TikTok Becomes Key Shopping Channel: Lightspeed Report
Article Curated from Retail Insider, Oct 3, 2024
A new report by Lightspeed Commerce Inc. indicates 28 per cent of Gen Z and young Millennial (18-34) Canadian shoppers rely primarily on TikTok for their shopping needs.
In a news release, Lightspeed said retailers hoping to make the most of the upcoming holiday shopping rush should keep generational differences top of mind.
Online retail stores and websites (35 per cent), review websites (31 per cent), referrals (28 per cent), and Instagram (27 per cent) join TikTok in top-ranked preferences for the 18-34 shoppers, signalling the importance of social media as a critical part of retailers’ marketing strategies to reach a younger demographic, added the report.
“Retailers need to understand where shoppers are, and how they behave in order to properly address their needs. With those insights, they can assess and get creative with how they connect to generate a smooth shopping experience. To slay the holiday retail game, retailers should stay ahead of trends,” said Dax Dasilva, CEO of Lightspeed.
Lightspeed’s State of Retail Report reveals that the ways different generations are shopping varies – significantly– and the importance for retailers to be prepared to meet them where they’re at.