Pinterest & Social Media Paying Off for Many Retailers #Pinned
The impact of social media on retailers’ sales is now more significant than ever. CNBC reported Friday that according to a new report from Experian Marketing Services, social media sites in March accounted for 7.72 percent of traffic to retail websites. That’s up from about 6.6 percent the prior year. Shoppers are visiting sites like YouTube (NASDAQ:GOOG), Facebook (NYSE:NYSE:FB), and Twitter (NYSE:TWTR) before getting directed to the retailers’ online stores, and there are also some relatively new players in the game that are racking up the highest percentage of traffic to retailers’ sites of all. Veterans like Facebook and YouTube are still drive significant percentages at 5.3 and 3.8 percent, respectively, but CNBC also highlighted the case of Pinterest, the visual discovery tool that boasted a 10.9 percent traffic rate according to March reports. Twitter had the lowest percentage with 2.8 percent.
Pinterest does well in the social shopping sphere because consumers often visit the site for fashion and food ideas, and then are directed to the site that sells what others have “pinned.” For example, Pinterest addicts can easily pin the Macy’s (NYSE:M) dress they are saving up for, or the practical pots and pan set they want but don’t need, and then other consumers can see those pins and access the products directly on retailers’ sites. That racks up traffic percentages for Pinterest, and paints it as the perfect vehicle for retailers to boost sales. Bill Tancer, general manager of global research for Experian Marketing Services, explained via CNBC, “While search still dominates, social media is becoming a significant source of traffic across the Internet as consumers increasingly use sites like Facebook, Pinterest, or YouTube more as discovery platforms.”