Over half, 68%, of shops consider a sale or ban of TikTok would affect enterprise and conversion charge, simply 28% have some kind of contingency plan in place.
These are high findings from a First Perception report, “TikTok’s Unsure Future,” carried out with InsightSuite.
“Retailers danger dropping a strong product discovery platform if TikTok is shut down,” Greg Petro, CEO of First Perception, mentioned in a press launch on the findings. “With over two-thirds of shoppers discovering merchandise on TikTok that they later buy elsewhere, the clock is ticking for retailers to develop contingency plans. Retailers want to grasp the place their customers shall be if TikTok goes away, and which platforms can ship the identical product discovery and buyer acquisition magic that TikTok presents.”
The report additionally revealed 82% of shops will improve promoting spend on Fb within the occasion that TikTok is banned.
Extra findings embrace:
- 73% of shoppers plan to make use of TikTok as inspiration for his or her vacation purchasing, and 59% intend to make purchases straight via TikTok Store.
- 81% of shops surveyed use TikTok to promote on to shoppers, however almost 70% have struggled with stockouts and delays on account of viral content material.
- 39% of shoppers named Fb because the platform the place they may spend nearly all of their time if TikTok is banned whereas 40% of influencers agree that Fb is the place they might shift their focus.
The information comes on the heels of a Numerator report revealing 31% of U.S. adults are utilizing TikTok, making it the fifth most-popular behind Fb, YouTube, Instagram and Pinterest, respectively.
