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April 26, 2024
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Marketing

Luxury could lose ecommerce ground by chopping TikTok budgets during recession: report

February 13, 2023

Brands have always been quick to place marketing budgets on the chopping block, though a new report suggests that executives should rethink this approach, as 80 percent of TikTok users say the platform helps them get ideas about new products and brands. Image credit: Aspire Brands have always been quick to cut marketing budgets. Experts suggest executives rethink this approach, as 80 percent of TikTok users get ideas about new products and brands from the platform. Image credit: Aspire

 

By Amirah Keaton

TikTok can no longer be relegated solely as a source of entertainment — the platform is steadily growing into the role of an ecommerce leader, revolutionizing the top-to-bottom retail marketing funnel in the process, per a new report.

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  1. 42pc of American luxury shoppers buying high-end items as 'rewards': YouGov
  2. Mercedes-Benz adds celebrity touch to G-Class rollout
  3. La Mer appoints first male brand ambassador
  4. Six Senses wins top 2024 Positive Luxury Award
  5. Ferrari forges racing partnership with HP
  6. YSL Beauty adds Bahamas, Colombia to rewilding project scope
  7. Porsche named official electric vehicle of 2024 Met Gala
  8. Double-digit growth streak continues at Hermès
  9. Prada Group sees first quarter sales rise 16pc
  10. Tod’s unveils ‘Art of Craftsmanship’ exhibition at Venice Biennale
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