Mediaboss Marketing

As a result, investment in marketing and branding was pinpointed as the top area for investment; 53% of those surveyed who are planning to invest in this area said they would funnel funds into boosting social media activity.

TikTok has built a reputation for showcasing new and popular product trends however, the study reveals smaller retailers are about three times less likely to have a presence on TikTok than their larger counterparts (43% large retailers vs 14% SME retailers).

However, 29% of small merchants surveyed said they would like to launch their presence on TikTok this year.

As part of its Shop Small Accelerator programme, American Express is partnering with TikTok to help small merchants promote their business.

Merchants can register for a free, in-person workshop this June to learn directly from experts at TikTok, as well as accessing on-demand webinars to discover top tips and the latest tools to help their business.

Dan Edelman, General Manager, UK Merchant Services at American Express, says: Social media is a key channel for retailers of all sizes, enabling them to reach new customers and build a community around their brand.

Thats why, as part of our commitment to backing merchants, were helping them connect with more customers by tapping into the power of social.

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American Express: retailers double down on social media marketing in bid to reach new customers - Retail Technology Innovation Hub