Pinterest is one of the biggest pre-IPO companies with an $US11 billion valuation. Its main appeal is the way it works as a digital bulletin board, where users can “pin” and share photos of things they like, from food and recipes to clothing and shoes.
Because of its photo-centric model, Pinterest has attracted a lot of interest as a potential e-commerce platform. And a recent survey by Millward Brown, charted for us by BI Intelligence, shows why: 32% of active Pinterest users have bought something in a store after seeing it on Pinterest, while more than half of the respondents said Pinterest helps them find products they want to buy. Three-fourths of them said they had visited a retailer or a website after browsing Pinterest.
This explains why there were reports of Pinterest’s plans to add a “Buy” button in February, which would allow users to make direct purchases within its platform. Sooner than later, we may see Pinterest as one of the largest e-commerce platforms.