In 2022, the company’s revenue grew 9% year-over-year revenue to $2.8 billion. Pinterest boasts 450 million global monthly users, which can be attractive for brands looking to catch shoppers’ attention. “We are entirely in it to go help retailers succeed.” “We’re not a retailer we’re not a marketplace, which means we’re not competing with retailers,” he said. Retailers that have brought their catalogs on Pinterest have seen a 90% increase in people saving their products and an over 30% lift in attributed conversions. Ready said that brands that are engaging with shoppers on Pinterest are seeing positive results. And he said that this naturally leads to product sales - that is, of course, if companies advertise and sell products on Pinterst. With social media platforms getting backlash from the psychological impact it has on people, Pinterest is positioning itself as a platform that is focused on positivity. “We want to build a business model for social media that is centered on positivity on helping people build a life they love.” “I don’t think anybody’s set out for social media to be the new Big Tobacco,” Ready said.
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