UK firms flock to Tiktok to grab Gen Z sales
Nearly 1.5m UK businesses are using Tiktok to promote their products or services to younger and “more diverse” audiences, new figures reveal.
Releasing the number of business on its platform for the first time, the Chinese-owned firm claimed it was “humbled” by the number of British companies with accounts.
Tiktok, which is projected to have 17m UK users by 2024, has been a hotbed for product promotion by influencers since it launched in the UK in 2018.
But these latest numbers show that start-ups, SMEs and blue-chip firms – including the likes of HSBC, Tesco and several Unilever brands – are also turning to the platform in their droves.
Emma Jones CBE, founder and CEO of Enterprise Nation, said: “[Tiktok] has allowed enterprising small businesses to tell their story to a much broader audience, showcasing their ideas and products, and ultimately driving sales.”
Hashtags like #TikTokMadeMeBuyIt have reached over 74bn views, according to the company’s figures. And a recent study by Oxford Economics, which was sponsored by Tiktok, found that one in five businesses founded less than five years ago spend over half of their social media budgets on Tiktok alone.
The numbers come in the wake of the launch of Tiktok Shop, the marketplace that allows companies to sell to shoppers without having to leave the app in return for a commission.
By Ali Lyon