With a colossal 553% increase over the last 12 months, shopping on TikTok has undoubtedly reached new heights, as per a study conducted by Bazaarvoice. With every passing day, more and more users are using their smartphones to buy stuff.
To be honest, this massive boost in online purchasing was expected since TikTok has been aggressively pushing its #TikTokMadeMeBuyIt trend.
It’s interesting to note that TikTok’s increase is almost 3x higher than that of Instagram (185%) and Facebook (141%) over the same duration (last 12 months).
However, despite the short-form video platform’s incredible performance, it is still behind Instagram and Facebook in terms of being the most popular platform for visual shopping ventures.
According to Ed Hill (Bazaarvoice’s SVP EMEA), the pandemic has impacted social commerce in a big way. With people spending more time on social media platforms, brands have been smart with their advertisement strategies. Today, brand advertising, user-generated content (UGC), and influencer posts are the most effective means to get people to make purchases.
It’s also worth mentioning that over the same period, Pinterest has witnessed a 180% growth in purchases. For those of you unaware, Pinterest and Shopify announced a partnership not too long ago.
The study also touched on the reasons why consumers are turning to social media channels to buy stuff. Product relevance (47%) was voted as the main reason, followed by the items’ features (41%) and visual content (27%). Pricing (27%) was also touted as one of the key factors.
And last but not least, 56% of consumers noted that they have ditched loyalty and bought things from new brands that they learned about on social media.
Read next: Data shows some interesting insights into the significance of the loyalty of creators on YouTube, and its impact on digital marketing strategy
To be honest, this massive boost in online purchasing was expected since TikTok has been aggressively pushing its #TikTokMadeMeBuyIt trend.
It’s interesting to note that TikTok’s increase is almost 3x higher than that of Instagram (185%) and Facebook (141%) over the same duration (last 12 months).
However, despite the short-form video platform’s incredible performance, it is still behind Instagram and Facebook in terms of being the most popular platform for visual shopping ventures.
According to Ed Hill (Bazaarvoice’s SVP EMEA), the pandemic has impacted social commerce in a big way. With people spending more time on social media platforms, brands have been smart with their advertisement strategies. Today, brand advertising, user-generated content (UGC), and influencer posts are the most effective means to get people to make purchases.
It’s also worth mentioning that over the same period, Pinterest has witnessed a 180% growth in purchases. For those of you unaware, Pinterest and Shopify announced a partnership not too long ago.
The study also touched on the reasons why consumers are turning to social media channels to buy stuff. Product relevance (47%) was voted as the main reason, followed by the items’ features (41%) and visual content (27%). Pricing (27%) was also touted as one of the key factors.
And last but not least, 56% of consumers noted that they have ditched loyalty and bought things from new brands that they learned about on social media.
Read next: Data shows some interesting insights into the significance of the loyalty of creators on YouTube, and its impact on digital marketing strategy
