TikTok has seen shopping on its platform skyrocket 553 per cent during the pandemic as ‘social commerce’ becomes the next major battleground for retailers.
According to new data from Bazaarvoice, social media platforms including TikTok, Facebook and Instagram have all seen the number of purchases made through their platforms grow exponentially over the past year.
While TikTok thundered ahead of its rivals, Instagram and Facebook still saw shopping grow 189 per cent and 160 per cent during the period respectively.
All three platforms have launched a raft of new features specifically designed to streamline both selling and buying practices through their platforms over the past 12 months.
Instagram’s early push into social commerce, having launched its Shopping feature in 2018, has paid off seeing 64 per cent of respondents admit shopping with the platform last year, followed by 45 per cent for Facebook and 24 per cent for TikTok.
READ MORE: 10 Years of Instagram: from photography to shopping, how one of the world’s biggest social media apps has become an online mall
However, Bazaarvoice says there is significant untapped potential available in these platforms which it says have become the first port of call for shoppers looking to discover products, with 70 per cent of shoppers stating they have used social media to purchase a new brand last year.
“Since video content first took off a few years ago, its use in e-commerce is no longer just an option but a necessity,” Bazaarvoice’s senior vice president Ed Hill told Charged.
“No matter what social media platform you use, video content is king in 2021. The inclusion of shoppable videos on social media now needs to be a key feature in brand and retailer marketing strategies.
“TikTok’s recent launch of in-app shopping will not only drive conversion with users but be an encouragement for brands to invest in advertising spend – a win-win for any social media platform. The brands that succeed in the coming decade will be the ones that take advantage of social media as emerging revenue channels, allowing them to engage and get closer to their customers.”