The TikTok’s Takeover: The Power of Creators & Content in 2021
With roughly 100 million monthly active users in the US and 100 million in Europe, TikTok has become the video content sharing application with the largest user base in the world. In the last year and a half, the app has become a methodology to reach a new generation of consumers, and with the global fashion e-commerce market expected to reach over $672B in 2023, fashion and luxury brands are taking note and placing it at the centre of many business strategies.The three-year-old app is one of the fastest-growing digital platforms globally, and its popularity isn’t slowing down.
TikTok has become an advertising haven for brands and businesses, with an estimated $919.2 million in consumer spending in the first half of 2021. Utilising short-form videos, TikTok describes itself as a growing platform for marketers to leverage as a must-have destination, and can be a persuasive channel for brand storytelling and marketing. The app’s open-style platform allows businesses to be discovered by a wide range of users across generations, with a strong Gen Z and Millennial base.
However, being built by millions of content creators means that TikTok is reliant on formats that often are not well understood by brand marketers and social network managers. With this in mind, this report was prepared jointly by the Launchmetrics and TikTok teams to highlight the most relevant content trends, the creators generating the most Media Impact Value™ on the platform, and opinions from professionals and experts on the app’s current and future strategies. For more insights and inspiration on the value of creators and content to your brand strategy, download the report here.