What we learnt and how you can maximise this inspired platform for your fashion business.
What can we say, we LOVE pinterest at Style up social and following their recent Pinterest presents ads summit, we are obsessed!
Fresh trends. Innovative tools. Inspiring research.
From new shopping products to unexpected trend predictions we are always left feeling energised with Pinterest, unlike some of the social media drain other platforms can bring.
On Thursday 10th March 2022, Pinterest ran their advertising summit to take us through the latest news and updates and in case you missed it, we have rounded the key facts you need to know as a fashion business.
Bigger baskets than other platforms
Pinterest shoppers outspend people on other platforms
Searches are unbranded
- For the last 2 years, 8/10 of their predicted trends came true.
- 9/10 people say pinterest is their online oasis.
- Audiences who engage with idea pins, have a much higher conversion rate.
- Pinterest shoppers outspend people on other platforms by 40% every month.
- Pinterest is the no1 place for inspiration – ahead of other social platforms, tv, magazines etc.
- Brands with merchant details on their profile are 16% more likely to make a sale.
- Pinterest drives 10x higher branded searches than others.
So what can we expect next?
Faster, easier purchases with Pinterest Checkout
We asked and Pinterest is delivering. ‘Checkout’ is the new way for people to shop directly on Pinterest.
It’s a new tool that will let people complete an entire purchase on Pinterest, without leaving the Pinterest shopping experience. Once it’s live, it’ll make Pinterest shopping as simple as “see it, love it, buy it!”
New ways to shop according to your values and tastes
One of the reasons we love Pinterest so much is how different it feels. It is not social media, it is a discovery tool so naturally Shopping on Pinterest is different. It is a more inspiring, visual environment. Way before shoppers even know how to describe what they’re looking for, they find it on Pinterest. They know it when they see it. For those already familiar with Pinterest, you will know that platform is uniquely positioned to help people find their new favourite thing.
That’s why Pinterest shoppers outspend people on other platforms by 40% every month.
Pinterest announced a new Pinterest shopping destination: Your Shop.
It’s a place for people on Pinterest to browse, shop and buy. The best bit? It is completely tailored to every single person’s individual tastes.
‘Your shop’ means that each and every one of us on Pinterest will see a customised shopping surface, with brands and products based on their own activity and preferences. No two are the same.
Pinterest has also announced that they are investing in values-based shopping which means it will be guiding people to brands that share their sense of purpose or interests.
Through the new merchant details feature you can share with your audience your brand values directly on their Pinterest profile. Choose from values like ‘responsibly sourced’ and ‘inclusive’ or list communities that you belong to, such as ‘LGBTQ+ owned’ and more.
Merchant details help you to stand out because of what you stand for. They appeal to shoppers looking to connect with brands that share their perspective. And that connection pays off. Brands with merchant details on their profile are 16% more likely to make a sale.
Scale your product catalogue with the Pinterest API for shopping
We love how easy it is to get your catalogue on Pinterest. With the new API for shopping it will automatically update your catalogue updates.
Having a sale? Your pricing’s already updated on Pinterest. Something goes out of stock? Updated on Pinterest. The Pinterest API for shopping makes it easier and faster to start reaching more shoppers on Pinterest.
From ideas to decisions, with Idea ads
Like other platforms, creating stories are a key part of any brands marketing strategy and with Pinterest these are known as Ideas pins. The aim is to hook people in with immersive, multi-page stories. They’re inspiring, engaging and drive meaningful business results. In fact, people who interact with Idea Pins have a higher conversion rate than other people on Pinterest.
Excitingly, soon, you’ll be able to turn Idea Pins into Idea ads. This will be impactful for helping brands to reach new, wider and eager audiences looking for their next idea to try.
Similar to Instagram Pinterest will be adding new ways to monetise partnerships with creators through the paid partnership tool. Creators can already tag products in their Idea Pins, and disclose a paid partnership. Starting later this year, brands will be able to promote those Pins as Idea ads to celebrate the partnership with a wider audience.
Inspirational environments like Pinterest drive meaningful results. People are seeking your inspiration. They want to find it on Pinterest. And when they do, they’re ready to act on your ideas. With Pinterest being the hub of inspiration for so many, if you are not utilising Pinterest yet, then now is the time to act.