Pinterest entered the live broadcast e-commerce, and the transformation path of "American Little Red Book"

2022-11-21
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Author:Shi Yi
Source: 36kr

On October 29 local time, Pinterest announced the launch of Pinterest TV, which was introduced into live broadcast e-commerce. Pinterest TV includes a series of live broadcasts in food, home furnishing, fashion, beauty and other fields. It will be broadcast on Pinterest's iOS App from November 8. The first lineup includes Olympic diving champion Tom Daley, the winner of "Skybridge Pride", American fashion designer Christian Siriano, etc. The audience can ask questions and interact in the process, and get discounts from relevant brands.

Pinterest is a photo sharing and discovery website established in 2010. According to the data in July 2021, there are 478 million monthly active users, of which about 60% are women. Pinterest ranks 14th in the global ranking of active social media users, lower than Kwai (481 million) and higher than Twitter (397 million).

Pinterest takes "looking for inspiration" as its main feature, calling users "Pinners", and picture sharing on the website "Pins". When submitting the IPO prospectus in 2019, Pinterest defined that it was not a social media, nor a search or e-commerce tool, but a "rich media utility" to achieve visual discovery.

It's only one step from getting inspiration to deciding to buy. Pinterest has investigated Zhou's active users. 90% said they would use Pinterest to help them make shopping choices, and 72% said they were motivated by Pinterest when they didn't want to shop.EMarketer reportIt also shows that 47% of American Pinterest users use Pinterest to find or buy products, which is far higher than 11% of Instagram and 15% of Facebook. Accordingly, Pinterest also continues to increase shopping related functions and strengthen the attributes of social e-commerce. According to eMarketer data, the number of American shoppers on Pinterest increased by 30.5% in 2020, reaching 12 million, and is expected to reach 13.9 million in 2021.

At that time, more and more light generation users turned to video platforms such as TikTok. Pinterest, which started with picture sharing, is trying not to become a pioneer on the beach, just like Instagram. Pinterest's revenue in the second quarter of this year increased by 125% year on year to $613 million, but its monthly activity declined. Pinterest explained that users experienced abnormal growth during the epidemic, and people spent more time socializing after the epidemic eased, thus reducing interaction on the platform.

Pinterest TV is one of the latest initiatives of Pinterest to embrace the trend of video and live broadcast e-commerce. In October, Pinterest launched the "Watch" video portal, "Idea Pins", "Takes" and other video functions, and invested 20 million dollars to encourage creators to create. In addition, it invited Malik Ducard, VP of YouTube content cooperation, to serve as the first content director. At present, the revenue sharing details of Pinterest TV have not been disclosed, and the extent to which Pinterest's video function can help creators realize remains to be seen.

At the end of October, some media reported that PayPal would purchase Pinterest at a price of $70 per share and a total price of $39 billion, which was later denied by PayPal.

Article | Shi Yi

Editor | Zhao Xiaochun

Figure | Pinterest

Overseas Pinterest enters the live broadcast e-commerce, and the transformation of "American version of Little Red Book"

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