The Point: The ecommerce industry has been so focused on making online purchasing faster, we forgot to make it better. When people slow down, they spend more. 50% more, in fact.1
With all the headlines about ecommerce during the lockdowns, you’d think people loved shopping online. In fact: they do not. Based on our latest research, just 4 in 10 people prefer shopping online to in-store.2
Why? Because shoppers miss browsing. They miss taking their time in stores: considering, looking, enjoying. Four decades of making online shopping fast and the industry forgot to make it… fun.
Speed to transaction isn’t always a good thing. It assumes people don’t actually enjoy shopping, when many do. When you rush people to purchase, you leave money on the table. Our research shows when people spend more time shopping, they also spend more money.
Slow shopping pays off: When people take a week to make a purchase, they spend about 50% more1
Buying is a chore. Shopping is fun.
Think about the last time you really luxuriated in choosing something new. A couch, an outfit, a new piece of tech. Now compare that to the last thing you bought with one-click checkout. Which were you quicker to open when it arrived at your doorstep?
When people slow down to really find what they want, they bring more intention and awareness to the experience. Like the slow food and slow beauty moments, slow shoppers bring intention—and values—with them when they browse. For example the majority of the Gen Z audience says they’d pay more for an eco-friendly product.3
Pinterest is built for slow shopping
The internet may be bad at slow shopping, but Pinterest is great at it. While other sites hurry people to conversion, Pinterest invites them to browse and consider—and buy more. And by the way, when they are ready to convert, it’s just as easy as elsewhere. We make it easy to check out. But the process of getting there doesn’t feel like being herded down the funnel.
Bridging the joy of real-world discovery with the ease of online shopping has become a guiding force for our shopping product strategy. It’s why we invest in things like Lens, which helps you identify cool things you see in the real world and find them on Pinterest. Or Virtual Try On, so you can test what a lipstick shade would look like on YOU, right from your couch.
That’s why consumers are more likely to say they want to shop on Pinterest, compared to social media platforms.2 It’s also why they spend more. When you let people slow down, your profits pick up. Shoppers on Pinterest spend 2x more than shoppers on other platforms, and have an 85% larger basket size.1
Our latest product innovations, like Shopping List (announced this week), encourage the always-on shopper on Pinterest. Shopping List allows Pinners to come back and consider what they’ve already saved by aggregating all of their shoppable product Pins in one place. They can shop slow and consider, but purchase just as quickly as anywhere else when they’re ready.
Meet the shoppers on Pinterest
Shoppers on Pinterest are 40% more likely to say they love shopping, compared to people who don’t use Pinterest.1 They’re also constantly in a shopping mindset, seeking their next great find.
People who slow shop are looking for the right thing—not the first thing. So when they find it, they’ll stick to it. Pinners are open to new brands, and more loyal when they find brands they love.
higher conversion and sales lift4
positive incremental return on ad spend4
There’s magic in the ad mix
People need a place where they can shop their way. Clearly, shopping on Pinterest is filling a void online: We’ve seen a 20x increase in searches for products, and the number of Pinners engaging with shopping surfaces has more than tripled in the past year.4
When brands include shopping ads in their mix on Pinterest, they drive 3x the conversion and sales lift, and twice the positive incremental return on ad spend (ROAS).5
Meet your audience where they enjoy shopping. Give them the space to explore your brand. Deliver cross-category ideas. Account for the value you get from expanding your attribution windows. And remember: their time is your money.
Act on the insights
Shopping on Pinterest is always on. Here’s how to set up shop:
1.
Upload your catalog
Pinterest shoppers are always on the lookout for new products. Make sure yours are discoverable. Use Pinterest Catalogs to turn your entire product catalog into browsable product Pins, all at once.
2.
Install the Pinterest tag
Add the tag to your site to measure conversions and optimize ads for shopping campaigns or retargeting. Consider extending your attribution windows to a couple weeks or more, to capture the shoppers who take more time to convert.
3.
Join the Verified Merchant Program
Pinterest shoppers are seeking brands they can trust. When they find them, they’re more loyal. Joining the Verified Merchant Program will earn you a blue check and let you tap into those loyalty seekers. Plus, it increases the chance that your brand and products will show up across shopping surfaces.
