According to Sensor Tower report, TikTok is the most downloaded and highest-grossing app in 2021! With the launch of online shopping features, the app is going to be an important tool for the retail industry in 2022.
After taking in close to $4 billion in advertising revenue in 2021, TikTok is planning to reach triple that number in 2022.
According to the report, TikTok is the top-grossing app worldwide in 2021, followed by YouTube, Piccoma, Tinder, and Disney+.
Coming to downloads, TikTok is reportedly the most downloaded app on the App Store for 2021, racking up 745.9 million installs across both app stores. This is despite a dip of 24 percent year-over-year from 980.7 million installs in 2020.
TikTok Shopping
On the 8th of December, TikTok ventured into the world of online shopping. The video-sharing app launched a two-day live event for a UK audience where they were able to buy products directly on the platform.
Hosted by celebrity Rylan Clarke-Neal, it was the first time TikTok produced its own two-day event, using influencers and music to attract users to purchase a range of different items.
“By combining the creative, entertaining content TikTok is known for with the biggest names and TikTok creators, we are creating a new kind of shopping experience that brings together all your favourite parts of discovering and buying new products, with a distinct TikTok twist”, TikTok announced in a statement.
The app previously held livestreams with retail brands during Black Friday and now it’s hoping this major move will help cement its place in the online retail space.
Tik Tok is the app to focus on in 2022! It has already demonstrated its power when it comes to persuading people to purchase products.
The app created a hashtag trend #TikTokMadeMeBuyIt which is posted when consumers buy something that was recommended on the site and it has been used so far over 7 billion times.
“This new in-app shopping ability on TikTok is a reminder to brands that if they are looking to connect with particular customer demographics such as Gen-Z, they need to ensure their digital strategy incorporates a social commerce component. These trends showcase that brands cannot possibly create a long-term customer engagement strategy if they are not meeting them on the platform of their choice. Brands who are already capitalising on these capabilities are not thriving by coincidence; they’ve prepared for it and they’ve researched this consumer. And most importantly, they’ve put forth and invested in a strategy that thrives in this sort of environment.”
