24.2 billion US dollars! American small and medium-sized enterprises create miracles on TikTok!

"Tuke has created job opportunities for 7 million businesses and 224,000 workers in the United States."

On April 4, Oxford Economics released a report titled "Tuke: Helping Small and Medium-Sized Enterprises Grow and Creating Value for U.S. Consumers," which provides a detailed quantification of the economic impact brought by U.S. SMEs using Tuke.

Image source: Oxford Economics

01

Staggering Revenue of $2.42 Billion

According to the survey, in 2023, the direct business impact brought by U.S. SMEs using Tuke was $9.2 billion; the indirect economic impact was $6.6 billion; and the induced economic impact was $8.4 billion. The total of the three:$24.2 billion. As for the jobs provided by Tuke for American workers, it reached224,000, effectively helping to alleviate employment pressure in the U.S.

In response, Blake Chandlee, President of Global Business Solutions at Tuke, said: "Businesses across the United States rely on Tuke's unique features to help them reach customers they otherwise couldn't, create new revenue streams, and increase awareness of their brands, products, and services. This research confirms what we've long known at Tuke: it's a game-changer for small businesses and has a significant impact on the U.S. economy."

The experience of Felicia Jackson, owner of CPR Wrap, is a great example.

CPR Wrap is a patented disposable CPR template that can guide anyone (whether trained or not) to perform CPR accurately. But before Tuke, Felicia Jackson's company once fell into financial crisis, and it was Tuke that brought her hope.

In an interview, Felicia Jackson said it was Tuke that changed her situation: "I couldn't have done this without Tuke's help." "I made over $300,000 in just two days... Tuke really saved my company!"

Outstanding small business owners thriving on Tuke. Image source: Tuke

02

Tuke's Profound Impact on All U.S. Industries

From an industry perspective, data shows that U.S. SMEs have the greatest impact through Tuke in the food and beverage industry, contributing $6.4 billion to GDP in 2023 and supporting 73,000 jobs. The second is the health and wellness industry, contributing $3.9 billion, followed by the business services industry, contributing $3.6 billion.

Tuke profoundly influences the development of all industries in the United States. In addition to the three major industries mentioned above, tourism and travel, beauty and fashion, and education have also seen huge positive changes thanks to Tuke.

--Tourism and Travel

In the tourism and travel industry, Tuke has completely changed the game.

According to Oxford Economics' survey, based on information obtained on Tuke, 98% of surveyed companies developed new products or services or improved existing ones. At the same time, 99% of companies saw increased sales after promoting their products or services on Tuke, and as many as 93% saw their audience grow after posting new marketing content on Tuke. This shows just how significant Tuke's impact is on the tourism and travel industry.

--Beauty and Fashion

In the beauty and fashion industry, SMEs have successfully gained additional income and investment opportunities through Tuke.

95% of businesses said their sales increased after promoting their products or services on Tuke. 71% of businesses gained additional investment through Tuke interactions, ranking second among all industries, just after tourism and travel.

--Education

In the field of education, educational institutions have improved their business models in innovative and creative ways by using Tuke.

72% of institutions said Tuke helped them reach new and diverse audiences within the United States, and about the same proportion (73%) of educational SMEs said Tuke enabled them to reach new audiences in other communities or states. As an industry that needs to compete for students across states, many educational institutions also use Tuke's features to more clearly communicate their institution's unique value (76%) and differentiate their educational services from competitors (84%).

Image source: Oxford Economics

03

Indispensable Tuke

Although Tuke is relatively new to the U.S. market, it has already occupied an important position in the U.S. media and entertainment industry.

Surveys show that among all media and entertainment uses, Tuke accounts for the largest share of total usage time among U.S. consumers; on average, adult U.S. consumers who use Tuke spend about 12 hours per week on the platform, which is two hours more than their second favorite media and entertainment. U.S. businesses are seizing this opportunity to establish stable connections with customers, and more and more U.S. businesses are choosing to join Tuke.

Data shows that 4/5 of respondents joined the app in 2020 or later. More than 1/3 of respondents said that access to Tuke is critical to their business survival. It is also worth mentioning that Tuke not only helps U.S. SMEs meet employment needs, but also brings them potential employees. 68% of respondents said that at least once, someone applied to work at their company after interacting with their Tuke content.

It is not difficult to see that Tuke has played a huge role in promoting the growth of U.S. SMEs and creating value for the U.S. economy. It has not only significantly increased the sales and brand awareness of U.S. SMEs, but has also become an important platform for them to attract investment and innovate products. For many U.S. SMEs, Tuke has already become a key tool for their survival and development.