Pinterest, a social media outlet, allows users to “pin” pictures of their favorite items onto their pages. One recent report suggests that each of these posts may be worth a tangible sum to retailers.
TechCrunch recently reported, citing exclusive data provided by Piqora, that the average value of a pin on Pinterest is 78 cents in sales, on average, up roughly 25 percent from the comparative figure recorded in the fourth quarter of 2012. The news outlet reports that a pin can help an internet retailer to both drive page views and the number of orders completed at their online credit card payment processing page. Piqora reported to the news outlet that Pinterest posts, on average, are more viral than Twitter posts.
“Martha Stewart was getting 10 times more traffic last year from Pinterest than from Facebook,” Sharad Verma, CEO of Piqora, told TechCrunch. “So obviously there are cases where a publisher or retailer in a visual space like food, fashion or home decor is very likely to be getting way over two site visits [per pin].”
As a result, some retail outlets are more directly connecting their online credit card terminals to Pinterest services. For example, another TechCrunch report announced that Target is testing an e-commerce storefront powered entirely by Pinterest recommendations. The website, known as the Target Awesome Shop, is refreshed and curated with new products daily, based solely upon the amount of pins those products received and the ratings users have given them on Target.com.
Eddie Baeb, communications manager at Target, told the news outlet that the goal was to design a site that could combine the ranking-and-rating options offered by social media websites with a direct line to e-commerce purchasing pages. Pinterest, for example, would not have access to information regarding what products are trending on Target.com – so combining data from the two websites will allow the Awesome Shop to provide visitors with a more carefully curated experience than either organization could offer independently.Back To Blog