Aishwarya Shetty, MBA’s Post

According to Pinterest's CEO Bill Ready, "More than half of our users view Pinterest as a place to shop." Yet, while #shoppers may use #Pinterest and #socialmedia for #inspiration, the number that #checkout on the #platforms remains low. According to the PYMNTS Intelligence report, “Tracking the Digital Payments Takeover: Monetizing Social Media”, only 1.1% of #consumers made purchases on Pinterest, below the 2.6% that did so on TikTok, 3.4% on YouTube, 4.6% on Instagram and 7.3% on #Facebook." #meta #ecommerce #socialshopping #socialcommerce #tiktok #instagram #youtube https://lnkd.in/gkuB8ER4

Have you heard the news!? Amazon's recent partnerships with Meta (formerly Facebook) and Snap to enhance its social commerce efforts. Here are the key takeaways: Partnerships with Meta and Snap: Amazon has collaborated with both Meta and Snap to enable in-app shopping experiences on popular social platforms. Users on these platforms can now directly purchase Amazon products through ads. The partnerships involve real-time features such as pricing, delivery estimates, product details, and Prime eligibility displayed on the ads. Targeting Younger Audiences: Amazon aims to tap into the user bases of Meta and Snap, particularly younger millennials and Gen Z users. By doing so, Amazon hopes to reach customers who may not have considered its products during their usual online shopping experiences. Exposure to New Audiences: By integrating with social media platforms, Amazon seeks to showcase its products to a broader audience. These collaborations provide an opportunity for Amazon to expand its reach and present its products to consumers who may not have been part of its traditional customer base. Challenges in Social Apps: The article notes that Amazon has been facing challenges in making its social apps as engaging for shopping as other platforms like Instagram and TikTok. Despite having a TikTok-like shopping feed, Amazon has been working to enhance the shopping experience on its social apps. Snap's Advertising Business Boost: The partnership with Snap is not only advantageous for Amazon but also beneficial for Snap's advertising business. Snap has faced difficulties in recent years, and this collaboration is seen as a way to strengthen its position in the competitive advertising landscape. Financial Impact: Following the announcement of the partnership with Snap, Snap's shares experienced a significant increase of over 9%. This indicates positive investor sentiment and suggests that the collaboration is viewed favorably in terms of its potential impact on both companies. Strategic Commitment to Social Commerce: These partnerships underscore Amazon's commitment to compete in the social commerce space. Amazon is actively seeking to establish a presence in the social media realm, similar to Instagram and TikTok, to remain competitive in the evolving landscape of e-commerce. Mutual Benefits: The collaborations are mutually beneficial, strengthening both Amazon's and Snap's positions. Amazon gains access to new audiences and social commerce channels, while Snap benefits from the boost to its advertising business. In summary, the partnerships with Meta and Snap represent significant steps for Amazon in intensifying its social commerce initiatives and expanding its influence on popular social media platforms. These collaborations open up new possibilities for both companies in the competitive landscape of e-commerce and digital advertising. #SocialCommerce #AmazonPartnerships #EcommerceTrends #DigitalAdvertising

Pinterest Reports Steady Growth in Users and Revenue in Q3

#GenZ ✨ is a generation that engages heavily in #doomscrolling 🤯 or obsessive phone use that ultimately creates unwanted spiraling 🌀 based on excessive searching and reading online. They’re also 32% more likely to purchase something at least once a day online 💻.     On top of these habits, whether healthy or unhealthy (totally up to the individual), 85% of Gen-Zers say social media impacts their purchase behaviors 🛍 . But who’s to say these social channels can’t operate as their own shoppable platforms?    According to an article from Bloomberg last week (https://lnkd.in/e57trKuF), Pinterest’s revenue beat its estimates in response to its push to convert users into shoppers through its app 📈 . (ICYMI: Pinterest and Amazon recently teamed up for an advertising partnership that would enable its users to more easily shop through the site and purchase things they pin on their boards 📌.) In the current quarter, Pinterest reported monthly users and revenue increased 8% Y-o-Y. Interest in shoppable posts jumped by 50% in Q2 as well 😱.   Although #shoppablecontent isn’t new, especially as we’ve seen tremendous growth 💰 from the likes of Meta, TikTok (ByteDance) and YouTube, the way users are shopping has changed. Sam's Club recently announced that customers can now add products to their online carts 🛒 directly from its Member Access Platform (or MAP) retail media network which uses AI technology to target specific display ads to consumers based on their shopping habits at the retailer. Roku Inc. also debuted its alliance with Shopify 🤝 for shoppable content which enables users to use their own remote controls to learn more about products they see on screen and purchase directly through their TVs 📺 without additional browsing.     The only way for these platforms to make shopping more seamless would be if they offered the opportunity to 3D print products through our screens. Only time will tell... ⏳   What developments are you most excited about in the world of shoppable content? Let us know below ⬇. Beanstalk’s #CulturalIntelligence stays #OneStepAhead. Stay tuned for weekly insights about what’s hot 🔥 across industry, consumer and product segments.     Want to learn about what’s trending and how to leverage those trends for your business? Reach out to Todd Kaufman ([email protected]) or Whitney Rosenfeld ([email protected]) to learn more about how you could get started with bespoke trend reports. 

My annual plea not to sleep on Pinterest. Too many creators, brands, and publishers are ignoring this opportunity. They're massive. Nearly 1 billion monthly visits. It's the 'feel good' social network. 80% of visitors say it makes them feel 'positive'. 85% of weekly visitors say they bought something from a pin. Other platforms are fighting for user generated content to drive transactions. Pinterest is already there. And these shoppers spend 2x as much time on Pinterest than any other social network per session. They cater to a Western audience. Nearly 44% US. 76% women. It's not for old people. 23 million Gen Z users. They did a huge deal this year with Amazon ads. And 97% of searches aren't branded, so users are looking for an item but don't know exactly what they want. They have 5 billion monthly searches. Amazing for discovery. And, perhaps most importantly, it's cross-platform. You can use your board to promote your YouTube videos, TikTok videos, Instagram posts, and Tweets. Brands, publishers, and creators - if you haven't looked at Pinterest recently, time to revisit. #pinterest #creatoreconomy #socialmedia https://lnkd.in/epShCn_f

Pinterest: User Boom, But Revenue Reality Check 📈 Big user growth, but is it enough? ⁉️ Pinterest just released its Q1 2024 results, and there's a mixed bag of news. On the bright side, they smashed user growth targets, reaching a whopping 518 million monthly active users. That's a 12% increase year-over-year. However, there's a catch. While users are exploding globally, most of this growth is coming from regions with lower revenue potential. The US market, Pinterest's cash cow, saw minimal growth. This means their user base is expanding, but not necessarily translating to more dollars. Revenue growth is slowing. While they brought in $740 million this quarter, the vast majority came from the US and Europe, with international markets contributing very little. Even in Europe, a bright spot with good relative growth, overall revenue growth is slowing down. Costs are on the rise. Pinterest is spending more on sales and marketing, which could be a good investment for future growth, but it's unclear if their recent advertising push was truly effective. CEO Bill Ready is bullish, highlighting strong user and revenue growth and crediting their development efforts. But some might be less enthusiastic about the numbers. Here's the good news for users and advertisers: More users means more opportunities to reach target customers. Pinterest users are in a shopping mindset, and new features like body type matching for search can make finding products easier. Pinterest is growing, but whether they can translate user growth into sustainable revenue growth remains to be seen. Follow Shyamol Konwar for more market insights like this one. Source - Social Media Today

Yesterday was the 12-week anniversary of TikTok Shop Total revenue the last 7 days: $333 MILLION $78M came from the U.S. - the top 2 categories were beauty & fashion Categories driven by emotion, trends, & peer-to-peer recommendations Yesterday across LinkedIn, there were many posting about the end of TikTok Because Pew's recent study of just 1,453 13-17 year olds said YouTube was their #1 platform I wouldn't call the end just yet lol, this is a small (to put it mildly) subset of the global 8B strong population I think time spent is a better metric since we live in the attention economy... TikTok crushes all our platforms in this metric (& commerce) TikTok: 33H 38M Youtube: 27H 26M (Source: Exploding Topics) No one else comes close But consider this: 40% of Gen Z girls spend 3 hrs a day / 84 hrs a month on TikTok….. And 20% spend 5 hours a day / 140 hrs a month This is how out of nowhere $78M in a week leaves our economy Also Temu is now attracting longer engagement times than Amazon It's Apple’s most downloaded free app in the U.S. for 2023 per TechCrunch Chinese apps have taken over spots previously held by our tech giants like Meta & Google, as CapCut & TikTok ranked #3 & 5 for 2023 Attention is the name of the game And China knows how to get & monetize it Today's Business of Fashion headline: "Can AI Predict What Shoppers Will Buy?" No... b/c when a generation grows up joining real time trends that peak at 14 days, past sales are meaningless Predicting purchase intent requires understanding what drives their discovery first And that requires getting to know individuals, not personas and certainly not 6 months before demand The commerce explosion is being fueled by creators attuned to digital native's wavelength Legacy brands still chasing historical data are losing before the race even begins Because of a lethal combination of myopia, arrogance, and constipated buying practices, America isn't mobilizing fast enough to remain competitive We are witnessing an unprecedented fundamental change in the character of retail, and our window of opportunity to ensure that we maintain an enduring competitive advantage is closing This in the same week that Alibaba Group released DreaMoving: Human Video Generation, to instantly produce high-quality customized human videos from text or image Now creators will be able to mobilize their content even more in real time and at scale - just yesterday a news channel posted content where everyone in the clip was AI-generated and there was no way to detect it... Over $330M in TikTok Shop in a week alone signals the scale of disruption already underway Time and attention are the new strategic imperatives defined by creators dynamically reacting to real-time trends, emotion, and peer insights And at this pace, the future belongs to those moving at the speed of contemporary culture #thegreatfashionreset #genz #creatoreconomy #communitycommerce #contentistheproduct #tiktokisthestore

The major news last week was that for the first time, Facebook & Instagram app users (initially just some in the US) will be able to check out on Amazon without leaving the social media apps. Tambo’s Managing Director Jake Hewlett explains more. This agreement follows on from Amazon agreeing a multi-year partnership with Pinterest in April this year. Pinterest has already seen a sizeable revenue boost from this integration and clearly investors like the sound of Meta following suit with its share price up 13% and Amazon's up 4% over the past 5 days. On paper this is a partnership that should be a win win for all involved. Here are some of the reasons why: 📱Win for Meta: Ever since Apple's IOS privacy changes in 2021, Meta has been struggling to achieve the same level of accurate user targeting, as it has faced reduced addressability. This partnership should enable them to utilise Amazon shopper data to improve the ad relevancy for the consumer and importantly, drive better results for advertisers. Additionally, as this is an integration between two walled gardens, it won't breach data privacy requirements, offering a very smart solution to the tracking challenges posed by Apple's changes. As TikTok also continues to ramp up it's own social commerce offering, this is a very timely agreement which will enable Meta to more than hold it's own in this fast-growing space. 🛒Win for Amazon: With Amazon continuing to accelerate product development around clean rooms, this looks like a brilliant play. Its own AWS clean room solution will be able to offer (we assume) data collaboration between Amazon shopper data and Meta's advertising user data, significantly boosting addressability & personalisation benefits for advertisers and publishers alike. Of course, it should also result in a major boost to its sales revenue too. 🛍️Win for the Consumer: Seamless integration between Instagram, Facebook & Amazon offering a far smoother in-app shopping experience. It should also ensure advertising is more relevant for the shopper too, all whilst ensuring the privacy of the user is protected. 🎯Win (we hope) for the Advertiser: More relevant advertising on Meta AND on Amazon, as we envisage that the data sharing will benefit advertising relevancy for both advertising platforms. The only watch out is whether this cannibalises traffic to the brands' own DTC, as more shoppers choose to go direct to Amazon rather than to the brands' own website. Tambo will be investigating this over the coming weeks to understand how we can advise our clients on how best to prepare for this integration rolling out more broadly & help ensure they are able to leverage its benefits.