Tiktok Has Released A Global Research Study To Understand How TikTok Plays Into The Retail Consumer Journey.
Within their study, TikTok have investigated each stage of the buying process to work out how the app contributes to customer buying habits.
The most influential finding from the study is that TikTok’s retail path to purchase is an infinite loop rather than being linear. This means that buyers are included in every part of the process and may interact with ads for a product long after they have purchased the product.
“Today’s consumers rarely go from the top to the bottom of the traditional funnel to make a purchase. They often enter, exit, and re-enter at different stages of the purchase journey based on their needs and wants.”
10 Major TikTok Stats About Making Sales on the Platform
Here are the top TikTok stats from the study that everyone who wants to sell on the app should know:
- 84% of TikTok users say it’s a source for discovering or learning something new
- TikTok users are 1.5x more likely to immediately buy something they discovered on the platform
- Compared to other platforms, TikTok is 1.7x more likely to be used as a product discovery tool
- TikTok users are 1.4x more likely than other platform users to research products and brands they find on the app
- TikTok users are 1.4x more likely than other platform users to buy a product they find on the app
- TikTok users are 1.5x more likely than other platform users to convince a friend or family member to buy a product they’ve seen on the app
- TikTok users are 2.4x more likely than other platform users to create a post and tag a brand after buying a product
- Compared to other platforms, TikTok users are more than twice as likely to comment or DM a brand after making a purchase
- 39% of TikTok users say “lifting spirits” is a key factor when deciding to purchase a product
- TikTok users are 1.3x more likely than users of other platforms to feel excited after purchases
Overall from these stats we can see that TikTok ranks much higher than a lot of others in terms of conversions and product discoverability. If there is hype created surrounding a product the likelihood of that product selling out are very high. TikTok has created a ‘need’ marketplace where users feel as though they need to add hyped up products into their lives to live better.
But success doesn’t come overnight. Building up a community that trusts you and wants to interact with your content is essential. As well as this sharing ways to use your product and using your channel as a hub for all people interested in your product can really help.
We believe that TikTok is truly the future and businesses considering marketing on the app should definitely take the chance.
Finally, for our previous #SocialShort, click here.