PA Consulting revealed data that brands can use in new study
New research conducted by PA Consulting was carried out in several markets and shows that the most relevant consumers for luxury brands are on Pinterest.
The study points out that, by having a presence on Pinterest, brands generate a positive experience, avoiding conflicts with toxic content found on many other sites.
The PA Consulting study also revealed data that brands can use, including how Pinterest takes luxury consumers from “discovery to purchasing decision.” In other words, shoppers find a wide selection of luxury items, decide which ones to buy, and buy them all on Pinterest.
Purchasing power
PA Consulting reveals that a third of luxury buyers on Pinterest have annual incomes above $100,000 and are 35% more likely to exceed that amount than those on other platforms. Additionally, these people spend 87% more on luxury goods and, according to the Global Web Index, are 27% more likely to purchase premium products.
Goals
Every day, millions of users access the platform with one intention: to find the right content that will help them carry out an action. Three in five luxury shoppers say they use Pinterest to research luxury brands and products. According to PA Consulting, Pinterest is the first place people look for inspiration to buy luxury items.
Message from luxury brands
Ads on social networks and video platforms tend to interrupt the user experience, but on Pinterest, they are considered solutions that complement each person’s journey and help them make decisions. And this is reflected in the numbers: 3 in 5 luxury buyers say they are open to advertising for luxury products, and they are 85% more likely to be receptive to this type of advertising.
“Luxury brands from around the world are connecting with their ideal audience on Pinterest: people who come to the platform with purpose, seeking inspiration to create ideas and hone their preferences for worthwhile luxury brands. As three in every five luxury buyers say they use Pinterest to research brands and products in this niche, these brands have the opportunity to reach a highly engaged audience at the exact moment they form an opinion and decide to make a purchase,” said Kelly Emanuelli, director of luxury at Pinterest
Shopping
Pinterest consumers not only buy a lot, they also buy intentionally. They look for inspiration, then organize and save the ideas they find in folders and use tools like direct links to make a purchase.
A third of luxury shoppers on Pinterest have purchased products from the “Luxury Fashion & Leather Goods” category. They are 34% more likely to do this than people who shop elsewhere.
More than 2 in 5 luxury shoppers on Pinterest have purchased products from the “Luxury Watches & Jewelry” category. They are almost 75% more likely to do this than buyers on other platforms.
More than 80% of luxury shoppers on Pinterest have purchased products from the “Luxury Beauty” category. They are almost 10% more likely to do this than those who do not use the platform.
Plans
Pinterest users like to make plans. Every week, users save more than 1.5 billion Pins to more than 10 million boards, saving ideas for holiday and birthday gifts, home improvements, dream vacations, new cars, and other ways to live a better life. .
Sustainability
Sustainability and ecological values are increasingly important factors when making luxury purchasing decisions. In France alone, 64% of respondents to the PA Consulting survey said they are more likely to be loyal to brands that set sustainable goals.
Shopping destination
More than half of all users consider Pinterest a shopping destination. Furthermore, they consider the experience to be personalized and pleasurable.
Pinterest is a different platform where luxury brands have the unique opportunity to reach an audience of young people with purpose, a taste for beauty and high purchasing power to establish a long-term connection and take them from inspiration to action in a more positive online environment .
