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Retailers leverage social media to attract new customers

Katie Ross
06 June 2024

New research from American Express has shown that retailers are investing in social media marketing to reach new customers and drive loyalty.

In a survey of 500 UK retailers carried out by American Express, customer attraction and retention was named as one of the top three challenges facing their businesses over the next year, with managing increased costs and mitigating the impact of cost-of-living pressures taking the other top spots.

One third (33%) of the retailers surveyed said they wanted to maximise the efficiency of their social media channels in building a community among their customers and driving brand loyalty.

Investment in marketing and branding was therefore earmarked as the key area for investment. Over half (53%) of those surveyed who are planning to invest in this area said they would channel funds into enhancing social media activity.

The study highlighted that smaller retailers are, on average, three times less likely to have a presence on TikTok than larger stores (14% for the former and 43% for the latter). However, just under a third (29%) of SME retailers revealed that they would like to create a TikTok presence this year.

As part of its Shop Small Accelerator programme, American Express is supporting retail success in the UK by partnering with TikTok to help small merchants promote their business.

This allows stores to register for a free workshop in June where they can learn directly from experts at TikTok. As well as the in-person activation, merchants can access on-demand webinars to discover top tips on the latest tools to help their business.

Eligible merchants can register for the programme via the Amex ShopSmallAccelerator event page.

Dan Edelman, General Manager, UK Merchant Services at American Express, said: “Social media is a key channel for retailers of all sizes, enabling them to reach new customers and build a community around their brand. That’s why, as part of our commitment to backing merchants, we’re helping them connect with more customers by tapping into the power of social.”

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