This means it’s right where it needs to be in terms of holiday shopping as the festive season approaches. Let’s take a look at the company’s report, which is in detail below!
For starters, the popular app added 15M more people in the third quarter of 2024. This took its monthly active user figures to 537M. We must admit that the rise is significant when compared to where it stood in the second quarter where it had just added 4M more users.
We aren’t denying the fact that four million is a small figure, it’s still quite large as when you come to think of it, that many users returning to the platform for more is great. However, 15 million sounds a whole lot better, right?
The last time we saw the app make it big was during the pandemic. When people were forced to work from home and live in quarantine, figures for online shopping rose and many market analysts felt the shift would continue. However, when the pandemic was over, people got back to shopping in stores, and that really impacted this platform.
However, the app did end up recovering and solidified its foundation with more success over time. Still, one key point worth mentioning is how the growth in certain regions like the US and the EU remained still despite them being their key sources of revenue.
As can be witnessed in the charts, Pinterest continues to remain high for revenue generation in the same key regions. But it’s yet to grow potential in other places with more audience and that might affect the advertising potential.
The ad business is still on the rise so that again will help and offer more value shortly. Still, we feel more growth in other parts of the globe would be appreciated. Today, many social media platforms have hit saturation in Western markets. Therefore, these results are not unexpected. It just adds a little more pressure to come up with other opportunities.
When we look at overall revenue figures, Pinterest brought forward a staggering $898M for this quarter and that’s a massive 18% rise YoY. This is proof that sales will continue during Q4. The focus is again on more shopping opportunities and better digital matching.
Try-on options will carry major appeal to a rising figure for users as the focus appears to be on creating more tools. Remember, its goal is to transform into a valuable place where the majority of shoppers may benefit.
Hence, we think that things are definitely going in the right direction after seeing it reach record-high figures during the earnings call for the third quarter this year.
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by Dr. Hura Anwar via Digital Information World
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