In a saturated and chaotic global market, what inspiring space are luxury brands using to find engaged buyers? Results from a multi-market survey conducted by PA Consulting show that consumers searching for luxury brands use Pinterest. On the visual search, discovery and shopping platform where 482 million monthly users plan their next projects, brands deliver a positive experience instead of competing with toxic content on many other sites.
While the global economic outlook remains uncertain, the luxury goods market is growing and is likely to double by 2030 thanks to Gen Z spending. 75% of the luxury product audience on Pinterest (global users who searched or saved Pins from any of the 60 luxury brands), is younger than 35 years. Four out of five are women.
The PA Consulting study found useful data for brands, such as how Pinterest guides luxury consumers from “discovery to action.” In other words, shoppers can find a wide selection of luxury items, decide which ones they want to buy, and buy them all in the same place. Pinterest’s audience of luxury shoppers is a unique asset for brands in many ways. Here are some of the conclusions based on the study and Pinterest’s internal data:
Pinterest users have greater purchasing power
Pinterest users have more purchasing power than shoppers on other platforms
A third of people who buy luxury items on Pinterest have done so Annual income over 100,000 US dollars (91,000 euros) and are 35% more likely to meet and exceed this number than buyers on other platforms. Additionally, they spend 87% more on luxury products and are 27% more likely to purchase premium products, according to the Global Web Index.
Users come to Pinterest with a higher purchase intent
People come to Pinterest with a specific goal. Every day, millions of users visit the platform with one intention: to find the right content to help them trade. Three in five luxury shoppers say they use Pinterest to research luxury brands and products.. According to PA Consulting, Pinterest is the number one source of inspiration when buying luxury products.
Pinterest users are more open to receiving messages from luxury brands
While ads on social media and video platforms disrupt the user experience, ads on Pinterest are solutions that improve each user’s journey and help them make decisions. And you can see it: Three in five luxury goods shoppers say they agree to receive advertising from these brands and are 85% more likely to respond to these ads.
Louis Vuitton You can find your ideal target group on Pinterest. The brand wanted to launch its new and colorful collection together with Japanese artist Yayoi Kusama to make a great impression and reach the maximum number of users interested in luxury, fashion and beauty items in Spain, UK, France, Germany and Italy are of interest. For this purpose, a video campaign was launched on Pinterest, which enabled widespread brand awareness through exclusive video placements. With a reach of more than 3.5 million users in just three days, the Louis Vuitton campaign achieved solid engagement. This trend was confirmed in the second phase of the campaign, which recorded 6 million impressions in the French market, with a CPM 50% lower than the vertical market reference.
Another company that connected with its most loyal audience on Pinterest is the famous luxury fashion and beauty products brand. Carolina Herrera. The brand used the new Premiere Spotlight video format to launch its new Good Girl Maxi Glaze lipstick in Spain. Available on the search page and home feed, this powerful format helps brands like Carolina Herrera reach impactful audiences at scale and is an ideal starting point for moving users from discovery to action.
“Across the world, luxury brands are connecting with their ideal audience on Pinterest: people who visit the platform with intention and seek inspiration to curate ideas and decide 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 engaged audience as they form their opinions and make a purchasing decision. Purchases“. – Kelly Emanuelli, Director of Luxury Brands at Pinterest.
Pinterest users buy the full spectrum
On Pinterest, consumers don’t just shop a lot, they shop with intent. They look for inspiration, curate and save the ideas they find in forums, and use tools like direct links to make purchases.
- A third of luxury shoppers on Pinterest shopped in the Luxury Fashion & Leather category and are 34% more likely to do so than people who shop on other platforms.
- More than two in five people who search for luxury items on Pinterest shopped in the “Luxury Watches and Jewelry” category, and they are nearly 75% more likely to do so than those who shop on other platforms.
- More than 80% of luxury shoppers on Pinterest purchased from the Luxury Beauty category and are almost 10% more likely to do so than non-users.
Pinterest users plan: shape their future through luxury products
According to a study, users save more than 1.5 billion Pins on more than 10 million boards every week, collecting ideas for Christmas or birthday gifts, home renovations, dream vacations, new cars and other ways to take their lives to the next level Reach, four out of five users say Pinterest helps them plan their future and helps them spend money on luxury items.
Pinterest users see themselves reflected in their luxury brands
According to Global Web Index, compared to people who buy luxury products outside of Pinterest, those who buy on the platform are:
- They are 85% more likely to look like this Trendsetter.
- They are almost 30% more likely to buy premium products and half of them buy luxury items for themselves.
The values of sustainability and respect for the environment are increasingly important factors when purchasing decisions for luxury products. In France alone, 64% of PA Consulting survey participants said they were more likely to stay loyal to brands with sustainable goals.