Pinterest, the platform described by CEO Ben Silbermann as a “catalogue of ideas” that inspires users to “go out and do that thing” has evolved into a trend prediction platform.
Launched in the US in 2010 the social media site has, in comparison to platforms Facebook and Instagram, struggled to develop as a commercial retail platform, despite garnering over 175 million daily users.
Media outlets and retailers are, however, now fully realising the benefits of Pinterest as a customer insight tool and not just a sales one. It’s a move that sees the power shift between consumers and retailers move increasingly in consumer favour, with users’ daily pins no longer just capturing trends but informing them.
Published every December Pinterest 100 captures the top 100 biggest trends based on the activity of its subscribers. Style, beauty and home decor are just some of the categories covered, with analysts looking for topics that showed critical mass, grew at least 50% in 2017 and trended up towards the end of the year. You can view 2018’s top trends to try here.
Such is the credibility of the predictions, leading influential media outlets are using the platform as a source for new season forecasting features, the very articles that influence our buying behaviour for the year. Coveteur, WhoWhatWear, the Daily Mail. Metro and Instyle are just a handful of those that have run over recent weeks.
In a world where data is gold, it’s no surprise Pinterest plan to further build on the predictions. This year the platform will launch Audience Insights, a subscriber based tool that will afford businesses the opportunity to take a deeper look at its audience and how it engages. The tool will be available to US business accounts early in the year and is expected to roll out to follow.
With traffic to Pinterest having increased significantly over the last six months, the platform’s potential to inform new product development and business marketing strategies is only set to grow.
The use of the platform by media outlets as a source for seasonal trend features isn’t new but it is gathering momentum. Where trends were once dictated by designers and magazine publishers, consumers are increasingly the ones to watch.