At the recent TikTok Shoppertainment Summit in Jakarta, Indonesia, the short-form video platform highlighted how content and commerce are shaping the way people shop.
Citing its own survey, TikTok said content creators/entrepreneurs in the platform reported an increase in revenue of nearly 50% and 96% of these businesses surveyed have gained new customers as a result of using Tiktok.
“Consumers today are more open to participating in and reviewing brands and products because of the democratization of creativity on online platforms like TikTok,” said Shant Oknayan, Head of Global Business Solutions, Asia Pacific, Middle East, Africa & Central Asia, TikTok.
The Shoppertainment Summit also underscored the significant shifts in consumer behavior on TikTok, which contribute to the rapid growth of businesses on the platform.
Entertaining commerce experience
“Consumers seek engagement, excitement, education, and entertainment when interacting with their favorite brands on TikTok,” Oknayan said. “They want a harmonious blend of content and commerce, and they perceive TikTok as the ideal space where this fusion occurs.”
Recent findings from TikTok’s study indicate that 1 in 3 TikTok users expressed their desire for a more entertaining commerce experience. Also, 3 out of 4 users consider TikTok as a replacement for traditional entertainment sources.
“With the introduction of TikTok Shop, users can enjoy a seamless purchasing journey,” Oknayan said. “Therefore, TikTok has become synonymous with what we term shoppertainment making it the ultimate destination for businesses.”
According to TikTok, nearly 90% of users are primarily motivated by promotions during mega sales. Its own survey saw that 37% of respondents seek a seamless purchase experience, from product discovery to checkout.
“The process flows seamlessly from engaging content to adding items to the shopping cart,” TikTok said. “Authentic product reviews and comments from creators and the community also influence purchasing decisions on TikTok.”
Inspiring videos that showcase new products or brands previously unknown to users drive them to make new purchases.
TikTok said that based on its evolution in the platform, shoppertainment is becoming a huge business opportunity across the Asia Pacific, which is worth up to $1 trillion.