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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?

Table Of Contents

Social media and retailing: Pinterest drives engagement and sales
OVERVIEW
Catalyst
Summary
THE USE OF SOCIAL MEDIA IS ON THE RISE AMONG RETAILERS
Billions of people around the world use social media
Social media helps retailers increase exposure and traffic
UK multichannel retailers are using four key social media platforms
CONTENT SHARINGENCOURAGES SALES, TRAFFIC AND ENGAGEMENT
Facebook and Twitter allow retailers to engage with customers
Facebook can target ads by using voluntarily submitted information
Twitter can drive engagement through sharing content and using hashtags
The big social media are experiencing growth in shared content
Positive recommendations drive sales in a range of sectors
PINTEREST CAN HELP GENERATE SALES FOR RETAILERS
Pinterest's features facilitate the marketing of products by retailers
Pinterest's image-based form is processed quickly by users
Rich Pins are enhanced with metadata
The Gifts Feed showcases Product Pins
Pinterest generates sales, traffic, and consumer engagement
Pinterest generates revenues for retailers
19% of Pinterest users spent more in the holiday because of Pinterest
The growth in mcommerce has facilitated increased mobile usage of Pinterest
Pinterest has been credited with 'reverse showrooming'
A pin on Pinterest was worth 25c more in 2013 than 2012
Nordstrom, Target, and CB2 have used Pinterest in different ways
Nordstrom has crowd-source in-store Pinterest merchandising
Target has launched the Awesome Shop and partnered with popular Pinners
CB2 has launched an interactive promotion called APT CB2
CONCLUSIONS
Social media, including Pinterest, is driving sales, traffic, and engagement
APPENDIX
Sources
Further Reading
MarketLine Company Profile - Target Corporation
Ask the analyst
About MarketLine
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