TikTok Shop sales are going viral!

Answer: $17.5 billion dollars

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Questions:

• What factors do you think are driving the growth of TikTok Shop's revenue?
• How might the popularity of TikTok influencers impact the success of its shopping feature?
• In what ways could the rise of social media shopping change the way consumers make purchasing decisions?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Forbes):

Adults between the ages of 18 and 24 were 3.2 times more likely than the average consumer to buy something on TikTok Shop in 2023, research by Earnest Analytics shows. Those between the ages of 25 and 34 were 1.8 times more likely. As these consumers age, their app-based purchasing will probably influence where retailers and brands congregate. However, that influence might be taking shape now: Even shoppers in their 40s are more likely to buy things on TikTok Shop than the general population.

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Check out the Consumer Skills Unit to learn about the influence social media has on your money!
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Check out ANALYZE: The Influence of Social Media to see how influencers and brands market products through social media.

About the Author

Dave Martin

Dave joins NGPF with 15 years of teaching experience in math and computer science. After joining the New York City Teaching Fellows program and earning a Master's degree in Education from Pace University, his teaching career has taken him to New York, New Jersey and a summer in the north of Ghana. Dave firmly believes that financial literacy is vital to creating well-rounded students that are prepared for a complex and highly competitive world. During what free time two young daughters will allow, Dave enjoys video games, Dungeons & Dragons, cooking, gardening, and taking naps.