Comprehensive Sales Data Available Across CPG Categories, including Beauty
Chicago, IL – October 17, 2023 — NIQ, the global leader in measurement and data analytics, is excited to unveil its groundbreaking measurement of sales in TikTok Shop. This pioneering 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 Shop has witnessed a remarkable surge in popularity as consumers actively seek novel and immersive shopping experiences. NIQ’s 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 within this thriving 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.
The realm of consumer-packaged goods (CPG) has long embraced the potential of social media and influencer marketing, with beauty brands at the forefront of this digital revolution. The visually appealing nature of beauty products lends itself to the medium of social media, enabling the creation of compelling ads and organic content that resonate with audiences. Influencers have also played a pivotal role in attracting consumers and driving sales within this ecosystem. 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 & 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. This innovation represents a major stride towards enhancing retail performance analysis and consumer insights within the industry.
The new measurement of sales across CPG categories in TikTok Shop will be available to NIQ clients on both the Rakuten and Omnisales platforms in October 2023.
NIQ is the world’s leading consumer intelligence company, delivering the most complete understanding of consumer buying behavior and revealing new pathways to growth. In 2023, NIQ combined with GfK, bringing together the two industry leaders with unparalleled global reach. With a holistic retail read and the most comprehensive consumer insights—delivered with advanced analytics through state-of-the-art platforms—NIQ delivers the Full ViewTM.
NIQ, is an Advent International portfolio company with operations in 100+ markets, covering more than 90% of the world’s population. For more information, visit NIQ.com.