NIQ announced this in a press release, and also announced new sales metrics on TikTok Shops. This effort provides insights into product performance within the platform, including sales volume, value, and market share for brands and retailers.
NIQ also reported that health and beauty dollar sales increased 26% from August pre-launch sales.
TikTok Shop, which launched in September, is a way for viewers to purchase products within the popular app. NIQ’s measurements and insights on this new platform could be invaluable in understanding consumer behavior and sales performance.
“TikTok Shop is a rapidly growing platform and we are excited to launch new sales measurement on TikTok Shop,” said John Busardo, Senior Vice President and Beauty & OTC Vertical Lead at NIQ. “Brands and retailers need to understand how their sales are measured.” “Our new measurements provide the insights you need to make informed decisions about your TikTok shop strategy.”
New sales measurement tools from NIQ will help you not only understand product performance, but also identify growth opportunities, the press release states. It can also be useful for marketing campaigns and product development. “This innovation represents a major step forward in enhancing retail performance analytics and consumer insights within the industry,” the company said.
September results differ slightly from soft launch results in the health and beauty category. The most popular products were facial skin care, colognes and perfumes, lip cosmetics, body lotions and treatments, and deodorants.
