TikTok is a vital component of consumers' journey to purchase, according to a global research study, where they are increasingly discovering and buying new products.
The goal of the study is to determine TikTok's role and perceptions in the retail consumer experience. According to the study's findings, TikTok's influence extends beyond the platform and into the real world. TikTok is altering the usual buying channel and boosting large-scale purchases. The path to purchase on TikTok is described as an "infinite loop," rather than a sales funnel. That is to say, there isn't a clear beginning or endpoint.
These stats highlight users’ perception of TikTok, along with their wants and needs:
44% of daily TikTok users want branded content to be entertaining.
49% of users say TikTok is a source for discovering something new.
35% of users say TikTok is a source for learning something new.
29% of users say TikTok is a source of inspiration.
These stats highlight the consumer behavior of TikTok users:
Users spend 14% more when TikTok is part of the purchase journey
37% of users discovered something on TikTok and immediately went to buy it.
35% of TikTok users buy something they see on the platform.
29% of users say they weren’t able to buy a product they discovered on TikTok because it was sold out.
39% of TikTok users say “lifting spirits” is a key factor when they decide to buy a product.
44% of TikTok users discover products from videos posted by a brand.
44% of TikTok users discover products through ads in their feed.
38% of TikTok users interacted with a video posted by a brand while actively doing product research.
24% of TikTok users interacted with ads in their feed while actively doing product research.
Compared to users on other social media platforms, TikTok users are:
1.5x more likely to immediately go out and buy something they discovered on the platform compared to other platforms’ users.
1.5x more likely to convince a friend or family member to buy a product they’ve seen on the app
2.4x more likely to create a post and tag a brand after buying a product.
2x more likely to comment or DM a brand after making a purchase.
1.3x more likely to feel excited or euphoric about product purchases.
1.4x more likely than users on other platforms to research products and brands they discover.
The findings of this study are crucial for marketers to be aware of, as TikTok's influence over consumer purchase decisions is only expected to grow from here.