The Value of a Pinterest Pin
How much is your Pinterest pin worth? According to a study conducted by former Google engineers, one pin generates roughly 78 cents in sales – a drastic 25 percent increase from its dollar value in 2012. Although the photo-sharing platform lacks elements of a fully-functioning e-commerce site, it hasn’t restricted the website’s ability to generate profit for online retailers.
With numbers on a continual rise, Pinterest’s success in the online sales generation has seemingly just begun. According to Business Insider, Pinterest’s percentage of global social-mediated online sales rose from 2 percent in 2012 to 23 percent in the second quarter in 2013.
Pinterest stands out among other sales-generating platforms like Twitter and Facebook because of its “pinboard” style. By pinning, users are given the opportunity to create a wish list of items they can revisit and rediscover at any time. According to Fashionista.com, this coveted feature has resulted in 50% of online orders being placed two and a half months or more after the initial pin.
Various online retailers are taking initiatives to profit from the success of Pinterest. Brands are including “Pin It” buttons on their product pages and more pins are now leading to pages where the pinned product can be purchased. Shopping through Pinterest is also more efficient. Instead of pulling up five different clothing sites like one typically does in an online shopping splurge, a pinner can complete all of their shopping through one site.
Even with this feature, searching for a specific item via Pinterest can pose a challenge. For this reason, the site may be best for discovering products you did not realize you wanted. Still, Pinterest is not an outlet that brands should be ignoring as profit potential still exists.
Isabel Marant x H&M Collection – SOLD OUT
Surprise, surprise – much of the highly-anticipated Isabel Marant x H&M collection is already sold out. After the collection’s official launch on Thursday, most online pieces were gone in a matter of minutes.
Fret not die-hard fashionistas, a solution exists. To remedy this unfortunate situation, retail merchandiser Vaunte has offered select pieces from the coveted collection for sale at retail-appropriate prices on its website. Members of the Vaunte Crew were in line early at a New York City location to grab pieces for themselves as well as extra merchandise for the fashionistas who were unable to snag an item online or in stores.
Buying limited-supply, high-demand products with the intent to resell has unfortunately become a theme that is all-too-familiar. Just the mere thought brings back a personal episode of déjà vu concerning the virtually unobtainable tickets to Hannah Montana’s Best of Both Worlds 2008 tour.
Sigh, back to reality.
Regardless of Vaunte’s reselling ventures, the site’s supply has nearly depleted as well. For shoppers who simply cannot wait for the collection’s supply to be replenished – assuming restocking is even in the cards – they will need to fork over the items they are selling on EBay for outrageous prices.
The collection’s sellout was predicted to an extent, but did this prediction motivate H&M to purposely offer a limited supply of the collection pieces following the official launch? Although unfair and manipulative to consumers, it is a business move that appears likely in today’s money-hungry society.
Planned or not, the sellout has surely increased hype for the Isabel Marant x H&M collection and future demand if H&M does plan to refill its stock. In the meantime, we can either hopelessly gaze at the collection on H&M’s website or frantically surf EBay in hopes of stumbling across a decently-priced item from the collection.