Pinterest has published a new report, detailing the value of the app for luxury brands, with accompanying notes on how and why users come to the platform to find luxury products.

The report, conducted in partnership with PA Consulting, looks specifically at engagement with high-end fashion brands, and how Pinterest is helping drive discovery and engagement with this market segment.

As Pinterest explains:

Consumer brands enhance a positive experience rather than running headlong into toxic content found on so many other sites. While the global economic environment continues to be unstable, luxury goods are on the rise; in fact, the segment is expected to more than double by 2030 on the back of Gen Z spending, which is another Pinterest tailwind. "

According to the conclusions, Pinterest has published some new statistics regarding luxury shopping engagement, including:

70% of Pinterest's luxury audience is younger than 35
Four in five in-app luxury shoppers are female
One in three luxury shoppers on Pinterest have incomes over $US100,000 annually
Pinterest users spend 87% more on luxury goods, and 27% are more likely to purchase premium products.
The study also shows that Pinterest is the first port of call for inspiration while in the act of buying luxury products, with three out every five luxury shoppers reporting that they use the platform for discovery and research.

Extended even to ads in the application
"Three in five luxury shoppers claim to be open to luxury advertising and they are 85% more likely to be receptive to this kind of advertising."

That could also create some chance for more directly linkage to an audience proven responsive and receptive, which has come to the app in a shopping mindset.

And in that vein, it will also allow for an opening of more promotion opportunities for those tangential brands and offerings of appeal to this market.

Some interesting considerations either way, which might help to shape your thinking around Pin campaigns over the holidays or into 2024.