Pinterest is a social networking site with a visually pleasing “virtual pinboard” interface, where users collect photos and link to products they love, creating their own pinboards and following the pinboards of other people whom they find interesting.
Pinterest has emerged as the runaway social media hit of early 2012 that achieved 10 mln. US monthly unique visitors faster than any independent site in history. It has now over 10.4 mln. registered users, the majority of whom are female mothers in the 25-34 age group spending on average 15 min. on Pinterest vs. Facebook- 12 mins. A typical Pinterest user will use mobile apps more often than average Internet users, will have visited Disney World in the past year and had a drink in the past month.
Interesting Fact: One of the most recent additions to the social networking site was Michelle Obama, who as of 9am this Wednesday had close to 200 followers that grew to more than 22,000 on Friday, but was only following one other account-the president’s.
The 2 year-old site, which is currently valued at 1.5 bln, was recently deemed as one of the fastest growing in history and only 9% of the top online retailers are offering Pinterest pins on their sites. I wonder why. There doesn’t seem to be a downside to adding a Pinterest pin and it will expose the retailers’ items to a larger audience. At the end of the day a picture is worth a thousand words. Having the ability to pin it and repin it is even more powerful.
Are companies too slow in adopting new social media sites or they just don’t see a future for Pinterest?