It wasn’t too long ago that many were predicting the demise of Pinterest.
Even Business Insider was bearish on the social media platform, citing a report by AppData, which showed a massive decline in Pinterest users. At one point in 2012 Pinterest lost more than a quarter of its active users in a single month. Here’s a chart from that post:
The recovery was also financial – in March this year it closed a funding round valuing it north of $US11 billion, placing it in the upper echelons of Silicon Valley.
Here’s a nice visual of Pinterest’s recovery. This is the amount of Google searches for Pinterest in the past 10 years:
But this is more than a good news story for Pinterest; it has repercussions over the entire ecommerce sphere.
The reason? The way Pinterest users use the service – to shop.
According to online shopping tool Shopify, 93% of Pinterest users use it to plan purchases, more than two million products are “pinned” every day, and the average value of sales from Pinterest is $US50.
So as the holiday season approaches, 100 million Pinterest users is music to a great many shopkeepers’ ears.
Business Insider Emails & Alerts
Site highlights each day to your inbox.