It’s clear the retail industry during the pandemic has undergone a huge shift. According to mobile data and analytics company, App Annie, traditional retailers, e-commerce providers and mobile-first companies have one central thread: the mobile app is key to shopping and fulfillment in our new normal.
E-commerce-focused brands, like Amazon, have done extremely well, given that many consumers are choosing to forgo entering physical stores. Some big-box retailers have adapted to the need for fast, free shipping, using their physical presence as an advantage for more same-day delivery options.
>>>Download and read App Annie’s latest interactive report – The State of Mobile 2021 (an in-depth analyses from 11 industries and 30 markets) here. <<<
Mobile shopping has also opened the door for other industry disruptors: including social commerce. Research estimates show that social commerce and live shopping could present a $2 trillion market globally by 2024.
Pinterest under the spotlight:
- Pinterest saw significant growth with 193 million global downloads in 2020, up 50% year over year — driven by an acceleration of consumers leveraging the platform for product discovery, design inspiration and shopping.
- As consumers spent more time at home this year, Pinterest expanded its global footprint in 2020, ranking in the top 10 breakout social apps by average monthly active users in LATAM, North America, Asia-Pacific and EMEAR.
- Success of the app has also continued into 2021, seeing an additional 33 million downloads in January and February alone.
- In an effort to capitalize on the growth of social commerce, Pinterest released a number of new features in 2020, including a new ‘shop’ tab and number of merchant tools to help retailers reach customers. Retailers have also taken to the app in recognition of its growing popularity.
- In the UK, Pinterest was ranked at #5 for breakout social apps by monthly average users in 2020.
The acceleration of online shopping during the pandemic has heightened the need for high quality, contextual and visually browseable shopping experiences that replicate how it feels to discover great products in-store or while window shopping. As distributed commerce unlocks seamless shopping experiences, we’ll continue our work to make every item on Pinterest shoppable.
Dan Lurie, Head of Shopping Product, Pinterest