TikTok Shop became available across the US last week. The social video platform has a lot to gain in retail and ad revenues, but it risks facing the same challenges Meta has had with social commerce on Instagram—users' reluctance to actually complete purchases in app. But with sister app Douyin setting the blueprint for TikTok’s social commerce endeavors, the platform isn’t starting from scratch. Here’s a look at TikTok’s social commerce strategy and potential in five charts.

TikTok integrates Wikipedia snippets into search: A move towards broader search capabilities amidst rising competition with Google.

TikTok is rolling out its Shop feature to all 100 million US users (per our May forecast), using a tab on the home screen to drive users to the marketplace and allowing videos directly containing purchase links, in order to drive in-app ecommerce traffic.

eBay’s consignment business is its latest play for luxury shoppers: The marketplace is betting on luxury to turn its fortunes around.

Price matters to everyone, but ease and convenience play an even bigger role in purchase decisions. Plus, retailers should consider revamping their apps to garner more sales and use their target audience to guide in-store and online strategies.

Mobile wallet integration makes checking out more convenient, while composable commerce gives brands the ability to customize and alter their tech stacks to fit their specific needs. Generative AI helps to enhance personalization and product recommendations, and one-click checkout buttons speed up the payment process.

In 2023, 92.3% of the 5.2 million accounts opened digitally will be with incumbent banks, as digital-only banks fall victim to economic uncertainty and intense fintech competition.

“Little treat” culture has taken over TikTok. The hashtag #littletreat has amassed 41.4 million views, and video after video shows users justifying their small purchases because they “deserve a little treat.” But little treats can add up. So Gen Z and millennial consumers are using rewards apps to pay for their little luxuries, according to Wes Schroll, CEO of the rewards app Fetch.

Key stat: 28.0% of Gen Z consumers have discovered grocery products via search engines, compared with 16.7% that have discovered products while browsing store shelves, per our forecast.

Toy sales growth can be attributed to kids’ shifting interests, the influence of online platforms, and expanding into older audiences. In our recent “Behind the Numbers: Reimagining Retail” podcast episode, we dive into trends impacting toy retail sales and how marketers can reach new consumers.

B2B digital ad spending will continue to grow at a slower pace across key industries in 2023. More B2B buyers are millennials and Gen Zers, shifting ad buys from search to display, from Google to social media, and from desktop to mobile.

What’s happening? Active user figures are falling on both X (the platform formerly known as Twitter) and Meta’s Threads, which started strong but has stumbled recently, with more than 80% of users logging off. Their loss could be LinkedIn’s gain, as both Gen Z use of the platform and B2B ad spend there increase.

TikTok’s growing Western European user base means it should be an important consideration in the marketing mix. There’s strong advertising potential, too, though adherence to European regulation could be a limiting factor.

Younger generations are more likely to discover new grocery products via social media and search engines.

Olipop uses TikTok and the promise of gut health to capture Gen Z’s attention, while Crocs leans on Gen Z’s sense of nostalgia and cool collaborations. Coach reinvented itself to appeal to a younger generation of fashion consumers who want to express themselves and GU makes its US debut as Uniqlo’s little sister.

Holiday retail sales will grow 4.5% to reach $1.317 trillion this year, according to our forecast. Retailers who want to carve out a share of that spend will need strong promotional strategies and a seamless digital-physical experience. It’s also not a bad idea to have a plan ready for when the returns start rolling in.

Of US Gen Zers on Threads, 40.1% downloaded the platform because it looked fun, while 38.7% wanted to try something new, according to our survey data.

TJX is thriving as more consumers turn to off-price retail: The company’s “treasure hunt” experience is resonating with Gen Zs and millennials, as well as driving repeat visits from bargain seekers.