How Brands and Retailers Can Make the Most Out of Pinterest’s Predictions
Navigating the rapid trend cycle can be challenging, but add a dose of inflation and it gets even harder — making it so much harder for brands and retailers to predict the next big consumer craze. Nonetheless, Pinterest has potentially streamlined this process by introducing “Pinterest Predicts” — a collection of anticipated trends set to […]
The post How Brands and Retailers Can Make the Most Out of Pinterest’s Predictions first appeared on PYMNTS.com.
Navigating the rapid trend cycle can be challenging, but add a dose of inflation and it gets even harder — making it so much harder for brands and retailers to predict the next big consumer craze.
Nonetheless, Pinterest has potentially streamlined this process by introducing “Pinterest Predicts” — a collection of anticipated trends set to gain momentum in the upcoming year. The latest report was released Dec. 6.
By analyzing popular search terms on its platform, the social media company offers insights into what is becoming popular as the new year approaches. The 2023 edition of the list anticipates emerging trends in areas such as fashion, beauty, wellness and home decor.
For brands and retailers, strategic planning is the cornerstone of success.
Pinterest Predicts provides insights that act as a road map for adjusting product offerings, marketing strategies, and inventory planning. Armed with this foresight, businesses can align their operations with consumer interest.
Consumer Sentiment
According to PYMNTS, consumer sentiment surged in December, increasing 13% compared to the previous month and up 16% from a year ago.
This turnaround nullified declines in the preceding four months, as indicated by the preliminary results from the University of Michigan Surveys of Consumers released on Dec. 8.
Joanne Hsu, director of surveys of consumers, said sentiment has risen by about 39% from the record low in June 2022. However, it still remains below pre-pandemic levels.
Hsu credited the increase in consumer sentiment to improved expectations for inflation.
Read more: Consumer Sentiment Soars With Expectation of Lower Inflation
Pinterest Predicts boasts about an 80% success rate. In the previous year, Pinterest also accurately anticipated the surge in the “skinification” of haircare, a trend that dominated 2023.
2024 Predictions
With a surge of 190% in searches for terms such as “bow outfit” and 180% for “bow necklace,” 2024 will witness a phenomenon of bows.
In men’s fashion, Pinterest has observed the rise of “eclectic grandpa,” particularly among Gen Z and boomers. According to the report, they will adopt grandpacore and introduce unconventional and expressive elements to their wardrobes across the ages. This nostalgic style incorporates retro basics and layered cardigans in colors reminiscent of the ’70s, and experienced a 130% increase in exploration.
An appreciation for vintage extends to upcycling trends, indicating a consumer inclination to engage in creative activities, exploring not only secondhand clothing but also secondhand materials.
Similar to the DIY trend of the 2010s, “give a scrap” appears to be the coming fashion project for both boomers and Gen Xers. Searches such as “zero waste sewing patterns” and “leftover fabric” have increased by 80%, reflecting consumers’ attraction to sustainability.
Beauty is another popular category on Pinterest. Reflecting the emphasis on “self-care” in beauty and lifestyle products, “head to glow” is anticipated to capture widespread interest, with people shifting away from intricate skincare routines to invest more in bodycare.
The report describes how both boomers and Gen Zers will focus more on luxury lotions and at-home spa experiences, evidenced by an 845% increase in the search term “bodycare” and a 1,025% rise in “body skin care routine.”
The post How Brands and Retailers Can Make the Most Out of Pinterest’s Predictions first appeared on PYMNTS.com.