How Partnering With TikTok Benefits Shopify

The video discusses Shopify's new partnership with TikTok, introducing an in-app shopping experience. It highlights the growth of social commerce, with Shopify's channels growing by 76% from 2020 to 2021. The democratization of retail is emphasized, allowing small creators to succeed without large followings. Shopify's business model is explored, focusing on its channel-agnostic approach and its role in fostering entrepreneurship.

What is the main reason Shopify's partnership with TikTok is considered beneficial?

• TikTok offers the best advertising rates.

• Shopify wants to focus solely on online retail.

• TikTok is the largest social media platform.

• The future of retail is about consumer choice across platforms.

How much did Shopify's social commerce channels grow from February 2020 to February 2021?

• 50%

• 76%

• 100%

• 25%

What is a significant feature of TikTok shopping for merchants?

• Discounted advertising rates.

• Tagging products organically in videos.

• Ability to create long-form videos.

• Exclusive access to TikTok's user data.

What is one of the benefits of Shopify's retail model for smaller creators?

• They can sell products without a large following.

• They can only sell on TikTok.

• They need millions of followers to succeed.

• They must use promotional products.

What is the main growth driver for Shopify according to Bloomberg Intelligence?

• Shopify Ads

• Shopify Marketing

• Shopify Shipping

• Shopify Payments

How often does a new entrepreneur make their first sale on Shopify?

• Every 10 seconds

• Every 28 seconds

• Every minute

• Every hour

If Shopify were a retailer, where would it rank in terms of size in America?

• Fourth

• Third

• Second

• First