Source: TikTok
The next six months are crucial for Tiktok. The app brings many users joy and keeps them entertained. TikTok has quickly become a vital tool for business. But that may all be over because of security concerns. The Senate has just passed a bill that requires Bytedance, Tiktok’s Chinese owner, to sell its stake or face a country-wide ban. If President Biden signs this bill it will become law.
TikTok users are worried. Content creators are not taking the threat of this impending ban well because of the opportunities Tiktok offers for influencers and businesses, specifically those in skincare, cosmetics, fashion, health, and wellness.
Youthforia, a makeup brand known for its skin-friendly ingredients, has garnered 185,000 followers on Tiktok according to the New York Times. The brand is considering moving more marketing to other platforms such as Youtube and Instagram.
Beautystat, sells skin care products on TikTok shop, a widely used hub for consumers. The New York Times reported that Beautystat’s Chief Marketing Officer Yaso Murray said, “Tiktok is just too big, especially in beauty and certain industries, I feel, for it to disappear.”
Bria Jones, a content creator based on Youtube and Tiktok expressed her concerns about the ban on her podcast, “There’s a lot of money on TikTok, not just with ads.” She continued, “there’s a lot of money with TikTok Shop. A lot of businesses have been able to drive sales through personal accounts. A lot of people depend on TikTok.” Influencers like Alix Earle can make up to $5 million in a year from Tiktok according to Forbes.
Sol De Janeiro gained major brand recognition for its Brazilian Bum Bum cream and body mists. The hashtag, #soldejaneirobodycream, has almost 4 million views on TikTok. Sol de Janeiro experienced a 174% sales increase in 2023. Sales rose to $454 million in six months, ending on September 30 according to Glossy Magazine. Heela Yang, Sol de Janiero’s co-founder, said, “Over 90% of our growth this year is from [social], and it’s organic.”
Benefit Cosmetics sold 87,000 product units on TikTok Shop since it joined the shopping hub in 2023 according to Glossy Magazine. This growth can be credited to bands of influencers on TikTok, helping get beauty brand products in front of potential customers.
The TikTok ban could go into effect within the next couple months if President Biden signs the bill. Tiktok is a great source of community and growth for businesses especially with digestible short content. Beauty brands and influencers can continue to build on what they’ve worked on by moving onto other short-form platforms like Youtube and Instagram if they haven’t already done so.
