According to a 2020 study, people share videos at twice the rate of any other form of content, and 84% of people were convinced to buy a product or service based on the brand’s video.
IMG FOCUS / NYFW
TikTok has the highest engagement rate among social platforms, including Instagram and Twitter
A recent report finds that Gen. Z is set to become one of the primary spenders in the luxury industry by 2025, accounting for 20% of net luxury spending. When clubbed with the millennial cohort, these two generations will account for 180% growth in luxury markets between 2019 and 2025.
TikTok > IG Reels
In our NYFW S/S22 social takeover for @imgfocus, we recommended a reels-first content creation strategy to yield maximum reach and engagement on content. As expected, the reels outperformed all other content forms.
Reels also received an average of 13 more post interactions (engagements) than hard posts.
HARD POSTS: Average 214.83
REELS: Average 227.83
Read more about the importance of TikTok for your business in 2021:
Welcome to the TikTok Economy (Fortune, October 7 2021)
Business cannot afford to ignore TikTok — or what comes next (Financial Times, October 17 2021)
TikTok Statistics - Revenue, Users & Engagement Stats (2021) (Influencer Marketing Hub, September 28 2021)
The Landscape of Luxury & Digital (Madness Studio, Updated October 26 2021)