TikTok really wants to make live-stream commerce a thing, which would then enable 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 a huge number of creators.
Douyin generated $119 billion worth of product sales via live broadcasts in 2021, a 7x increase year-over-year, while the number of users engaging with eCommerce live streams exceeded 384 million, close to half of the platform’s user base.
Given this, it’s clear where TikTok is also headed, which would facilitate better revenue share, and keep more creators aligned to the app.
Which is why TikTok recently commissioned a new survey by Ipsos to provide more perspective on why brands should be looking to live-stream commerce in the app.
The study found that:
- 1 in 5 live streaming users watch TikTok LIVE, and of that group 62% watch it every day
- Users on TikTok are 50% more interested in branded LIVE content than non-TikTok users
- 50% of TikTok users have bought something after watching TikTok LIVE
The stats are compelling, and while it remains to be seen whether western audiences will be as receptive to live-stream shopping as Chinese consumers have been, there’s clearly opportunity there for those that can get it right.