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Retailers, Gen Z and TikTok…How does it Pan Out

Necessity is the word which drives the world….undoubtedly that is how it panned out for TikTok, it won’t be wrong to say that it emerged as a black horse during the pandemic. It was the year 2020, which gave the platform the much needed push, where the business owners figured out the need to tap the power of Tiktok, which wasn’t only a connecting point for understanding Gen Z and millennials but also understanding the unique ecosystem of the platform.

For instance Chipotle partnered with influencers to run food delivery promos during the superbowl ad breaks, Elf launched a TikTok based reality competition, et al. With the sales success of Ocean Spray, which had an amazing sales record thanks to the promotion of theirs getting viral on the platform, this has finally gone to prove the rising importance of TikTok, amongst the masses.

Brands have finally come to realize that with one right strategy and one right video, they can create ripples in the market and gain viral fame. With the spending power of Gen Z pegged at over $140 Billions, as well as coupled with the fact that they constitute 60% of Tiktok’s audience; undoubtedly this is a golden gate to tap into. With the growing trends of live videos and social commerce being kept in mind, the social media platform is continuing to expand its wings and thus, is offering shopping experience to its users, as was seen in its collaboration with Ntwrk, which was huge success, as it engaged Gen Z, by seamlessly integrating shopping experience with wholesome entertainment.

Though unlike other platforms, TikTok isn’t that easy and sophisticated to use, it doesn’t have time stamps and the content being dished out is based purely on analytics and algorithms, but brands have started cracking this tough code. For instance, Elf as a brand debuted with its very first dance competition and song, called as, Eyes, Lips, Face. This was the very first time any brand had used the platform for promoting its music. As per Evan Horowitz, though, unlike other platforms, brands can hardly control how their campaign would materialize on TikTok, this is because in here you are asking the audience to build commercials for you, this is scary yet challenging, at the same time.

TikTok scores a brownie point as compared to other platforms, because the way it blends entertainment with a pleasurable shopping experience, is something worth learning from and can be imitated for the conventional shopping methods. Companies can also entice youngsters and people from other age brackets by creating a differentiated proposition for consumers, for instance, this could mean collaborating on exclusive product launches, etc. The beauty and fashion brands have emerged the biggest beneficiaries, for instance brands like Aldo, NYX, L’Oreal which had organized some of the most popular challenges in the previous year, had led to their soaring popularity.

TikTok as a platform offers immense opportunities to grow, at the moment its analytics tracking isn’t that simple to use and understand as that of other platforms like Instagram and Facebook, where robust data is available to the user. But, if the ads are placed strategically, it can yield wondrous results than Instagram and Facebook, combined.  TikTok still remains a golden opportunity for business houses, as the varied communities are on the rise on this platform, hence offering multiple points of business to be tapped into, which cater to a large demographic and geographical area. With the platform largely evolving in its nature of operation, now is the time for brands to understand and analyze upon the importance of this platform.

Just one thing before you leave, promoting business interests isn’t the only thing which should be aimed at, rather, promoting safety and social interests at large of the society, too shall form a basic principle of the corporate. One such trending topic on TikTok these days is the issue of highlighting sexual harassment against women. Recently #97Percent has been trending on TikTok, which has been based on a study conducted by Unwomenuk, which highlighted that nearly 97% of females between the ages of 18-24 have experienced sexual harassment in some way or the other in public places, this is a deeply concerning figure and should ring alarm bells.  Also, as per a data collected by YouGov in a survey conducted byUN in January 2021, which featured hundreds of women pointed to another disturbing figure, stating that nearly 70% of women across all groups have been a victim of sexual harassment.

Though this issue isn’t something which can’t be resolved, but it will require making public spaces safe for ladies and this can happen only if men are educated, sensitized and even ladies are made aware of the same. It will definitely take time but the result shall be palpable. As a corporate you can spread information by your campaigns and have a massive outreach due to your sheer size and wide audience engagement, by planning the same in different ways to raise awareness amongst the public and making the society a better place to live.

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