TikTok’s really pushing for in-stream commerce to be a key element, so much so that this particular element is already a core part of its future growth strategy, with the platform currently seeing big success with its on-platform buying options in Mainland China. Integrating eCommerce, via shopping displays, live streams, tie-in promotions, etc., also gives TikTok another means to enable effective monetization so that creators get paid for their efforts.
Evolving Commerce
As TikTok notes, it already sees eCommerce as a key element:
“eCcommerce is no longer the future of shopping – it is shopping. In this new landscape, brands must keep up with consumers’ ever-changing online shopping behaviors – and TikTok is at the forefront of this new era.”
To provide additional perspective on this, TikTok has shared a couple of new insights into how its users view in-stream buying and how such trends help shape the app’s evolution. These couldn’t have come at a more opportune time, seeing as how the holidays are coming up.
If you’re looking for the full infographic, you can check it out here. Meanwhile, for everyone’s convenience, we’ll be plastering the most notable key points down below. Let’s begin.
TikTok says that shoppers are 2x more likely to make a day-of purchase online over traditional retail. Compared to online marketplace shoppers, social commerce shoppers are 1.2x more likely to buy a product and are 1.3x more likely to buy to uplift their mood. We’re initially greeted by some positive stats that allude to the fact that TikTok is also becoming an influential platform when it comes to product purchases, just like Pinterest before it.
Another section highlights the impacts of TikTok as being a major part of each customer’s e-journey, which includes:
- Users are 51% more likely to discover products from an ad.
- Users are 76% more likely to view a trending brand/Hashtag while considering a purchase.
- Users are 87% more likely to watch a LIVE while considering a purchase.
- 48% of TikTok users are interested in buying on or from TikTok in the next three months.
- The platform currently sports a 61% eCommerce engagement rate.
The last section is a compilation of statistics that describe why TikTok users are more open to buying directly from TikTok, which opens up a lot of opportunities for seasonal marketers looking to make spikes in their charts during the holidays.
The Wrap
Expect more facts and figures like these to come in the deeper we get into the season. As noted, TikTok is keen on making eCommerce a key element of its growth. As such, it’s bound to insert eCommerce opportunities where it can, playing more into its current ultimate goal of facilitating strong live-shopping behaviors in Western markets. Can TikTok pull it off? Perhaps. Though still uncertain as of now, TikTok is at least making headway, albeit gradually.
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