🇪🇸 TikTok Expands Shopping Features
TikTok is planning to introduce in-app shopping in Spain and Ireland by October 2024. This initiative, reported by Bloomberg News, shows TikTok's aim to grow its eCommerce presence in Europe. A TikTok spokesperson mentioned, "We will continue experimenting with this new commerce opportunity to support businesses of all sizes and enable our community to discover and engage with products they love." This launch involves hiring around 40 workers in Spain, making it one of TikTok's largest eCommerce teams in Europe.
🇮🇪 Adjusted Launch Plans
The rollout in Spain and Ireland marks a scaled-back plan from TikTok's initial strategy to introduce its Shop feature to multiple European countries, including Germany, Italy, and France, earlier this year. The delay was to prioritize the American market and avoid regulatory issues. The current focused launch might help TikTok expand steadily while managing regulatory scrutiny.
📊 Social Commerce Insights
Social commerce is growing, especially among younger consumers. Research by PYMNTS Intelligence indicates that 13% of consumers made purchases influenced by social media influencers. This figure doubles for Gen Z, showing their significant role in social commerce. In contrast, only 22% of zillennials and millennials, 20% of bridge millennials, and a mere 6% of Gen X and 2% of baby boomers reported similar influences. Older consumers prefer recommendations from articles and friends.
🌐 Future of Social Commerce
Influencers are vital to social commerce by adding authentic storytelling to product promotion. Kit Ulrich, general manager of creator shopping at LTK, stated that this trend democratizes brand promotion. TikTok’s expansion into European eCommerce underscores the platform's strategy to leverage influencers to boost engagement and sales. TikTok plans to extend its shopping portal to more European regions in 2025, reflecting its ambition to solidify its footprint in global eCommerce.
How will TikTok’s shopping feature impact your shopping habits?
