Research And Markets released a report on online apparel shops, revealing that TikTok's new online shop is booming with its innovative and strategic marketplace.
According to a report by Research and Markets on online apparel stores, TikTok's recent launch of its e-commerce sector, TikTok Shop, is causing a significant transformation in the evolving landscape of online apparel shopping. The report titled "Apparel Online Store - USA Online Search Trends and Forecasts" comes at the perfect time, as TikTok is rapidly translating its cultural influence among younger consumers into tangible sales.
The TikTok Shop is providing an unparalleled window into market demand for apparel products. With millions of users on TikTok, the new shop is proving to be extremely proficient in driving sales. Apparel brands can benefit greatly from understanding these digital search trends, as it can help them expand their product offerings, identify the most popular products, and gain insights into the keywords and phrases customers use to research the products they want.
Over 200,000 sellers have already applied to use and sell on TikTok Shop, highlighting the critical need for brands to utilize and understand the trends within this new boom, according to the report from Research and Markets.
TikTok has quickly become the fastest-growing social media platform in the world, according to a Search Logistics report. Since its launch in 2016, it has amassed over a billion monthly users, bringing it closer to Instagram's user population. In terms of downloads, TikTok accounted for 45% of total downloads worldwide from the first quarter of 2020 to the second quarter of 2021, with 1.36 billion downloads. In fact, TikTok has been downloaded over 3 billion times since its inception, solidifying its position as not only the fastest-growing social media platform but also the fastest-growing app ever.
Research and Markets, the source of the report, is the world's largest market research store. With over 450 clients and coverage of 800 different industries and markets, they provide valuable data and insights. Founded in 2002 and headquartered in Dublin, Ireland, Research and Markets offers a diverse range of information, covering industries from automotive to telecommunications to zoology.
The rise of TikTok Shop is reshaping the online apparel shopping experience, with its innovative approach and ability to tap into the preferences of younger consumers. As more brands join TikTok Shop and leverage its enormous user base, the online apparel shopping landscape is set to undergo further transformation.