New research suggests luxury shoppers who specifically go to search, save and shop for their life’s dreams on Pinterest.
The multi-market survey conducted by PA Consulting shows that the consumers that luxury brands care about the most use Pinterest. On Pinterest, the visual search, discovery and shopping platform with 482 million monthly users planning their next projects, consumer brands enhance a positive experience rather than colliding with toxic content found on so many other sites. While the global economic environment remains unstable, the luxury goods market is surging; it’s likely to double in size by 2030 on the strength of Gen Z spending, which is another Pinterest advantage.
Seventy per cent of the Pinterest luxury shoppers audience, defined as global users who have searched or saved one of 60 luxury brands, is under 35 years old. Four out of five are women.
The PA Consulting study revealed actionable data for brands, including how Pinterest drives luxury consumers from ‘discovery to decision to do’—in other words, shoppers can find a large selection of luxury items, decide which ones to purchase and buy them, all on Pinterest. Pinterest’s vibrant audience of engaged luxury shoppers is uniquely valuable to brands in many ways, according to the survey (based on monthly Pinterest users (US weekly Pinterest users)), as well as Pinterest’s internal data.
Pinterest users are more affluent than shoppers on other platforms
A third of luxury shoppers on Pinterest have annual incomes exceeding USD $100,000 and are 35% more likely to crack the six-figure mark than luxury shoppers at other platforms.
Furthermore, they spend 87% more on luxury goods and according to Global Web Index, they are 27% more likely to buy premium products.
Pinterest users are more intentional than shoppers on other platforms
People go to Pinterest with a purpose. Every day, millions of users visit the platform with an intention: to find the right content that will help them to take action on it. Three out of every five luxury shoppers say that they use Pinterest to research luxury brands and products. According to PA Consulting, Pinterest is the number one destination for inspiration when shopping for luxury products.
Pinterest users are more open to luxury brands’ messaging
While ads on social media and video platforms disrupt the user experience, Pinterest ads are seen as solutions that add to every user’s journey and help them to decide. And it shows: three out of five luxury shoppers claim to be open to luxury advertising, and they are 85% more likely to be receptive to this kind of advertising.
Louis Vuitton is finding its ideal audience on Pinterest. They wanted the launch of their colourful new collection in collaboration with the Japanese artist Yayoi Kusama to make a big impression and reach a maximum number of users interested in luxury, fashion and beauty in the UK, France, Germany, Italy and Spain. They launched a video campaign on Pinterest that enabled large-scale awareness through exclusive video placements. With more than 3.5 million users reached in just three days, Louis Vuitton’s campaign achieved strong engagement. This trend was confirmed during the second wave of the campaign, with six million impressions recorded in the French market, at a CPM 50% lower than the vertical benchmark.
Another luxury brand engaging with their core audience on Pinterest is the luxury fashion and cosmetics powerhouse Carolina Herrera, which leveraged the new Premiere Spotlight video ad format to unveil their new Good Girl Maxi Glaze lipstick. This high-impact format, available on the search page and the home feed, helps brands like Carolina Herrera to reach a high-impact audience at scale and is a great starting place to drive users from discovery to decision to do.
Luxury brands around the world have been connecting with their ideal audience on Pinterest: one that is coming to the platform with intent, looking for inspiration to curate ideas and refine their taste for which luxury brands to invest in. With three in five luxury shoppers saying they use Pinterest to research luxury brands and products, these brands have the opportunity to reach this highly engaged audience the moment they form an opinion and make a purchase decision.– Kelly Emanuelli, Head of Luxury, Pinterest
Pinterest users shop the spectrum
Pinterest consumers don’t just shop a lot, they shop intentionally. They search for inspiration, then curate and save the ideas that they find to boards and use tools such as direct links to make their purchase.
A third of luxury shoppers on Pinterest have purchased from the ‘Luxury fashion and leather goods’ category, and they are 34% more likely to do so than people who shop elsewhere.
More than two out of five Pinterest luxury shoppers have purchased from the ‘Luxury watches and jewellery’ category, and they are nearly 75% more likely to do so than shoppers on other platforms.
More than 80% of Pinterest luxury shoppers have purchased from the ‘Luxury beauty’ category, and they are nearly 10% more likely to do so than non-users.
Pinterest users are planners: they mould their futures via luxury goods
Every week, users save over 1.5 billion Pins across more than ten million boards, storing ideas for festive and birthday presents, home renovations, dream holidays, new cars and other ways to build their next-level lives.
Four out of every five users say that Pinterest helps them to plan their future, according to Reach3 Path to purchase research, and they spend money on luxury items to do so.
Pinterest users see themselves in their luxury brands
Compared to luxury shoppers that are not on Pinterest, according to Global Web Index, Pinterest’s luxury users are:
- Nearly 85% more likely to see themselves as trendsetters
- Nearly 30% more likely to buy premium products, and half of them buy luxury items for themselves
Sustainability and eco-friendly values are increasingly important factors in making luxury purchase decisions. In France alone, 64% of respondents to the PA Consulting survey said that they are more likely to be loyal to brands that set sustainable goals.
A valuable destination for luxury brands
Pinterest is a different platform where luxury brands have the unique opportunity to reach an audience of young, intentional aesthetes with high purchasing power to establish a long-term connection to lead them from inspiration to action in a more positive online environment.
More than half of all users consider Pinterest to be a shopping destination. They consider the experience to be personal and joyful. A luxury brand seeking to engage with young, affluent dream curators can find them on Pinterest.