Nordstrom, Target as well as other large chains are putting their hope of attracting more shoppers on social media.
Today retailers are using Pinterest more and more. The social media site allows its users to create group of photos, recipes, articles, videos and other types of images that are named “pins” to attract business to their sites.
Handbags, shoes and other item on Pinterest displayed prominently in Nordstrom stores pointed out with special tags.
In Target, the second largest discounter in the nation is creating party planning collections with top users of Pinterest or the site’s “pinners.”
The recent interest in the site comes as retailers are realizing more and more the vast power in social media to direct business to them.
Retailers have found that while smartphone carrying Americans spend time posting photos and opining online, they can also be encouraged to spend sums of money.
A report this week from Adobe, the software company, states that year over year, the per visit revenue or revenue from steering users to sites through social media sites, brand posts or ads, is 65 cents on Pinterest, 62 cents on Twitter and $1.24 on Facebook.
Pinterest, founded in 2009, is quite new in the social media scene, but the sites unique interface is what sets it apart from others as a tool for marketing for retailer.
Users can bookmark the images they locate on the Internet under different topics they are allowed to create, known as pinning.
When an image is pinned, Pinterest then displays any image that is also associated with the pinned image. This effect is similar putting the image on a bulletin board, and other people can follow the boards of fellow users.
The site is now popular amongst designers, hobbyists, do it yourselfers and vacationers.
For them searching for red shoes for example can turn up pins in the thousands. The site is also addictive to its regular users. Some spend hours looking at the different boards.
Due to this, Pinterest has become the fourth biggest site for social media on the Web, with unique users in March of 2014 of 58.2 million.
Pinterest however could be more valuable than the top 3 as data shows users at Pinterest spend more by following links to website of retailers than do users on Facebook, Twitter or LinkedIn.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.