Pinterest has launched its trends predictor shop in Australia in a bid to engage more brands with its 8 million local monthly users, according to Ipsos Iris figures.
The social media site, which courts more than 482 million users globally, has been ramping up its local offering as it seeks to make everything on the site shoppable.
This strategy, and its growing local user base, has helped attract non-endemic clients such as Mercedes Benz and American Express, in addition to its core base of retail, fashion and homewares brands.
Pinterest Australia and New Zealand managing director Melinda Petrunoff told Mediaweek that the site’s unique position, where 50% of its users arrive ready to shop and openly seek ads, has helped it develop a full-funnel positioning to boost its appeal for brands and marketers.
“Pinterest is completely different to any other social media platform in that people are coming with high commercial intent. They are coming to seek inspiration and they’re coming to take action. That unique full-funnel journey has allowed us to build out a full-funnel advertising solution and we are working with advertisers across the market to be able to tap into that unique user journey.”
“What makes Pinterest so different as a platform is that ads and branded content are actually relevant. The ads are incredibly relevant, and branded content drives strong engagement because it helps our users discover ideas that they’re interested in and take action.
“Half of our users tell us they come to the platform to shop. So it’s a natural behaviour that we’re seeing on the platform. Our intent is to make everything shoppable on Pinterest; we’re meeting consumers where they want, and for advertisers and brands, that means that they can be part of that full funnel journey.
Petrunoff said the site has invested heavily in new ad formats and measurement, as well as building out the lower funnel to ensure its effectiveness. “We’re delivering some of the highest performance results to our partners that we’ve ever seen before. We’re seeing an average of 50% increase in performance outcomes.”
Pinterest Predicts Shop
Pinterest has today (7 December) launched its first local online store to coincide with its annual Pinterest Predicts trends list. The list forecasts the biggest trends based on what its 480 million global users are searching on the site, and it carries an 80% success rate.
The annual Trend Report aims to provide marketers with a guide to the incoming trends to help inform marketing activity for the coming year.
“The report harnesses the power of the predictive trend data that we get through looking at what consumers on our platform are searching and what has an upward trend. It not only lets consumers know what’s going to be trending, but importantly, it helps brands and advertisers understand what’s going to be trending. This is the cheat sheet for marketers and advertisers to start planning their 2024 campaigns and help them stay ahead of the curve, and ensure they are relevant to what consumers are engaging with,” said Petrunoff.
The 2024 trends include: Eclectic Grandpa, Be Jelly, Hot Metals, Jazz Revival, Western Gothic, Blue Beauty and Kitchsens.