Retail Sales Originating From Pinterest Blew Up Over Thanksgiving Weekend And Cyber Monday
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Based on results from the Thanksgiving holiday weekend and Cyber Monday, Pinterest stands to be the dominant social commerce platform.
On Cyber Monday, sales that came to retailers through Pinterest grew by 260%, according to the marketing and analytics company Piqora. On both Thanksgiving and Black Friday, revenue that came through the social media platform was up 100% as well.
What's even more interesting is that traffic on Pinterest didn't increase on the mentioned days. That means that individual Pinterest users are becoming more and more likely to move from browsing to purchasing.
Finally, Pinterest drives a disproportionate share of e-commerce sales in comparison to its active user base. Pinterest's share of social-generated e-commerce is within a few percentage points of Facebook's, yet the company only has 4% as many monthly active users as Facebook. Together with the Thanksgiving weekend results, this is all the more reason to think that Pinterest has a bright future in social commerce. (Piquora)
In other news...
Twitter is working with U2opia Mobile, a Singapore-based start-up, to offer its micro-blogging service on feature phones. Users will dial in a code in order to receive a a stream of trending topics from Twitter. (Reuters)
Snapchat is raising $54 million according to regulatory filings. Speculation is that the founders are looking to cash-in some of their equity. (Business Insider)
Twitter announced Pearson CEO Marjorie Scardino as its first female board member. In recent months, the company has been criticized for having an all-male board. (SEC)
More than seven out of 10 millennials post or engage with posts about brands on social media. This is further evidence that social platforms are a great place for brands to provide customer service to existing customers and to acquire new customers. (Mediabistro)
Facebook has modified its news feed algorithm to penalize organic posts in hopes that marketers will buy more ads in order to extend their reach. (Ad Age)
Instagram is inviting members of the press to "share a moment with Kevin Systrom and the Instagram team," on December 12th in New York. No word on the purpose of the event, but CNET speculates that the company may unveil a private messaging app. (CNET)
Here are 7 ways that social media marketing is like boxing, from social media veteran Gary Vaynerchuk. (Fast Company)
On December 11, Spotify is expected to announce free mobile access to its music streaming app. The service is currently subscription-based on mobile devices. (TechCrunch)
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