If you aren’t familiar with the platform LTK (formerly RewardStyle and LIKEtoKNOW.it), it is the largest Influencer Marketing platform serving 200,000+ creators, 6,000 brands and millions of shoppers worldwide.
In 2021 SoftBank Vision Fund invested $300 million in LTK. After highlighting a product in a post, creators will typically provide a link in their bio to guide followers to the item on LTK where it can be purchased. Users can also follow their favourite creators directly on the LTK app. Creators will typically earn a commission from these sales. The trend represents a widely growing sector: spending on influencer marketing in the U.S. was expected to top $4 billion last year, according to eMarketer.
Only last week did LTK announce that it sold $3.6 billion worth of goods in 2022.
The eight most popular products of 2022 were predominately cosmetics items: Tarte’s Maracuja Juicy Lip Balm, ELEMIS’ Dynamic Resurfacing Facial Pads, Lancome’s Lash Idôle Lash-Lifting & Volumizing Mascara sold through retailer Ulta) and Dyson’s Airwrap hair styler (sold through QVC).
Homeware items also played a role with Lululemon’s popular crossbody purse, the Everywhere Belt Bag making the list as well as the ‘Insta Famous’ Always Pan and the Gleaming Primrose Mirror from Anthropologie.
This ‘top list’ was decided by LTK using internal data “to evaluate millions of products curated, shared and recommended by LTK Creators,” which “were selected based on engagement, impressions and sales, the “shopper favourites” are “the top products and brands that continue to be most loved by our shoppers year after year.”
