People who love using different kinds of social networking sites would know the difference between them. Some would say that Facebook and Messenger are more of connecting with friends and family. Instagram is more about expressing your artistic side and interests, and Twitter is more about expressing thoughts and opinions briefly in limited text characters. It’s a different case and experience for everyone, but many would say that when they want to detoxify from all the negativities but want to use social media, they would often go to Pinterest for peace and quiet. Pinterest is a safe place for most. So, if you are a pinner, you might want to know their latest performance and newest additions.
Travelers and shoppers
Let us start with the travel subject. Pandemic or no pandemic, it will always be a good idea to plan or dream about or travels. And here is what Pinterest is doing about it: partnership with Marriott. Two Soho storefronts will have digital billboards that will highlight Pinterest. Future traveler pinners will answer four in-app questions that will guide them in their dream travels. We can say that Pinterest knows how to make advertisements and pick its allies.
Now, we are on to the next subject, which is shopping. Shopping has never been this modern. Why? You can now shop with augmented reality features using Pinterest. How does this augmented reality works? For instance, you saw a shirt that you like. You can use the Pinterest camera and take a picture to run a visual search for similar shirts. It is not only applicable to fashion items but also a variety of things like home décor. Pinterest also has a feature that lets users try different lipstick shades to suit different skin tones. They can save the pin for reference, or they can directly buy on the brand’s site.
Pinterest also now has a shopping list feature where users can pin products with essential information like price, reviews, or delivery. The pins will be in a grid for easy product comparison.
Let us not forget Pinterest’s live streams to the list. Twenty-one creators have different topics like cooking, design, and more. As the live stream happens, viewers can buy what the creator uses.
The missing piece
Many would not disagree that a “buy now” option would be an excellent feature for Pinterest, especially with the features that we mentioned earlier. It would be a lot less hassle if people can directly buy from the Pinterest app instead of getting redirected to the website where the product is being sold. This would massively and positively impact Pinterest in terms of profits. They can take a portion of the payment for every purchase in the app. This would mean direct user monetization for Pinterest aside from the advertisements.
Looking back on Pinterest’s Q1
Pinterest’s Q1 revenue was $485 million — 78% higher than last year. Monthly active users were 30% more year over year to 478 million. Q1’s GAAP net loss was $22 million, and the adjusted EBITDA was $84 million. Pinterest declined 11% one day after its Q1 report since the company guided for flat US monthly active user growth and mid-teens growth internationally. Analysts expect the revenue to grow at least 105% year over year. Now might be the best time to analyze and think about the Pinterest stock before their Q2 report release.
