For eBay (EBAY) , it's all about the re-pins these days. The e-commerce company is realizing just how big of an opportunity social media represents for online retail, and as a result is ramping up its social game, especially on Pinterest.
"We think social is a huge opportunity," Brad Matthews, Senior Director of Social Commerce & CRM at eBay, said at a panel at Ad:tech NYC on Wednesday. "There are no other marketing channels where you can simultaneously inspire potential new customers to engage with your existing user base at a point in time where they're almost certainly not thinking about your brand and when you do it right you can actually drive meaningful conversations, meaningful sales, and do it at a very ROI positive rate."
Matthews proceeded to single out Pinterest as one of the strongest channels for eBay. He said it was the fastest-growing channel for eBay in terms of driving traffic and sales.
eBay has been struggling to keep up with the growth in the e-commerce industry, with same-store sales growing much more slowly compared to the 15% e-commerce average, according to comScore. In September, eBay's same store sales grew only 1.1% year-over-year, according to ChannelAdvisor. Amazon (AMZN) , by comparison, saw its same store sales grow 19.2% year-over-year.
After spinning off PayPal and its enterprise business, eBay is now focusing on its core marketplace and trying to revive its growth. Social commerce is one of the ways that the company is attempting to do that.