Pinterest and other social networks are changing the way retailers stock merchandise, with some stores changing the way they buy and display goods based on social media trends. High-end retailer Nordstrom is a notable example of this trend, as the store is now testing some of the most popular products on Pinterest. If the tests are successful, other retailers could start using social networks to give consumers a say in what items are stocked in their favorite stores.
Ashley Lutz of "Business Insider" says Nordstrom is using Pinterest to determine which items are popular among consumers. Although Nordstrom has had a relationship with Pinterest for several years, this is a completely new way of doing business. The retailer will be using popular Pinterest items to allow customers to take the lead in identifying products that may be of interest to other shoppers. Nordstrom is currently testing some Pinterest picks in thirteen of its physical locations, making it the first retail store to use this approach. Shoppers will recognize the Pinterest picks by their red tags and P logos.
This product test meshes well with Nordstrom's other Pinterest marketing efforts. The retailer already features popular Pinterest products on its own website, and Nordstrom has a Pin It button for every product it sells online. Store employees even have access to an app that helps them match popular Pinterest products with items in Nordstrom's current inventory. Featuring popular Pinterest items in stores will bring the digital experience into the company's brick-and-mortar locations, giving consumers a real voice in the retail marketplace. The most popular categories are dresses and women's accessories.
Nordstrom plans to end its Pinterest test in July, just before the company's anniversary sale. Executives will review feedback from employees and shoppers before deciding how to proceed, but it is likely that the retailer will expand the test to other locations to see how people in different markets will respond. This test has exciting implications for the retail industry, as it could change the way retailers use social media to market products and attract new shoppers. The results could also change the way retailers gather data and leverage it to improve their marketing efforts. Nordstrom's test demonstrates the importance of engaging consumers online, as the 4.5 million people who follow the retailer on Pinterest are a captive audience for new product announcements and marketing promotions.
Retail professionals should monitor the results of Nordstrom's Pinterest experiment as it could change the way retailers choose the products they promote. The popularity of Pinterest shows retailers they cannot afford to ignore social media in their marketing efforts, as consumers want to influence fashion trends and change the way retailers select new products. Nordstrom is way ahead of many retailers in this respect, but other companies must address this trend if they want to remain competitive.
(Photo courtesy of freedigitalphotos.net)
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