Over the years, Pinterest has been a network for ideas and inspiration. Today, it focuses on shifting to a full eCommerce discovery platform. It has expanded its Shopify partnership to 27 countries. It has also launched the B2B ad campaigns, and creator code funding. All these new features and tools showed Pinterest’s effort to join the eCommerce bandwagon. Today, Pinterest releases its Q1 Report with 478 monthly active users (MAU).
From 459 million to 478 million MAU, Pinterest posts a strong revenue report in the 1st quarter of 2021. Its membership grows by 30%. The momentum of such growth shows a decrease compared to the last quarter of 2020 (37%). But still, it’s a significant movement compared to LinkedIn, Twitter, and Reddit. Pinterest also reports revenue growth of 78% standing at $485 million. The platform credited such revenue growth from its international businesses. The expansion of eCommerce to international markets has boosted the demand for small and mid-size advertising. This is where Pinterest mainly focuses.
Pinterest releases its Q1 Report with 478 monthly active users on 27 April 2021.
Implications for Marketers:
Pinterest’s Q1 Report shows a strong result and further supports its shift into a digital shopping platform. For marketers, it is worth taking a moment to test the wonders of AR try-on, dynamic ads, and Story pins. Brands can also check out what competitors are doing to compare what might work for the business.