Purchasing on TikTok Balloons 553% in UK; GameAnalytics Launch GameIntel
In today’s ExchangeWire news bulletin, UK consumers shopping on TikTok increased 553% over the past year. GameAnalytics launches GameIntel, a mobile intelligence platform that enables publishers to better understand the market. and consumer goods company Perch are the fastest company to achieve unicorn status in the US after a Series A round valued at $ 775 million.
Shopping on TikTok is skyrocketing
Shopping at TikTok has grown in popularity in the UK during the pandemic and has grown a staggering 553% over the past year, according to research by Bazaarvoice’s influenster. The astonishing growth of the short-form video platform outperforms that of its closest competitors. Facebook saw their purchases grow by 160% and Instagram by 189% over the same period.
Nonetheless, ByteDance’s own platform is falling behind in the area of social commerce. Only 24% of consumers shop on the platform, compared to 45% on Facebook and 64% on Instagram. Content aggregation platform Pinterest has become a serious competitor in this space, seeing a 356% increase in consumers shopping through the platform over the past 12 months.
The results show that the influence of social media on consumer shopping habits has increased. 79% of 3,272 respondents said that they are now more likely to shop through a social platform than a year ago. Additionally, 70% said they used social media websites to find new brands and 49% said they tried a new brand versus their usual provider because of social media. These results show that maintaining customer loyalty is a key challenge for brands, says Ed Hill, SVP EMEA, Bazaarvoice.
GameAnalytics launches the GameIntel mobile intelligence platform to provide games with a “source of truth”.
Analytics tool provider for game makers GameAnalytics has launched GameIntel, a mobile intelligence platform designed exclusively for games. Building on the company’s Benchmarks + platform, the offer offers insights into the data of the more than 140,000 games in which GameAnalytics is already integrated.
The offering promises developers, publishers and other gaming professionals “a reliable and flexible toolset with which they can gain meaningful insights” and provides access to global market insights such as the top performing games and publishers, recently released titles and trending games. GameIntel also offers “comprehensive categorization of more than 150,000 games across the store ecosystem with game-specific search functions at a mechanical level to enable better market research,” the company said in a press release.
“When GameAnalytics first launched in 2012, our primary role was to democratize analytics for game developers,” said Morten Wulff, Founder and Chairman of GameAnalytics. “Our goal is to do the same for Mobile Intelligence. We offer a market leading affordable service that gives developers of all shapes and sizes the insights they need to succeed. “
Persch becomes the fastest US unicorn after a $ 775 million investment
Technology-driven trading company Perch is the fastest company to ever achieve unicorn status in the United States. Success comes after the company, which acquires and expands third-party Amazon and D2C brands, announced the successful completion of a Series A financing round of USD 775 million (£ 548.9 million).
The round is led by Softbank Vision Fund 2 and supported by Spark Capital and Victory Park Capital. It is the largest Series A raised by a consumer goods company and brings Perch’s total funding to over $ 900 million (£ 637.4 million). In addition to its record successes, the company has passed another significant milestone with the acquisition of over 70 brands, several of which are currently agreed.
Commenting on the funding, Chris Bell, Perch CEO, “This investment is a strong endorsement of our incredibly talented team, data-first playbooks and our long-term vision. […] Our highly analytical and engineered approach enables us to innovate on a large scale and automate to increase efficiency from supply chain logistics to listing optimization. We plan to use these funds to invest in the team and platform, bring additional brands up through additional channels and regions, and continue to acquire the best products and brands. “