Twitter have conditioned social media users for ad intrusion. "I think if Pinterest ... makes sure ads ... fit in with what people are doing on Pinterest, I don't think they'll face ... backlash," she says

In the meantime, Pinterest has no steady revenue stream. But investors seem to have confidence in the privately-held company: Pinterest has raised enough from venture capitalists to value the company at $3.8 billion.

"Pinterest ... helps people plan their futures," says Steve Patrizi, Pinterest head of partner marketing. "Businesses are an important part of this because pins can be anything you can find on the web, from products to articles to recipes."

 
Update
2

3 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) and slashing the workforc ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

3 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double trage ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/31" rel="author">Associated Press</a>
The Associated Press (AP) is one of the largest and most trusted sources of independent newsgathering, supplying a steady stream of news to its members, international subscribers and commercial customers.

 

blog comments powered by Disqus

Latest stories

High-level Indian ministerial visits to London next month
London, Sep 21 (IANS/RAY) India's Finance and Defence Minister Arun Jaitley is scheduled to visit London Oct 13-14 for an interface with financial institutions to persuade them to invest in India.
 
 
Expressway to link Vietnam and China opens
Hanoi, Sep 21 (IANS) Vietnam's longest expressway connecting Noi Bai in capital Hanoi and the north-western Lao Cai province, bordering China, with a total length of 245 km, officially opened to traffic Sunday.
 
 
G20 deal on sharing bank data to help India battle black money
Cairns (Australia) Sep 21 (IANS) In a major step that will aid India track and recover black money stashed abroad, G20 finance ministers Sunday agreed on allowing automatic sharing of all bank information with tax authorities at the end of each year, starting 2017.
 
 
Shun sedentary lifestyle to stay sharp
New York, Sep 21 (IANS) Engaging in physical activity and avoiding a sedentary lifestyle are both important for maintaining an adequate brain health in older age, says a study.
 
 
 

Latest from the Network

Indian swimmers fail to qualify at Asiad
Incheon, Sep 21 (IANS) Indian swimmers failed to qualify for the finals in their respective categories at the Asian Games held at the Munhak Park Tae-hwan Aquatics Center here Sunday. Saurabh Sangvekar failed to...
Read more on Sport Balla
 
Force India drivers finish in points
Singapore, Sep 21 (IANS) Both Force India drivers successfully finished among the points as Sergio Perez and Nico Hulkenberg ended seventh and ninth respectively at the Formula 1 Singapore Grand Prix here Sunday....
Read more on Sport Balla
 
Indian medallists at 2014 Asian Games
Incheon, Sep 21 (IANS) The following are Indian medallists at the end of the second day of competitions at the 17th Asian Games here Sunday: Gold: Jitu Rai: Men's 50 metre pistol shooting Bronze: Shweta Chaudhary:...
Read more on Sport Balla
 
Afghanistan declares Ghani Ahmadzai as president-elect
Kabul, Sep 21 (IANS) Afghanistan's Independent Election Commission (IEC) Sunday declared Ashraf Ghani Ahmadzai as the new president, an official said. "Since we Afghans do not have computerised ID card, we do not have...
Read more on Politics Balla
 
Indian women settle for badminton team bronze
Incheon, Sep 21 (IANS) Ending a 28-year-old medal drought in badminton at the Asian Games, India Sunday settled for the bronze in the women's team event going down tamely to hosts South Korea in the semi-finals at the...
Read more on Sport Balla
 
'Cape Fear' actress Polly Bergen is dead
Los Angeles, Sep 21 (IANS) Emmy-award winning actress and singer Polly Bergen, still remembered for playing the terrorised wife in the original "Cape Fear", has died, according to her publicist. She was 84. Bergen...
Read more on Celebrity Balla
 
India thrash Sri Lanka 8-0 in Asiad men's hockey
Incheon, Sep 21 (IANS) Playing their first match of the Asian Games at the Seonhak Hockey Stadium here, the Indian men's team defeated neighbours Sri Lanka 8-0 in a Pool B contest here Sunday. It was Rupinder Pal...
Read more on Sport Balla
 
Indian women shuttlers settle for Asiad bronze
Incheon, Sep 21 (IANS) Indian shuttlers had to settle for the bronze in the women's team event of the Asian Games as they lost their semi-final encounter 1-3 to hosts South Korea at the Gyeyang Gymnasium here Sunday....
Read more on Sport Balla
 
Great expectations from Modi's US visit
Washington, Sep 21 (IANS) There are great expectations all around from the corridors of power in Washington to business circles to the Indian-American community from Indian Prime Minister Narendra Modi's landmark visit...
Read more on Politics Balla
 
Hard to fight against Joshna: Dipika Pallikal
Incheon, Sep 21 (IANS) Indian squash star Dipika Pallikal said here that it is tough to fight for a medal, especially when you are facing a compatriot in the quarter-finals of the Asian Games. The World No.12 Sunday...
Read more on Sport Balla