Pinterest is a social network that operates like an online pin-board. And it’s on the up: in Q4 2011, Pinterest’s traffic increased by 429%. So what’s going on and why should anyone care about another social network?

In combining the principles of social bookmarking with the technological wonder that is a corkboard, Pinterest allows users to create profiles that are virtual pin-boards of the different images that they’ve discovered, earmarked and uploaded. Where Pinterest really impresses is aesthetically. It looks great – imagine a good looking digg. It also has full Facebook and Twitter integration: even boasting its own Facebook timeline app, that allows users to share seamlessly. The downside is that if you wanna get in on the act, you’ll have to wait – it’s currently invite only.

Interestingly, up to 80% of its users are women, according to Ignite Social Media. The site is most popular among 25-34 olds, followed by 35-to-44-year-olds. Gizmodo called it as Tumblr for ladies. As a result, female focused retailers in the US have spotted an opportunity. The likes of Modcloth, West Elm and HGTV are filling up Pinterest with products that customers can ogle, share and purchare. As a result, Pinterest is becoming an important traffic driver, as seen in the infographic, below from tech-marketing and conversion experts Monetate.