Mentions of downloading and using Pinterest have increased by nearly +50% vs. 2019.
In addition, Pinterest edges out more traditional “social” sites when it comes to Consumer Happiness — besting Facebook by more than 20 points.
A lot of this has to do with the underlying use-case for each site. Pinterest doesn’t face similar political hurdles as Facebook, isn’t as reliant on user-generated content like Snapchat, and is actually designed to promote connections between consumers and new brands/products/ideas.
This is critical, because brands (and advertising) are how these social media sites make money.
All of the social media platforms on the scatter plot above are focused on improving “shopability” — and the visual-based nature of platforms like Pinterest and Instagram position these channels well for future growth.
Pinterest has a “shop mode” to allow users to filter only shoppable pins.
Translation: consumers actually ASK to be served ads, and shop them. According to management
, this has increased product searches by 20x since the start of 2020.
LikeFolio data confirms elevated “discovery” on the Pinterest platform. Mentions of discovering a brand or product for purchase on Pinterest has increased by +48% YoY.