You could film yourself with crazy filters on it, playback 60-second videos on it with movie-level plots, and now it seems, with its latest partnership with Shopify (SHOP), you’re also able to buy your favorite products on TikTok. With sales through social media estimated to annually grow by 35% this year (reaching $36b), TikTok’s foray into the space was a long time coming.
The Shanghai-based social video platform already announced plans to partner with the Canadian e-commerce company, Shopify, back in October. Previously, the app gave Shopify merchants more targeted advertising channels, but now — with pilots already released — the app is giving users the ability to link their accounts to product catalogs and create “Shopping” tabs on their pages. Select merchants in the US and UK have already started using the features, with the most notable being Kylie Jenner and her Kylie Cosmetics brand. Shopify makes the perfect match for TikTok as the e-commerce site’s already been seeing the social media platform’s benefits with its ads on the platform, leading to a 76% annual increase in Shopify installs this February.
why it matters
TikTok might still be privately-held but Shopify shares had a field day with a 4% rally as soon as news of the deal broke out. Shopify’s 1.7 million merchants have clearly found a goldmine in TikTok’s over 1 billion monthly active users.