By 2022, TikTok is expected to reach 1.8 billion active users, making it the world’s sixth most popular social media platform. Over 1 billion videos are watched every day on TikTok. The platform is most popular with Gen Z but is finding massive success across all ages.
There’s a lot to see and explore on this platform, and one can find everything from cute animal videos, latest fashion trends, travel tips, and product reviews to activists spreading the word on crucial causes.
TikTok is aimed at keeping its viewers stuck to their screens, watching short videos on subjects that interest them. The platform uses an algorithm that makes sure that it gives its viewers the type of content they want to see. The more you use the application, the better it knows what interests you and, therefore, what content to show you.
Back to the initial question. Does TikTok influence consumers’ buying behavior? The answer is a strong YES! TikTok is increasingly becoming a top platform for consumers to discover and purchase new products.
A recent global study aimed at identifying TikTok’s role in the retail consumer journey found that TikTok is a crucial part of the consumers’ path to purchase. The study also found that TikTok is translating outside the platform, reshaping traditional purchasing methods, and driving scale sales.
Here are some key findings to ponder:
As a user
– 49% of users say TikTok is a source for discovering something new
– 44% of daily TikTok users want branded content to be fun
As a consumer – pre-purchase
– Users spend 14% more when TikTok is part of the purchase journey
– 37% of users discovered something on TikTok and immediately went to buy it.
– 35% of TikTok users buy something they see on the platform.
– 44% of TikTok users discover products from videos posted by a brand.
– 44% of TikTok users discover products through ads in their feed.
– 38% of TikTok users interacted with a video posted by a brand while actively doing product research.
– 24% of TikTok users interacted with ads in their feed while actively researching a product.
As a consumer – post-purchase
– 1 in 5 users make how-to or tutorial videos on TikTok.
– 1 in 4 users have posted and tagged a brand.
– 1 in 4 users created a post showing off a product they bought.
– 1 in 4 users commented on a post by a brand.
– 1 in 5 users DM a brand.
– 1 in 4 users followed a brand.
The next obvious question one would want to address is how marketers should use TikTok as part of their marketing campaigns. The answer? In our next blog.