"TikTok Shop has been one of the fastest-growing brands in the US this year, according to a new Morning Consult report. The social-shopping app ranked third on Morning Consult's list, just behind food-delivery app DoorDash and clothing brand Fruit of the Loom. It grew more quickly than other digital brands, such as ChatGPT (ranked ninth) and crypto exchange Coinbase (ranked 11th). It was the only social-media tool to rank in the top 20 this year."
"TikTok Shop's growth in popularity shows just how much the social-commerce platform has managed to break through in a crowded US e-commerce marketplace dominated by Amazon. While some users grumbled when the feature first appeared in their TikTok feeds in 2023, many now see TikTok Shop simply as another place to buy cheap stuff, akin to Shein, Temu, or Amazon Haul."
TikTok Shop ranked third among fastest-growing brands in the US, behind DoorDash and Fruit of the Loom, according to Morning Consult. The social-shopping app outpaced other digital brands including ChatGPT and Coinbase and was the only social-media tool in the top 20. The platform's rising popularity reflects social commerce becoming mainstream, with many users treating TikTok Shop as another place to buy inexpensive items similar to Shein, Temu, or Amazon Haul. Morning Consult compared survey responses from tens of thousands of US adults between the first and third quarters to measure purchase interest. Morning Consult's senior director noted increasing consumer use of social media to browse and buy, coinciding with TikTok Shop's growth.
Read at Business Insider
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