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How Pinterest has affected Retail. How. By Cjay and E- Smizzle. Has Affected Retail By Cody Jordan and Emma Smith. About Pinterest. Pinterest is a visual discovery tool that people use to collect ideas for their different projects and interests.

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how pinterest has affected retail

How Pinterest has affected Retail


By Cjay and E-Smizzle

Has Affected Retail

By Cody Jordan and Emma Smith

about pinterest
About Pinterest
  • Pinterest is a visual discovery tool that people use to collect ideas for their different projects and interests.
  • People create and share collections (boards) of visual bookmarks (Pins)
  • Allows users to plan trips and projects, organize events, save articles and recipes.
  • Mission Statement: “Our mission is not to keep you online, it’s to get you offline. Pinterest should inspire you to go out and do the things you love.
  • Developed in December 2009
  • Launched in March 2010, only founders could use it
    • Closed beta: Potential users needed an invite to join
  • 9 months after launch, site had 10,000 users
  • In 2011, Time listed Pinterest as one of the 50 best websites of the year
  • In 2012, Pinterest opened website up for anybody to join
  • iPhone app launched in 2013
  • In December 2011, became one of Top 10 largest social media services, with 11,000,000 total visits per week
  • In 2013, company was valued at $3.8 billion
  • Created by Ben Silbermann, Paul Sciarra, Evan Sharp.
  • Prior to Pinterest, Silbermann worked at Google.
    • Silbermann and Sciarra met each other at Yale, where they began designing iPhone apps together
    • After initial app “Tote” failed to gain traction, they teamed up with Evan Sharp
    • Evan Sharp created layout of pins
how pinterest works
How Pinterest works
  • Pinners range from the everyday person to CEOs
  • Women compose around 3/4 of Pinterest users
    • 50% have kids
  • Largest age demographic is 24-35 year olds
  • People find pictures by searching categories or by looking at what their friends/followers have pinned
    • Users can repin others posts to their own board for others to see
  • By pinning a picture to your board, everyone who follows you can see it.
  • Different categories of boards
  • Allows people to see a wide variety of pictures
great for retailers
Great for retailers
  • Not originally intended for retail
    • Meant as an online playground
  • Focuses on discovery
    • Great way to spread…
      • Product/Brand Awareness
      • Brand Equity
      • Customer Retention
    • Ultimately, users should focus on it’s e-commerce & sales potential
  • Allows users to be social while keeping some privacy
    • Compared to Facebook or Twitter
  • Pinterest allows businesses to sign up an account
e ffect on retail
Effect on Retail
  • By 2012, ¼ of Pinterest users had purchased an item after discovering it on Pinterest
    • 1/3 of people under age 35 did this
  • Pinterest helps spark purchasing decision
    • Showcasing as much info about products as possible.
  • Among online shoppers using Pinterest, 70% say they use it to get inspiration on what to buy
    • Compared to 17% of Facebook users
  • 75% of use occurs on mobile
    • Increasing use of Mcommerce
  • NEW: Promoted pins—top brands are using Pinterest to advertise
    • Company can have “promoted posts” show up in users category feeds
      • Ex) Banana Republic, Gap, Old Navy, Target, Walt Disney Parks and Resorts, etc.
strengths opportunities
Strengths & Opportunities
  • Pinterest can spark imagination, inspiration, word of mouth and potentially purchases
  • Great way to share products with friends
  • Compare products
  • Channel surfing
  • Great for small businesses
    • Benefits: Increased traffic, insights, connections, inspiration, recruitment
  • Has potential to improve consumer experiences
  • Expanding the demographics
weaknesses threats
Weaknesses & Threats
  • Pinterest is an online playground—it’s not a shopping marketplace
  • Doesn’t help retailers create meaningful engagement with local communities of consumers or drive shopping traffic into the local retail store
  • Not designed to track local sales, make shopping lists or interact with your friends about shopping in a meaningful way
  • Not designed to follow the customer throughout the shopping journey—discovery, decision and execution
  • Doesn’t fully appeal to male consumers yet
work cited
Work Cited