Livestream shopping on social media has gained popularity since the COVID-19 pandemic, blending engaging content with an option to purchase products, and indeed many analysts are predicting that 'social commerce' could represent an increasingly-lucrative retail channel as the decade progresses.
With this in mind, GlobalData's Social Media Analytics Platform undertook research among influencers to determine the most-discussed social media app related to shopping, with video-sharing platform TikTok emerging on top, accounting for a 38% share of voice.
Other popular social media applications for shopping include YouTube (27% share of voice), Pinterest (22%), Instagram (7%) and Snapchat (6%).
Gaining An Edge
“TikTok is rapidly executing new features to enhance in-app shopping experience and gain edge over other social channels including YouTube and Instagram," commented Smitarani Tripathy, social media analyst at GlobalData.
"Some of its key initiatives to foray into the marketplace were the launch of e-commerce fulfilment and shipping centres, shopping ad features, and 5G-enabled shopping experience in partnership with Huawei. Meanwhile, the recent announcement of Instagram to rollback its marketplace option from its platform could also boost TikTok as preferred shopping platform."
Read More: Top 5 Social Media Trends For Retailers And FMCG Brands In 2023
TikTok Shop
TikTok's rise to prominence was underpinned by the launch of its e-commerce platform TikTok Shop in the US in November 2022, as a big push towards making its app as a shopping destination.
According to GlobalData, influencers that participated in the study believe that the full checkout process in the TikTok app 'will create interest for more brands to participate in the near term'.
According to one influencer, Olivia Moore, consumer partner at Andreessen Horowitz: “For consumers, TikTok becomes a shopping destination – with a personalised Shop tab and order tracking in-app. Product pages have reviews and info on how many others have ordered the item, as well as a way to enter coupons shared on creator livestreams.”
© 2023 European Supermarket Magazine – your source for the latest Technology news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.
