TikTok's proving to be a powerful tool for New Zealand businesses. 

A new Infometrics report shows the social media platform helped boost the local economy by an estimated $1.2 billion last year. 

It found more than 670 thousand New Zealanders are visiting restaurants and cafes or making other purchases after discovering them on TikTok. 

Infometrics Principal Economist Brad Olsen told Mike Hosking around 50% of businesses in New Zealand reckon they’re using TikTok in some way, shape, or form. 

Of that number, he says, around 15% don't do anything paid, instead just posting organic videos, which is a low cost but effective way to get in front of a whole bunch of eyes. 

LISTEN ABOVE 

TikTok's proving to be a powerful tool for New Zealand businesses.&nbsp;
A new Infometrics report shows the social media platform helped boost the local economy by an estimated $1.2 billion last year.&nbsp;
It found more than 670 thousand New Zealanders are visiting restaurants and cafes or making other purchases after discovering them on TikTok.&nbsp;
Infometrics Principal Economist Brad Olsen told Mike Hosking around 50% of businesses in New Zealand reckon they’re using TikTok in some way, shape, or form.&nbsp;
Of that number, he says, around 15% don't do anything paid, instead just posting organic videos, which is a low cost but effective way to get in front of a whole bunch of eyes.&nbsp;
LISTEN ABOVE&nbsp;

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Brad Olsen: Infometrics Principal Economist on the impact of TikTok on New Zealand's economy

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/72506a2a-0dc4-4f66-8633-b494015779bc/transcript