Although paper catalogues may have lost some steam in the wake of the internet, retailers continue to use them in digital form. With Flipboard recently announcing a catalogue product of its own, and Pinterest continuing to popularise the aggregation model, the medium is doing well.
New figures from analytics group Piqora continue to point in that direction. During the Black Friday/Cyber Monday shopping days, Pinterest reportedly provided retail stores with a huge boost in revenue.
The figures show Pinterest users aren’t just tagging and saving items for pleasure – they want to actually buy them as well. This is the same logic Flipboard used recently when announcing its own catalogue retail product.
For others, then, these statistics show consumers aren’t just using these types of products for sport and enjoy tagging and saving the products they want to purchase Digital businesses need to continue to be aware of these types of networks and use them to their advantage. By ignoring them, they could be missing out on a key source of future revenue.
Subscription journalism continue to grow
The journalism industry has continue to evolve over the past few years by introducing new user-pay models to fund individual writers and brands. Andrew Sullivan’s The Dish has been at the forefront of this trend, also highlighted by the recent decision between All Things Digital to break away from the Wall Street Journal, which is most well known for its editors Kara Swisher and Walt Mossberg.
Now, a new publication run by former Wall Street Journal reporter Jessica Lessin – The Information – has launched, carrying a charge of $US39 per month. The site hopes to not only deliver daily news, but focus on more analytical reporting.
This is yet another example of how publications are relying on the individual personalities of writers to convince users to pay. Although paywalls are still in a state of flux, with some publications having struggled to maintain consistent revenue, the trend towards highlighting personalities with experience in their fields is likely to drive successful growth.
This trend is highlighted by the recent decision of New York Times tech writer David Pogue to leave for Yahoo, which is still attempting to establish its hold in digital media. By focusing on key talent and exclusive content, publications will be able to justify a higher paywall.
For businesses outside the publishing industry, the message is clear – content is important, but personality can matter more. Users will care more about the content if they trust the source, and that source is personalised.