Are TikTok influencers changing consumers' tastes?

Tastes and preferences is one of the factors that influences or shifts demand. In economics, we don't usually have much to say about where tastes come from.

See Eyeliner Out of Stock? Blame TikTok Items going viral on social media sites are selling out, posing new supply-chain challenges by Liz Young of The WSJ. Excerpts: 

"From makeup to Dash miniature waffle makers and Stanley water tumblers, items are going viral on TikTok and other social-media platforms, launching seemingly modest products into booming sales and making the items nearly impossible to find. For the brands and their promoters, that is creating a new challenge: How do they build supply chains for goods that may sell in the millions, but only if they catch fire online?"

"Some 30% of social-media users in the U.S. recently surveyed by Pew Research Center said they have purchased a product after seeing an influencer or content creator post about it online."

"'The shopping, known as social commerce, is a turn away from the marketplaces, like Amazon.com Inc.’s big virtual storefront, that offer up arrays of products and have been the foundation of e-commerce sales."

"About $37 billion in goods and services were purchased last year in the U.S. via social commerce, up from $27 billion in 2020"

"Professional content creators on apps like TikTok or Meta Platform Inc.’s Instagram post videos of themselves using items from carpet cleaners to holiday decorations. The videos present a little like QVC for Gen Z as creators prop their phones up and speak right into the camera"

"Viewers often can click a link to buy an item right away"

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