TikTok is a social media platform that you can utilise to increase your sales. With over one billion monthly users, TikTok has a wealth of opportunity, and potential customers waiting for your products. Since the shopping aspect is incorporated into the social media platform, making the shopping experience seamless. Users can click on the products that they see in your video content for a quick and easy shopping experience.
Growth of Shopping on TikTok
TikTok is a favoured social media platform of the younger generations, 40% of TikTok’s users are 16 – 24 years old. This audience is driven by price rather than quality and responds well to influencer marketing, and trending products. If their friends are buying, they will be more inclined to join in. Products on a TikTok shop can go viral, leading to significant sales potential. Since the launch of the TikTok shop, it has been gaining traction across the world. The popularity of TikTok’s shopping experience has been growing in the UK since its initial launch in 2021, TikTok has now introduced ecommerce fulfilment features, which have been well-received. These improvements make it the ideal time to get your business at the forefront of the growth of this social media platform.
Benefits for TikTok Sellers
TikTok gives you a flow of engaged and interactive potential customers. The capabilities of the TikTok shop mean that users don’t have to leave the social media platform in order to buy. This can be a barrier to purchasing, so removing this can help to improve sales. The software is easy to integrate with your existing ecommerce shop.
Target Audience and Niche Markets
As with every social media platform, it is essential to understand the demographic and behaviour of the users. 40% of TikTok users are aged 16 to 24, they are generally price driven, rather than quality. They are responsive to video marketing and influencer marketing. Fast fashion brands have reported excellent results from their TikTok shop, brands such as Shein, with their cheap clothing, however, TikTok users aren’t just swayed by price. Collaborating with influencers, or celebrities, can be vital to promote your products. TikTok’s content is incredibly important, engaging videos showing products in real life can tempt people to shop. Beauty and cosmetics sell well through a TikTok shop, with great opportunities for fun and engaging videos showing how to use the products. In the same vein, kitchen accessories and gadgets also do well in a TikTok shop, again consider how to make an engaging video.
How Much Do TikTok Shop Sellers Make?
How long is a piece of string? As ever, it depends. If you create fantastic video content that is engaging and entertaining, if your ideal customers are hanging out on TikTok, and if you create partnerships with celebrities or influencers, you have the potential to make impressive revenue from your TikTok shop. If you make poor-quality, unengaging videos, then your sales will be poor. We would always advise that you use TikTok as part of your marketing and sales pipelines, and don’t just rely on one social media or sales platform. However, as a considered part of your business plan, a TikTok shop can get you in front of a whole new section of potential customers.
Challenges and Competition
Generally, the products that you will be selling on your TikTok shop will be non-essential. In the current economic climate, it is harder to persuade people to part with their money for non-essential items. The better your marketing, the more likely you are to convert sales. Consumers on TikTok tend to be price-driven and will be on the lookout for discounts, and price drops, so your sales can be heavily affected by other businesses’ behaviour. Keep an eye on your competitors and their price changes, as this will affect your sales.
Future of TikTok Shops
TikTok shopping is in its infancy in the UK. The popularity of this social media shopping experience will grow, and as it does, so will the potential. Launching your TikTok shop now will help you to gain an established presence in a growing market. The potential is out there, so make sure you capitalise on it for your business.
Take your Ecommerce Shop to a New Level with TikTok
Here at Elver E-Commerce, we would always advise that you market your e-commerce shop across different platforms. Relying on just one platform can make your business vulnerable to changes to that platform. If your e-commerce business is running successfully on other platforms, and you are looking for new areas to target, then a TikTok shop may be the ideal solution. Our reporting allows you to see the breakdown of sales across the different platforms, giving you vital business insights to help you grow your successful ecommerce business. If you are interested in launching a TikTok shop, speak to the team at Elver E-commerce today.
Don’t navigate the complexities of e-commerce accounting alone. Reach out to us today for expert assistance in accurately accounting for your TikTok Shop revenue and fees. Call on 01942 725419.