Latin America, pinned by Pinterest
After creating a lot of Buzz in US and Europe, with the growth rate for visitors that has been in the double, triple and quadruple digits, the social network is working its magic in Latin America. According to a comScore report, Pinterest’s local audience grew eightfold since the beginning of the year, with 1.3 million Latin Americans users in April.
Pinterest is a content sharing service that allows members to “pin” images, videos and other objects to their pinboard. At first, social networking was used by women living in the American Midwest but with the impressive popularity it is attracting, determined the businesses to look at it as a marketing potential. Just to name one, Better Homes &Gardens has 101.276 Pinterest Followers and only 24,894 on Twitter.
Mid-June Alejandro Fosk, comScore vice president of Latin America revealed that “not only does nearly 100% of the Latin America Internet population visit social networking destinations each month, but they also spend a lot of time on the sites”. More than 127 million Latin Americans aged15 and older visited a social networking destination from home or work computer in April 2012. Fosk predicts that "social networking will register strong market growth due to the change in dynamics among the leading players and the emergence of new social sites that make it an especially interesting market to watch right now”.
In this context, Fosk underlines that the content sharing center may be a recent entrant, but it is definitely a name to follow in Latin America: ”Even though Pinterest currently reaches just 1% of the regional audience, its impressive growth since the beginning of the year suggests it could quickly become a key player in Latin America’s vibrant social scene.” A geographic analysis of the audience found that Brazil accounted for 27.8 percent of regional visitors to Pinterest.com, followed by Mexico (16.1 percent) and Argentina (10.2 percent). In terms of engagement, Puerto Rico is the leader with an average of 24.3 minutes on the site during April, followed by Argentina (15.3 minutes per visitor) and Mexico (12.1 minutes per visitor).
As for the audience, more than half of Latin American visitors to Pinterest were female (57.2 percent), with women accounting for 62.5 percent of all page views and 65.2 percent of time spent on the site. One in three visitors was between the ages of 25-34, while another 28 percent was age 15-24.
Social networks have been performing really well across Latin American: Facebook has 114.5 million vistors, Twitter 27million and Tumbl’s counts 7.2million Latin American visitors. With such a large number of users, is Pinterest going to be a key player in Latin America?