For the fourth consecutive year, Pinterest has been harnessing its wealth of user data to pinpoint and highlight the top consumer trends anticipated for the upcoming year across various categories, from home decor to food and beverage, and beauty.
As a primary platform visited by users to plan for future moments, Pinterest possesses a unique perspective on what consumers are likely to seek and purchase in the near future. To commemorate the release of its 2024 predictions report, Pinterest is launching its inaugural pop-up store in NYC, where customers can explore and purchase the significant trends of 2024 identified by the platform.
With 482 million monthly active users turning to Pinterest for inspiration for future plans, whether it's recipes, wedding decor, or fashion tips, the visual platform precisely understands what will be trending based on search terms, saved pins, and more. "Ultimately, people come to Pinterest to dream and plan future moments. This planning mindset enables Pinterest to help brands understand what is trending, through a meaningful and measurable shift in consumer behavior that is only expected to grow in the future," shares Sydney Stanback, Global Trends and Insights Lead at Pinterest. Users don't visit the platform to passively scroll and distract themselves but to actively feed their inspiration and get into planning mode, leading to very concrete purchase intent.
This planning and future shopping mindset has made Pinterest a source of valuable insights for brands, which are increasingly active on the platform through advertising and shoppable pins. Indeed, more than 50% of Pinterest users consider it a place to shop, and there has also been a 50% increase in user clicks and saves on shoppable pins. To capitalize on this behavior, Pinterest has launched its first pop-up store in NYC to both showcase its predicted trends for 2024 and offer a curation of products related to these trends. For those not in New York, Pinterest has also created a feed, the Pinterest Predicts Shop, where consumers can also shop trending items through an online store. This first physical pop-up location is a testament to Pinterest's ambition to showcase its ability to legitimately predict trends across a range of categories and to monetize on this capability, while also hinting at its ambition to become a relevant shopping destination.
The immersive shop is set to last five days and feature dozens of products tied to the 23 trends identified by Pinterest, from jellyfish-inspired home decor to heightened café culture, blue beauty, and 'eclectic grandpa' fashion inspiration.
With 80% of trends predicted last year coming true in 2023, this is a meaningful source of insights for brands and advertisers. As emphasized by Stacy Malone, Vice President of Global Marketing at Pinterest,
"advertisers need to keep up with cultural trends, and it is often hard to know what will actually be trending next. Pinterest is here to provide insights into clear purchase intent."."
Pinterest is not the first media platform leveraging physical retail to interact with consumers: last year, Spotify opened its 'Wrapped Café,' a four-day pop-up space in Paris to celebrate its annual 'Spotify Wrapped' marketing activation. The event brought together Spotify users and artists in an immersive café where visitors could control the venue's playlist, create personalized tee-shirts, and play wrapped-inspired arcade games.
This initiative builds on Spotify's analysis of the listening behavior of 456 million users, sharing at the end of each year their listening style and most played songs. Tapping into their active users' behavior, Pinterest and Spotify are strong examples of companies that utilize user data to create insightful, valuable stories for both brands and consumers. Today, Spotify has transformed a marketing campaign into a yearly event consumers look forward to and reshare with excitement, while Pinterest is facilitating curated purchases directly linked with users' search for inspiration, demonstrating that when used well, data can prove extremely resourceful.
