What’s new on Tuke in the past few days? Tuke is here to give everyone a quick look!
△ Major Tuke Events
1. Tuke’s 2024 revenue in this category is expected to reach $15 billion
Looking back at 2023, Tuke became the first non-gaming mobile app to generate $10 billion in consumer spending! Looking ahead to 2024, Tuke expects its consumer spending to further grow, with revenue increasing by 50% to reach $15 billion. It is also expected that users’ online time will increase by 22%, reaching 40 hours per week.
2. 57% of users place orders while using Tuke
Tuke attracts a large number of buyers through its social media influence, with 57% of users placing orders while watching Tuke! This means that in the future, Tuke will continue to compete with Amazon e-commerce and will also go head-to-head with Temu and Shein.
3. Tuke holds 59% of influencer resources in Latin America
As of now, Tuke has concentrated the largest number of influencer resources in Latin America, accounting for 59%, making it the biggest influencer gathering platform in the region! Latin American consumers’ preferences for social platforms are highly aligned with Tuke, and in the coming years, Tuke’s influencer resources in Latin America are expected to continue steady growth.
4. Tuke US daily transaction volume exceeds $20 million
In December 2023, Tuke Shop’s total GMV in the US was about $300 million, with daily transaction volume exceeding $20 million. Among them, the top five product categories by GMV are beauty & personal care, home appliances, and health; beauty & personal care is especially popular among US Tuke users.
△ Policy-related Content
Tuke US stores will temporarily withhold 24% of reserve funds for taxes!
According to the policy issued by Tuke Shop US on December 27, 2023, when a Tuke US store’s sales exceed $20,000 and 200 transactions, sellers will receive tax information before January 31, 2024. If the tax information is incorrect or taxes are not paid, 24% of the total amount (excluding points, discounts, refunds, or any other adjustments) will be withheld. Currently, the withholding method is to temporarily hold the funds as a reserve.
At the same time, Tuke has learned that Tuke US will start rolling reserve funds next month. If sales reach a certain threshold, tax information will be sent. If the information is incorrect or taxes are not paid, after correctly handling tax information and paying taxes, the temporarily withheld funds will be refunded; otherwise, the reserve will be permanently withheld and other operations will be stopped.
△ Tuke Shop Hot-selling Products
1. Pet hair vacuum cleaner Tuke tag exceeds 1.2 billion!
Recently, a pet hair vacuum cleaner has become a viewing sensation in the Tuke US region. The topic tag#PetGroominghas reached 1.2 billion views, and the tag#pethas even higher views, surpassing 200 billion!
2. Fitness products on Tuke generate $3.3 million
A mini stepper in Tuke Shop US has been very popular recently, with total sales reaching 45,400 units and total revenue of about $3.3 million.
3. Low-priced products are hot sellers on Tuke Shop Vietnam
Low-priced products are hot sellers on Tuke Shop Vietnam, with clothing, accessories, cosmetics, food, and beverages attracting a large number of consumers. It is understood that the average value of products sold on Tuke Shop is the lowest, at only 108,000 Vietnamese dong.
△ Other News
1. Malaysian government raises tax on sugary drinks
The Malaysian government announced that starting January 1, 2024, the tax on sugary drinks will increase from 40 sen per liter to 50 sen per liter. The price adjustment by manufacturers will be based on the government’s tax adjustment. This measure aims to control the consumption of sugary drinks and will affect manufacturers’ and merchants’ pricing behavior.
2. Alibaba International launches semi-managed service
Alibaba International announced the launch of a semi-managed service, providing merchants with exclusive marketing campaigns, door-to-door logistics fulfillment, reverse returns service, and other solutions. Merchants can set their own prices and operate independently.
It is reported that recruitment for the semi-managed service will start at 10 a.m. on January 5, and is expected to go live on February 3. In the first phase, sites in the US, UK, Germany, France, Canada, and Mexico will be open, and in the future, 20 more country sites including Southeast Asia will be added.