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Comprehensive sales data available across CPG categories, including beauty helps brands create smart strategies.
October 17, 2023
By: Christine Esposito
Editor-in-Chief
NIQ is now offering measurement of sales in TikTok Shop. The company says the initiative empowers brands and retailers with “unparalleled insights” into their product performance within TikTok Shop, encompassing crucial metrics such as sales volume, value, and market share at the brand level. TikTok announced the full launch of TikTok Shop in the US in September. TikTok Shop brings shoppable videos and live streams directly to “For You” feeds and give brands, merchants and creators the tools to sell directly through shoppable content on the app. TikTok Shop has witnessed a remarkable surge in popularity as consumers actively seek novel and immersive shopping experiences. NIQ says its this latest measurement capability marks a significant leap forward, as it equips businesses with the tools to optimize sales performance and gain deeper insights into consumer behavior in this growing marketplace. For brands and retailers, the ability to grow across various channels, both in-store and online, is intrinsically linked to their capacity to access and leverage data effectively. By tracking customer behavior, identifying sales trends, and planning future strategies based on up-to-date and precise data, businesses can maximize their potential, according to NIQ. TikTok has emerged as one of the most rapidly growing and talked-about social media platforms in recent years. Its meteoric rise has presented beauty brands with a plethora of opportunities for collaboration and sales expansion, underlining the symbiotic relationship between beauty brands and data-driven insights. “We are excited to launch our new measurement of sales in TikTok Shop,’ said John Busardo, senior vice president and Beauty and OTC Vertical lead, NIQ. TikTok Shop is a rapidly growing platform, and brands and retailers need to understand how their products are performing on it. Our new measurement will provide them with the insights they need to make informed decisions about their TikTok Shop strategies.” NIQ's new measurement of sales in TikTok Shop facilitates an understanding of product performance within the platform and enables the identification of growth opportunities. Additionally, it provides invaluable insights into the shopping behavior of TikTok Shop consumers, which can be harnessed to enhance marketing campaigns and inform product development. The new measurement of sales across CPG categories in TikTok Shop will be available to NIQ clients on both the Rakuten and Omnisales platforms this month.
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