Revenue from Pinterest Tripled on Cyber Monday
Is Pinterest the most valuable social network in e-commerce?
Not only did a recent Piqora study find that pins generate 78 cents in sales on average, but new data from the social marketing and analytics platform shows that Pinterest was a major revenue generator for retailers over Thanksgiving weekend. In fact, after analyzing 400 brands on the network, Piqora found that revenue generated from Pinterest increased by two times over Thanksgiving and Black Friday. Plus, on Cyber Monday, revenues from Pinterest more than tripled.
This data is even more impressive considering that traffic numbers on the social network remained unchanged over the holiday weekend. The data should be welcomed news to Pinterest and brands alike, as it proves that consumers aren’t going to the social network just to discover items, but to purchase them as well. Piqora also notes in a blog post that since pins have a long half-life of more than 2.5 months, brands who actively pinned in the weeks leading up to Cyber Monday were the most likely to see the benefits.
“Retailers who had optimized their website for pinning before and during the month of November had their catalog on Pinner’s boards waiting to be bought,” Piqora states in a blog post. “Both pinning actively as well as optimizing the website for pinning contributes towards higher share of a retailer’s catalog on Pinterest. The higher the share of pins, the more clicks and ultimately, more revenue.”