Dive Brief:
Content sharing social media platform Pinterest plans to launch a native video tool in the next few months, the company announced in a blog post on Wednesday.
Fortune reports the tool will initially be geared toward companies and experts that want to create how-to videos on topics like beauty tips or product demonstrations.
Pinterest says its users are twice as likely to watch how-to videos on its site compared to others. The company saw a 60% increase in the number of videos on its platform over the last year.
Dive Insight:
New video capabilities are only one of a series of steps that Pinterest has recently taken to strengthen its e-commerce, but the platform hasn’t yet made itself essential to retailers' social strategies as Facebook and Instagram have.
Of all the social media platforms, Pinterest seems to align most naturally with e-commerce: Its predominantly female user base often uses the platform for shopping inspiration and product discovery. A recent Cowen survey found that 55% of Pinterest users access the site for shopping purposes, far outdistancing Facebook and Instagram at 12% each.
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