Boring and even unsexy?
We have the feeling that many social media giants actually getting more and more locked into their routines? Undoubtedly, however, the steep rise of TikTok continues. At Stockpulse, we are a little bit proud that we sourced about 5 years of TikTok data (2019-2023) on videos and on the associated comments. And we continue to do so. But what is going on inside TikTok when viewed from a business viewpoint? The animation below offers an answer.
For each of the 11 GICS business sectors, the animation shows the percentage of TikTok posts. Over the years, the consumer discretionary sector (e.g., consumer, luxury, and leisure products) dominated strongly what TikTokers talked about when they talked business. The strong dominance of the consumer discretionary sector on TikTok is waning, however. In particular, in 2023, we see a diversification of attention on TikTok reflected by the growth of other sectors. In other words: TikTokers have realized that there is more than life style products to talk about.
Interesting for us as global financial data provider: the finance sector has now reached a sizeable level of attention. Most business-related comments on TikTok still fall into the consumer discretionary sector. But hey, remember that TikTok has a gigantic number of active TikTok users (900 mill. projected for 2024). This means that behind a medium sector size as seen, e.g., in finance, there is a now huge and growing number of users.
What does all this mean for business decision in general and for finance in particular? To find out join the Webinar Unleash the Power of TikTok Data with Our Exclusive Webinar on January 18.
* GICS is a globally used industry analysis framework that helps investors understand key business activities.