Could Pinterest be the Social Network of 2021?
The trend of use is female since the topics in trend are almost always fashion beauty and lifestyle. Although the platform has recently been opening up to the male world, the majority still remain female.
Pinterest recently released its latest performance report, recording a significant increase in revenue and steady growth in overall usage. In the fourth quarter of 2020 alone, 17 million users were added, bringing the total to 459 million active. It is worth noting that growth is apparently stalled in the US, monthly Pinterest usage in the US has increased 11% year-on-year, while internationally the platform has grown by 46% over the same period.
In terms of revenue, Pinterest earned $ 706 million in the fourth quarter, a 76% year-over-year increase over the fourth quarter of 2019. This is a strong result, which underscores Pinterest's growing connection to e-Commerce, which saw a huge increase in 2020.
Pinterest still has a long way to go to adequately monetize its international audience, indicating an ongoing opportunity for all. The overall increase in ARPU (average revenue per user) is also positive, but Pinterest will probably have to try to increase its appeal in order to maximize its opportunities.
Use is simple and intuitive: once you have created an account, you can easily find fascinating boards to fill the feed. Most accounts have multiple boards, so following an account means automatically following all of its boards. You can also choose to follow specific boards.
Among the key additions of the period was the introduction of a new "Shop" tab on company profiles, along with better product labeling, while Pinterest is also boarded the Stories train with Story Pin. A lot of users, especially younger ones, are used to the full-screen vertical feed; it therefore makes sense that more platforms follow the trend and add the Stories option.
Both product tagging and Stories format Pins are set to gain more attention in 2021, thanks to the ability to buy products directly from Pin.
Photo credit - depositphotos .com Pinterest numbers underline the growth of e-Commerce in a broader way, while also consolidating the position of this social network within the change. And while its growth in the US was unchanged for the quarter, the increased earning opportunities and connection to online shopping keep the platform in good shape for further development and opportunity.
Faced with this premise, no it is excluded that, in a short time, Pinterest will be able to kick off an ecosystem of creators to add even more content and quality to enrich the life of the Pinners.
