TikTok may have been the world’s most downloaded and consumer spending app in 2023, but it was not the most used.
Last year, Facebook remained the top monthly active user app, followed by fellow Meta-owned apps WhatsApp, Instagram, and Messenger, which ranked ahead of TikTok at number five, reported TechCrunch.
Now, new data shows that TikTok’s growth has slowed, raising the question of whether the app’s expansion into e-commerce via TikTok Shop is to blame.
According to recent statistics from market research firm Sensor Tower, while TikTok’s growth rate remains positive, it is slowing. In 2022, TikTok’s monthly active users increased by an average of 12% every quarter, but this statistic plummeted to 3% per quarter in 2023.
“Instagram could ultimately benefit from the user frustration around TikTok Shop, given that the Meta-owned app removed its own Shop tab in January of last year and killed off live shopping in March,” noted TechCrunch.
Ariel Ben Solomon is the Growth and Strategy manager at Ecomhunt. He is the host of the Ecomhunt Podcast. Can be followed on Twitter at @ArielBenSolomon
