Holmdel, NJ – September 9, 2024 – Market Performance Group (MPG), are thrilled to announce our acquisition of Team Go, a trailblazing TikTok Shop Partner and Inc. Magazine's #1 Social Commerce Agency of 2024. This acquisition cements MPG’s position at the forefront of social commerce, positioning the agency as a best-in-class resource for brands aiming to revolutionize their connected commerce strategies.
With this strategic move, MPG gains unmatched expertise across all major social commerce platforms—including TikTok Shop, YouTube Shopping, Flip, Meta, and Pinterest—equipping brands with the tools to thrive in the rapidly evolving digital marketplace. Team Go’s early partnership with TikTok as a Shop Partner is a testament to their deep understanding of the platform’s algorithm, trends, and audience behavior, and they have the distinction of being the first agency TikTok onboarded to its prestigious TikTok Shop Partner program. This collaboration ensures that MPG clients’ campaigns will not only be optimized for TikTok’s unique ecosystem but also for the broader social commerce landscape.
“We are excited to be at the forefront of Social Commerce, which is now gaining a strong foothold in the US. It’s the next frontier for eCommerce, and, just as Amazon did, it is redefining how we discover products and how we shop online,” says MPG CEO George Cleary.
“Today’s acquisition gives us unparalleled expertise in harnessing the potential of Social Commerce, enabling us to offer our clients even greater innovative solutions, driving real results in today’s ever-changing retail landscape. It is just the latest example of our unrelenting commitment to support our clients with the top talent, service, client intimacy, and industry influence needed to ensure success.
“The rise of Social Commerce means major new opportunities for brand growth; those that successfully leverage the influence of TikTok and other Social Commerce platforms are highly attractive to retailers. It’s far less expensive to acquire customers, and faster to scale, and the incremental revenue being generated is staggering,” he adds.
Social Commerce continues to capture both consumer mindshare and share of wallet. Americans are spending hours each day on platforms like Instagram, YouTube, and TikTok. This engagement translates to an estimated $75.6 billion in revenue in the US last year. This is expected to nearly double over the next five years, reaching $141 billion.
Some forecasts suggest that the Gross Merchandise Value (GMV) of social commerce could reach $150 billion by 2028. TikTok Shop alone is expected to increase US commerce sales tenfold in 2024, and is tracking towards a $20 Billion GMV.
“TikTok Shop is the fastest-growing eCommerce platform in the world, and it's time to take it as seriously as Amazon. Our mission continues to be focused on helping brands scale and drive revenue, turning on the power of a Social Commerce-enabled digital strategy, notes Team Go Founder & CEO Oliver Bogner. “Joining MPG allows us to deliver our specialized Social Commerce expertise, while leveraging MPG’s broader omnichannel capabilities to provide even greater value to clients.”
Terms of the deal were not disclosed. Global Investment Bank, Canaccord Genuity, advised Team Go on the transaction.
About Market Performance Group
MPG is a leading end-to-end, strategy & services omnichannel commerce agency focused on creating the best PATH FORWARD — from market strategy to in-market reality. Its connected commerce solutions drive growth for many of today’s fastest-growing consumer goods manufacturers and retailers. With unparalleled depth and breadth of omnichannel operating experience, MPG builds and activates strategies that drive brand sales performance wherever and whenever the consumer shops. The company leverages the expertise of seasoned manufacturer and retailer experts with significant experience delivering top-line revenue and bottom-line profit. Its highly regarded team of 520+ strategy and commercialization professionals combine leading-edge omnichannel expertise with strategic consumer, category, and market insights to create competitive advantage and drive profitable brand growth.
MPG offers best-in-class, end-to-end capabilities and integrated solutions for a wide range of strategy and commercialization needs. These include Strategy & Business Consulting, Omnichannel Strategy & Services, Business Analytics & Insights, Consumer Marketing & Retail Activation, Order to Cash/3 PL and FleXforce®, for short- or long-term, plug-and-play support for marketing, sales strategy and other capability areas.