According to a new report by First Insight, only 28% of retailers have a contingency plan for a potential TikTok ban, despite 68% acknowledging adverse business impacts.
Greg Petro noted, 'retailers and brands risk losing a powerful product discovery platform if TikTok is shut down... the clock is ticking for retailers to develop contingency plans.'
The report revealed 82% of retailers plan to increase Facebook ad spending should TikTok be banned, with influencers observing shifts in consumer engagement on other platforms.
73% of consumers leverage TikTok for holiday gifting inspiration, showing its critical role in consumer behavior and product discovery.
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