Pinterest: Where The Big Spenders Shop
I’ll never forget my first pair of Tory Burch boots. One, because they’re my favorite pair of shoes in my closet, and two, I paid for them all on my own. Now, $350 for a pair of boots may not seem like a lot to some of you, but for a poor college student who had been saving up for months, it seemed the equivalent to a down payment on a house.
Every retail site knows that social media is their friend. Social media sites drive traffic based on sheer user numbers, but also from a trust factor. When it comes to clothing, I’m probably going to trust a friend’s recommendation or pin over an ad on the side of my newsfeed.
But not all social media sites are created equal when it comes to driving retail traffic. A recent study from RichRelevance, looked at over 700 million shopping sessions and found that while Facebook still drives the most traffic, Pinterest has one notable plus high-end retailers should pay close attention to.
According to the study, Facebook drives 85.8% of online shopping sessions, Pinterest with 11.3% and Twitter with 2.9%. That being said, the average order from Pinterest referrals was $168.83 compared to Facebook referred orders at $94.7 and Twitter at $70.84.
Another study, by Tamba, reports that Pinterest will account for 40% of social media driven purchases by the end of this year. The study also found that Pinterest buyers are 10% more likely to purchase something and spend 10% more than visitors from other social networks.
Diane Kegley, CMO of RichRelevance said, “Every social network promises a new way of connecting consumers with retailers and brands. However, the big take-away from our research is that not all channels in the social space are created equal.”
That being said, which social platforms are driving your traffic?