Happy TTPD release day to the Swifties! To everyone else, Happy Friday 🥳

🧠 Stat Of The Day 🧠

New social network Airchat has now been downloaded just over 45k times and sits at #42 on the app store chart. (Source: Mashable)

⚡️Today’s Headlines⚡️

🦾 Meta’s putting their AI assistant everywhere to compete with ChatGPT

👎 TikTok has added a ‘dislike’ button

💡 Twitch is launching its new TikTok-like discovery feed to all users

👉 X is planning to replace action buttons on posts with swipe to reply

🧵 Threads is expected to have ad placements this year

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✨ Today’s Insight ✨

TikTok Shop is winning in customer retention

📰 TL;DR - Data from Earnest Analytics shows that TikTok is doing better at retaining customers on its eCommerce Shop than its competitors Shein and Temu. It’s mostly due to TikTok’s advantage of using its content to acquire customers and keep them engaged.

💡 Insight - According to the data from Earnest, 27% of TikTok shoppers came back to make another purchase after five months of their first one. TikTok Shop outperformed Temu, Shein, Etsy, and other social-commerce channels like Instagram Checkout in this metric, and performed better than Walmart.

Amazon was the only eCommerce platform that beat TikTok Shop, seeing 36% of shoppers return after five months.

About one in 10 US households have made a TikTok Shop purchase since September, when the platform launched. Earnest attributes TikTok’s near overnight success to their natural position as a vendor already grabbing the attention of millions of potential buyers through their content.

More than 81% of TikTok Shop’s sales in February came from repeat customers, up from 64% in November. This is also thanks to TikTok’s content as the algorithm is so deeply trained to serve content people are already liking. That also helps TikTok Shop’s impulse purchases, which show in the data where shoppers made, on average, 1-2 purchases per month with an average transaction size of $40.

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