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Social media and retailing: Pinterest drives engagement and sales

  • May 2014
  • 24 pages
  • MarketLine
Report ID: 2188859

Summary

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Introduction

Retailers are increasingly using social media to enhance their brands and drive traffic & sales. This case study looks at how social media can affect consumer engagement & sales. Pinterest is a particular area of focus; the social network is fairly new and growing fast. The image-based network has been found to generate sales, and retail giants such as Target and Nordstrom have utilized this.

Features and benefits

* This case study looks at how retailers use social network platforms like Facebook, Twitter, & Pinterest, engage with their customers & drive sales
* Pinterest is looked at in detail; its image-heavy platform and unique features facilitate selling by retailers to consumers
* Nordstrom, Target, and CB2 have all come up with different ways of using Pinterest to their advantage. This case study looks at this in more detail.

Highlights

Mobile shopping is growing fast on Pinterest: Between January 2013 and January 2014, mobile transactions through Pinterest went up by 77.2%, mobile revenue grew by 224.1%, and average order value went up by 79.3%. The number of new visitors that were sent to retailers by Pinterest increased by 46.2% in 2013
Pinterest has been credited with 'reverse showrooming'; 21% of Pinterest users had bought an item in a bricks & mortar store after Pinning, Re-Pinning or liking the item on Pinterest. Retail giants Target & Nordstrom have invested in social networking on Pinterest. Target's use of Rich Pins generated a 70% increase in traffic in the first six weeks
Content sharing is on the rise; 25% for Reddit, and 14%, 12%, and 5% for Facebook, LinkedIn and Pinterest, respectively. The value of a positive online share increases purchasing intent by 9.5%, and spending value by 8.8%

Your key questions answered

* How do retailers use social media? How successful is it?
* Why do retailers use Pinterest? How successful is it?
* What are the benefits of using social media?

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