July 8, 2022
TikTok started off as a unique platform where users showcased their dancing and dubbing talents. But now it has transformed into a powerful platform that can influence sales. TikTok can drive shopping trends and inspire sales through influencers.
In August 2021, TikTok introduced the TikTok Shopping feature to promote products and streamline in-app selling by e-commerce businesses.
According to TikTok, it is a “suite of solutions, features, and tools that give businesses the opportunity to tap into the power of commerce on TikTok.”
- Over 1 billion monthly active users on TikTok
- TikTok is 7x more likely to be used as a product discovery tool
- TikTok users are 5x more likely to immediately buy what they discovered
- 92% of users take action (like, share, follow the brand, or research or buy a product) after watching a TikTok
- Consumer spending on TikTok increased by 77%, from $1.3 billion in 2020 to $2.3 billion in 2021
- #TikTokMadeMeBuyIt has been used 15.6 billion times till date
TikTok announced a partnership with Shopify, the leading e-commerce platform in late October 2021. Shopify sales on its social commerce channels, including TikTok, Facebook, Instagram, Snapchat and Pinterest, grew 76 percent from February 2020 to February 2021.
According to Satish Kanwar, VP of Product at Shopify, “TikTok is one of the world’s fastest-growing entertainment platforms with over 100 million highly engaged users in the U.S. alone.”
- Shopify merchants can connect their TikTok accounts
- Get access to new audiences
- Promote their products with content giving users the authentic TikTok experience
- Sell products on TikTok via in-feed shoppable video ads
- Manage content and track analytics through the Shopify dashboard
- TikTok's infinite loop empowers brands and consumers together
- TikTok's infinite loop brings commerce that entertains
- And is fueled by community's desire to constantly learn and discover something new
- The infinite loop accelerates through the community's willingness to buy something immediately after discovery
- Hugo Boss x Khaby Lame (top TikTok influencer, 145 million followers)
- Hollister x Charli D’ Amelio (143 million followers)
According to the New York Times, “It’s a platform that never pretended to be anything but a machine for producing and monetizing virality, and it has never been shy about telling us what it wants us to do next. What do we stand to lose, anyway, if it becomes a mall? The best of the rest of TikTok feels fleeting even as we enjoy it — that was always part of the fun.”
Ultimately, it’s certainly going to be a platform that transforms the end-to-end shopping experience by making it more entertaining and organic!
Credit: Anyaa Mittal
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