This document is the TikTok Shop US Station 2024 Q1-Q3 Market Analysis Report, with a core focus on the market conditions of the US station, providing key data and strategic guidance for e-commerce practitioners.
1. Market Size and Growth Trend: Since its opening in mid-September 2023, the US station has developed rapidly. From January to September 2024, total GMV is approaching $6 billion, accounting for over 25% globally. Growth varies by quarter, with Q4 expected to see a quarter-on-quarter increase of over 300%, reaching more than $5.2 billion, and annual GMV exceeding $11 billion. The number of active stores reached 190,400 by September, with local stores accounting for 90%. The advantages of local stores are highlighted by policy and operational convenience.
2. Product Price Segment Analysis: Products under $10 lead in sales volume, but the $20-$30 price segment has the highest total GMV, accounting for 22%. Products over $30 show huge potential; for example, products over $100 have millions of orders, with GMV close to 10% of the site, reflecting the high-value customer market waiting to be further explored.
3. Hot-Selling Category Insights: Personal care & beauty, women's apparel, health, sports & outdoors, and collectibles rank as the top five hot-selling categories. Personal care & beauty leads with GMV over $1.1 billion, health rebounded after fluctuations, sports & outdoors remained stable, and collectibles rose first then declined. The bottom five categories, such as mobile phones and electronics, also performed well, with furniture showing a standout growth rate of over 900 times.
4. Hot-Selling Store Scan: The Top 10 stores are all local, with GMV exceeding $30 million. Personal care & beauty and health categories each account for three stores. The cross-border brand Halara performed excellently, with its success attributed to multiple factors, such as leveraging platform dividends, short video marketing, KOL and UGC-driven strategies, live streaming conversion, and precise positioning and design.
5. EchoTik Platform Recommendation: As a professional TikTok e-commerce data assistant, EchoTik is well-funded with a professional team. Its rich features include precise product selection, influencer screening, live room monitoring, and numerous data indicators. The ecosystem is complete, including communities, report releases, cross-border announcements, and daily news, helping users efficiently operate their TikTok business.
