TikTok has become the UK’s most shopped social media channel and has outpaced Instagram and Facebook.
The average consumer now makes 10 purchases on TikTok each year compared to nine annual purchases on Instagram and Facebook, according to data from market research firm Savanta.
The Gen Z demographic makes more purchases than anyone else, averaging 19 purchases through TikTok annually. This compares to 18 purchases on Instagram and 15 on Facebook from this group.
TikTok reported a five-fold surge in revenues last year with its UK and European sales increasing by 477% in 2022 and creating $1bn (£828bn) in turnover across its international markets.
The platform’s advertising sales in 2022 were estimated to have generated $5.96bn (£4.92bn) according to Insider Intelligence, which is more than Twitter and Snapchat combined.
Retail Technology Show event director Matt Bradley, who commissioned the Savanta research, said: “Social media’s star has been rising for some time as both a viable and lucrative commerce platform for retailers. However, as this sales channel matures and adoption among shoppers continues to grow, we’re now seeing a shake-up of the status quo.
“With new platforms and new evolutions in social commerce itself, such as the metaverse, becoming more mainstream, shoppers are migrating towards these new formats with TikTok now leading the way as the most shopped social network.”
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