A new survey has shown that TikTok is one of the most attractive options for brands. The survey which was carried out by Adweek, showed that the Chinese-owned short video sharing platform is fast “becoming a significant source of sales for brands.”
According to the outcome of the survey, 15 percent of all adults and 36 percent of Gen Z have made purchases based on TikTok. 49 percent pf TikTok users according to the survey have bought a product after seeing it advertised, promoted, or reviewed at least once on the platform.
As social media companies increasingly make their presence felt in the ecommerce sphere, TikTok’s rise could be encourage competition. For the records, TikTok has not been around for a long time compared to Facebook and Instagram; yet brands find it attractive to take their products to the platform.
Last month, Bloomberg reported that TikTok was planning to add its own in-app shopping feature just like Facebook. The short-form video sharing app owned by ByteDance is already working with brands including streetwear label Hype to test the upcoming feature in Europe. The app is already neck deep with Facebook in terms of features, and the in-app shopping feature could further intensify the existing competition.
TikTok is already working with merchants in markets in the UK on the possibility of selling products directly to millions of users within its app, people familiar with the matter told Bloomberg.
The report adds that the current test is a prelude to a broader launch that will see the shopping feature made available to users globally. For now, only a handful of users can access the shopping feature, while no exact date has been made known as the date for a wider roll out. Though information about the upcoming feature is still sketchy at the moment, a Hype representative has confirmed the test. A screenshot as seen by Bloomberg, showed that the label’s storefront under its TikTok account displays a range of merchandise with product images and prices.
“TikTok has been testing and learning with e-commerce offerings and partnerships, and we are constantly exploring new ways” to add value, the company said in an emailed statement. “We will provide updates as we explore these important avenues for our community of users, creators and brands.”
Everyone wants a piece of the cake when it comes to e-commerce, and TikTok could be the latest to venture into a field that offers so much merchants and buyers. Instagram, Facebook and Pinterest are far ahead in terms of connecting buyers and sellers, but TikTok could offer an even bigger opportunity to users.
