While it may be too early to answer the question definitively, what we do know is that e-commerce companies are driving up their TikTok spend – and big time at that. This according to a recent survey of thousands of online stores.
Total spend increase during Q2 of 2022 was a whopping 60%. The power of the TikTok ad machine cannot be denied.
Let’s take a look at a few stats that give us a bit more perspective:
- Smaller retailers (those with sales of up to US$5 million annually) are driving most of the e-commerce ad spend increase on TikTok.
- While the numbers are impressive, TikTok is still behind Facebook, which is by far the number one ad platform for e-commerce companies.
- The top three category spenders when it comes to social e-commerce ad spend are health and beauty, home and garden, and food and beverage.
The bottom line: If you’re an e-commerce company, it’s time to get on TikTok. It is, quite simply, a matter of competitiveness now.