This report mainly focuses on the situation of TikTok Shop in 2024, covering aspects such as the current status of sellers, policy changes, overall market data, analysis of shops across all sites, and ideas for creating best-selling categories, providing operational references for sellers.
- Current Status of TikTok Shop Sellers
- Market Layout: More than half of the sellers are positioned in the US region (57%), the UK accounts for 13%, and in the Southeast Asian market, Thailand accounts for 9% and Vietnam 6%.
- Sales Categories: Showing diversification, with fashion apparel and beauty accounting for 17%, mobile digital, toys & hobbies, and home daily necessities accounting for 12%, 12%, and 15% respectively.
- Operational Stage: Nearly half of the sellers enter the market with low-cost trial and error, 62% of sellers saw annual revenue growth, 19% remained flat, and 19% declined.
- Operational Difficulties: Product selection, marketing, and policy changes are the main difficulties, accounting for 23%, 21%, and 18% of concerns respectively.
- TikTok Shop Policy Changes and Overall Market Data
- Policy Changes: Multiple policies were introduced in 2024, such as the launch of the full escrow deposit policy on January 18, and the start of the "Industrial Belt 100 Plan" on March 1, etc.
- Overall Market Data: The global total GMV exceeded $28.1 billion, with the US site leading at $6.8 billion. Each site is affected by seasonal factors, resulting in GMV fluctuations. Indonesia has the highest sales volume, while Singapore has the highest average order value.
- TikTok Shop All-Site Store Analysis Report: Analyzes the best-selling categories and annual TOP5 stores in sites such as the US, UK, Indonesia, Thailand, Vietnam, the Philippines, Malaysia, and Singapore. For example, health supplements are hot-selling in the US, and Micro Ingredients store has the highest GMV, etc.
- TikTok Shop Best-Selling Category Creation Ideas: By summarizing the elements of best-selling products in categories such as skincare, beauty tools, and household cleaning & storage through various case studies, it provides marketing references for merchants.
