Mixed headlines continue for retailers as economic uncertainty deepens. But the Gen Z-TikTok effect, bold new partnerships, and an exploding retail media market offer opportunities for brands in 2023. Those that remain nimble will come out on top.
US digital buyer's average ecommerce spend, 2022
Gen Z’s favorite platform has started testing TikTok Shop with select US merchants. The company’s latest corporate reshuffle and hiring plans point to a focus on commerce, which will offset a lowered ad revenue outlook. US ecommerce livestreaming and owned fulfillment centers are on the horizon—building on the #TikTokMadeMeBuyIt phenomenon (30 billion views and counting) to entice young shoppers.
TikTok is poised to crack the elusive US social commerce nut:
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