With eCommerce on the rise due to the COVID pandemic, Pinterest now has 442 million monthly active users. The platform’s Q3 2020 Earnings Report showed a global increase 0f 37% in engagement and 58% in revenues.
In January 2020, Pinterest only has 367 million monthly active users. It has increased to 416 million in April 2020 and reaches 442 million in September 2020. The influx accounts for users ages 25 and below. Pinterest notes that lockdowns and social distancing have contributed to such growth. But the platform is positive that this will continue as the world bounces back to normal.
Pinterest is also continuously updating its features and tools to help brands in their eCommerce shift. Recently, it rolled out content recommendations, Shop tabs, and shopping spotlights. These updates can give a big boost to Pinterest marketing.
Implications for Marketers:
With Pinterest seeing a steady increase in its user growth, marketers should consider shifting their campaigns into Pinterest content. Shop tabs and shopping spotlights can work like Facebook Shops and Shop Catalogs. Using them in Pinterest marketing has the potential of converting browsers into buyers.