A picture is worth a thousand words, or in the case of retailers, pictures on Pinterest could lead to thousands of sales.
Recent research cited in a Forbes.com article finds that Pinterest converts more Internet surfers into shoppers than Facebook. Users on Pinterest are 79 percent more likely to buy a product they see on the social media site compared to Facebook.
In addition, consumers follow more retail companies on Pinterest — an average of 9.3 — compared to Twitter, at 8.5, and Facebook, at 6.9.
Why does it seem that Pinterest is better at influencing e-commerce than its social media peers? Pinterest is driven by “pinning” images and sharing links from around the web. People connect with photos in their own unique way, so they are more likely to make “trigger purchases,” experts tell Forbes.com.
People aren’t buying things on Facebook; they’re buying on Pinterest. Facebook is great for brand marketing, which is important.
But Pinterest offers commerce, a showroom and social networking built into one site. Retailers can take advantage of that. If they’re on Pinterest and a product is trending, that’s great.
However, if they’re going to post on the site, they need to be prepared. They must have their supply chain ready, understand the potential rush this could spark and replenish these items very quickly.
For sites like Pinterest, retailers have to feed the instant gratification that customers want. This site is used mostly by women, which is tailor-made to drive sales of clothing and jewelry.
Source: Forbes, May 2012