As a social media platform at the forefront of the overseas e-commerce sector, Tuke has not had an easy journey throughout 2023. It has faced continuous challenges, but has always moved forward with determination, striving amidst adversity.
Now, Tuke will take everyone to look back at 2023 and see what major events Tuke has experienced that are closely related to us.
Major Event 1: Tuke Shop Releases New Requirements for Cross-Border Store Inspection
In January 2023, Tuke Shop established an inspection period for new cross-border stores.
All newly settled cross-border stores, whether independent sellers or those invited directly, must go through an inspection period.
During this period, sellers’ orders are subject to “newcomer restrictions,” meaning self-registered (general recruitment) sellers’ stores are limited to 10 orders per day, while stores of invited sellers (targeted invitation) are limited to 50 orders per day.
Stores need to undergo a 60-day inspection period and must reach a cumulative order volume standard to pass the inspection and lift the restrictions.
Major Event 2: Launch of Cross-Border Main Category Control and Opening of Food Category
Starting February 1, 2023, Tuke Shop no longer allows sellers to choose three categories for sales, but requires them to focus on one specific category.
For sellers who already have multiple categories, the final category will be determined based on sales volume, number of online products, and the earliest main category.
Additionally, Tuke Shop opened the previously unavailable food and grocery category, including baking ingredients, snacks, etc., but alcoholic beverages and SG-chewing gum categories are excluded.
Major Event 3: Tuke Shop Mall Launches in Four Southeast Asian Countries
In 2023, Tuke Shop Mall was successively launched in four Southeast Asian countries: Thailand, the Philippines, Vietnam, and Malaysia.
The mall provides detailed product categorization, making it easier for users to search. In addition, the mall regularly releases limited-time flash sales and special offers to attract users to purchase. The mall page is prominent, located next to the homepage, with high exposure.
However, Tuke Shop Mall also requires merchants to submit more comprehensive qualification reports and pay higher deposits. This is to ensure product quality and merchant credibility. But this may also exclude some small or new merchants.
Major Event 4: U.S. Holds Hearing on Tuke
On March 23, 2023, the U.S. House of Representatives held a five-hour hearing themed “Data Privacy and Child Safety.” During the hearing, representatives expressed concerns about the short video social platform Tuke, believing it may negatively impact the physical and mental health of teenagers and potentially manipulate content through algorithms to brainwash young Americans.
Major Event 5: Tuke Shop Officially Announces Full Hosting Launch
On May 16, 2023, Tuke Shop officially launched the “Full Hosting Model,” which has three main advantages: fast payment, worry-free operation, and stress-free sales.
This model eliminates exchange rate risks; sellers only need to submit products and supply goods, while logistics, import/export customs clearance, and fulfillment are all handled by Tuke Shop. Tuke Shop also promises not to charge sellers any platform commission, deposit, traffic fee, entry fee, or overseas logistics warehousing costs.
Major Event 6: Montana Announces Comprehensive Ban on Tuke
On May 17, 2023, the Governor of Montana signed a bill to comprehensively ban Tuke, which will take effect on January 1, 2024. App stores such as APP Store and Google Play will face hefty fines for providing Tuke downloads within the state. Tuke countered that the bill infringes on user rights and stated it will defend users’ rights.
Major Event 7: Cancellation of Semi-Closed Loop, Tuke Shop Fully Opens in the U.S.
On September 12, 2023, Tuke decided to cancel the semi-closed loop model in the U.S. and fully open Tuke Shop.
After opening, users can complete the purchase process directly on the platform, and Tuke can effectively track and monitor transaction steps to resolve issues in a timely manner. The fully closed-loop model also helps Tuke accumulate user data, better understand user needs, and provide reference for its e-commerce sales strategies.
Major Event 8: Tuke Shop Indonesia Shutdown and Return
Tuke Shop officially shut down in Indonesia on October 4, 2023. However, it did not stop seeking new opportunities.
On December 11, 2023, Tuke reached a strategic cooperation with Indonesia’s GoTo, planning to acquire more than 75% of Tokopedia’s shares for $840 million and integrate its Indonesia business with Tuke Shop. Therefore, it can be said that Tuke Shop officially returned to Indonesia.
Major Event 9: Tuke Shop’s Impressive Black Friday Performance
From October 27 to November 30, 2023, Tuke Shop held Black Friday promotional activities, providing sellers with generous shipping discounts and subsidy offers. According to data, the U.S. market’s payment GMV increased by more than 215% month-on-month during the event, and the mall’s payment SKU order volume reached 1212%. The UK market’s overall payment GMV grew by 191%, and GMV on Black Friday itself surged by 368%.
Looking ahead, Tuke will face more opportunities and challenges in 2024, which is something to look forward to.