TikTok really wants to do live trading as a thing, which would then allow it to follow in the footsteps of its Chinese sister app, Douyin, and turn the short-form video platform into a money-making machine for many. of creators.
Douyin generated $119 billion in product sales via live streams in 2021a 7x increase year over year, while the number of users engaging with e-commerce live streams exceeded 384 millionalmost half of the platform’s user base.
Given this, it’s clear where TikTok is heading as well, which would facilitate better revenue sharing and keep more creators aligned with the app.
That’s why TikTok recently commissioned a new survey from Ipsos to provide more insight into why brands should seek to stream commerce live in the app.
The study revealed that:
- 1 in 5 live streamers watch TikTok LIVE, and of that group 62% watch it daily
- youTikTok users are 50% more interested in branded LIVE content than non-TikTok users
- 50% of TikTok users bought something after watching TikTok LIVE
The statistics are compelling, and while it remains to be seen whether Western audiences will be as receptive to live shopping as Chinese consumers have been, there is clearly an opportunity for those who can get it right.
TikTok has compiled the key data points in the infographic below, while you can read more about the benefits of TikTok live streaming here.