TikTok: Helping grow small and midsized businesses and deliver value for consumers across the United States
TikTok serves as a hub for a diverse array of individuals and businesses across the United States, contributing to a vibrant online community. Among these, small and midsize businesses (SMBs) are well positioned to benefit from TikTok’s algorithm, which helps users discover niche brands that align with their preferences. With more than 7 million businesses among its 170 million active users in the US, individuals can explore new products, services and local attractions, thereby influencing real-world communities. These interactions support economic value across different industries, which this report aims to quantify.
SMBs that leverage TikTok’s capabilities effectively have the opportunity to realize growth, stimulating economic activity within businesses and their supply chains and through employees’ spending in the wider economy. Via these channels, our economic modelling suggests that SMB activity on TikTok contributed $24.2bn to GDP in the US in 2023, while supporting 224,000 jobs.
This research report, commissioned in late May 2023, presents our comprehensive economic modeling and survey findings of 1,050 SMBs that use TikTok and 7,500 TikTok users to learn how businesses and users interact with the app and leverage the economic and social opportunities it provides.
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