More and more shoppers are turning to social media platforms such as TikTok to discover trendy deals. Rather than going directly to Amazon, shoppers turn to TikTok to find the best deals.
TikTok & Amazon Prime Day
This year, TikTok videos tagged with #primeday2022 and related hashtags were viewed 52 million times (Marketplace Pulse). In 2021 there were 30 million Prime Day views, and in 2020 there were 6 million views.
TikTok’s algorithm is great at delivering highly personalized content to each user. Also, influencers and users sharing product deals with other users is the purest form of social proof.
According to Bloomberg, the average TikTok user in the U.S. spends around 29 hours per month on the app, more than Facebook (16 hours) and Instagram (8 hours) combined.
TikTok plans to grow its e-commerce gross merchandise volume (GMV) to $2 billion this year and $23 billion in 2023 (Bloomberg).
What do you think TikTok’s effect will have on eCommerce in the future? Does TikTok pose a threat to established platforms like Facebook and Google?