Pinterest keen to attract luxury labels via its affluent Gen Z users
Nicola Mira
Pinterest
This is what prompted Louis VuittonYayoi KusamaCarolina HerreraLVMHLa RedouteeBayGuerlain
Pinterest has identified among its users an “audience for luxury,” consisting of individuals from all over the world who have searched for or pinned on their boards at least one of 60 luxury labels. Pinterest did not specify the exact number of these users, simply stating they add up to “a few tens of millions.” It did state that about 80% of the individuals in the cluster are women, and 70% of them are under the age of 35.
“Gen Z [users] currently account for 40% of our global audience, and it’s also a segment that is growing rapidly, their numbers having increased by 22% in one year,” said Kelly Emanuelli, who oversees Pinterest’s luxury business from Paris, speaking to FashionNetwork.com
Among Pinterest users consuming luxury items, one third reportedly has an annual income in excess of $100,000 dollars, according to a PA Consulting survey conducted last spring. These individuals are “more affluent than buyers on other social media,” a feature that Pinterest now intends to exploit.
Curation of ideas
According to the PA survey, three out of five luxury goods buyers said they use Pinterest to search for luxury labels and products. In fact, 60% of them said they are open to Pinterest ads if they refer to luxury items. Most importantly, 85% of them stated that they would be receptive to these adverts.
“Our advertisement streams are considered additional, and non-intrusive, because our business model is based on curating ideas,” said Emanuelli. Here again, Pinterest differs from other social media, while ad rejection is prompting Facebook, Instagram
Art, fashion, home decoration, beauty and travel are Pinterest’s five main content categories. Labels have the possibility of publishing their entire product catalogue, with one-click referrals to product pages on their websites and e-shops. These links can also be pinned on the custom boards that users can create through the Shuffles app, recently deployed by Pinterest.
Another reason Pinterest can put forward to attract brands is that, according to a Reach3 study conducted last year in 10 countries, nearly 80% of users employ Pinterest to prep future purchases. Making it a strategic priority for luxury labels to have a presence on Pinterest, whose quality audience is its main argument to capture advertisers.
