TikTok recently conducted a global research study to “understand TikTok’s role in the retail consumer journey."
This includes how the platform impacts product discovery, consideration, and purchase.
The main takeaway? TikTok is changing the way we shop.
We're sharing the most noteworthy TikTok stats from the study, and what they mean for businesses and brands in 2022.
How TikTok Impacts the Path to Purchase: Study Findings
TikTok’s popularity has skyrocketed in recent years – especially when it comes to driving sales and generating leads.
But unlike traditional marketing funnels, TikTok’s study found that its retail purchasing path is an “infinite loop” with no start or end point.
TikTok says this infinite loop allows for more flexibility and reflects new consumer habits: “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.”
In other words, selling on TikTok requires brands to experiment with how they connect with potential customers – the old rulebook is out.
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
What Do These TikTok Stats Mean for Businesses and Brands?
Two words: product discovery.
TikTok’s study found that 49% of users say the app is a source for discovering something new, with 35% using it to learn something new.
In other words, TikTok is a great place for getting your product in front of new potential customers.
And with TikTok users more likely to immediately buy something they discover on the app, all it takes is one video popping up on their For You Page to generate sales.
But first you’ll need to build a community, post consistently, and share educational or inspirational content about your product.
Jenna Labiak, founder of The Silk Labs (who’s gone viral on the app) says: “I always give our audience a lot of value. For example, instead of just ‘selling’ our hair products, I’ll go ahead and use them in a hair tutorial."
There’s no question that TikTok has shaken up both how businesses connect with customers and how we shop.
And between these TikTok stats and new e-commerce tools rolling out on the app, we predict the sky’s the limit. Watch this space.
Want to learn more about making sales, generating leads, and going viral on TikTok? Watch our panel session with three small business owners: