In TikTok e-commerce data, most Southeast Asian countries show a growth trend, among which Thailand, Vietnam, and Malaysia have seen significant sales growth, and the growth rate in the second half of the year is significantly faster than that in the first half of the year. In terms of the European and American markets, the British market has grown slowly throughout the year, and the actual operating environment of the current British station has worried many practitioners.
Since September 12 this year, TikTok officially launched its e-commerce business in the United States and launched TikTok Shop closed-loop stores, and the entire American market is full of confidence, and the number of small stores has increased nearly 100 times. At present, the average one-day GMV in the U.S. market is 26 30 million US dollars, and the previous fault leading the Indonesian market "strength", it can be seen that its growth rate is fast, in short, when the traffic floodgates are opened, it is possible to seize the first wave of dividends as soon as possible.
Behind the increment, it is urgent to pay attention to content planting. Increment is just a number, but it is certain that all the ways to make money have been opened, and merchants need to see that the value behind it lies in the mining of subdivided categories and explore the blue ocean of high sales and low number of goods. At present, GMV is in three ways: short**, live broadcast and **, and the influencers with short** as the content carrier occupy most of the commodity transactions in the U.S. market.
Compared with the very considerable number of TikTok users, the UK station of TikTok Shop shows a trend of high field view and low conversion, which seems to be a bit "unsuitable". In the first half of the year, the number of small stores in the British market grew slowly, and the growth rate of the number of stores accelerated since August. Judging from the trend of small store openings with a month-on-month increase of nearly 50% and the sales data of the same positive growth, the UK market undoubtedly has strong consumption potential as the first stop of TikTok's strategy in Europe. However, due to the conservative shopping culture and consumption habits, the form of short-term goods is not very popular. How to reverse the consumption concept of TikTok users and transform it into a user group of TikTok Shop is a topic that TikTok UK and merchants need to overcome together.
As the second largest economy in Southeast Asia, with Thailand's significant user penetration rate, the performance of e-commerce has lived up to expectations, and the growth trend of the number of small stores in 2023 will be stable, and the growth rate will slow slightly in the second half of the year. Compared with Q2 and Q3, Thailand's short ** and live broadcast proportion has no significant fluctuations, of which live e-commerce accounts for nearly 40% of the proportion, with the improvement of merchants' live e-commerce sales capabilities, it is expected to take more share of Thailand's social ** market value, and then become a new outlet for the development of e-commerce in Thailand. In Q3, the month-on-month growth of the Thai market showed a steady upward trend. In the third quarter, the overall number of small stores increased significantly, showing the confidence of merchants in the sustainable development of the Thai marketThe sales volume has increased significantly, and the sales of goods have increased by more than 50% quarter-on-quarter, and the market potential has been further tapped. The short-lead traffic pool has been broadened again, reflecting the great enthusiasm of Thai consumers for the short-core content e-commerce model.
As one of the hottest markets in Southeast Asia, the number of TikTok stores in Vietnam will be soaring in 2023, and the number of short ** with goods and the number of live broadcast rooms will account for "five or five open" in Q2, but the proportion of short** with goods in Q3 is slightly better, and the possibility of tilting towards short** goods will not be ruled out in the future. In the torrent of gold making in Southeast Asia, countries with large population bases and high per capita customer consumption will be the first to be favored by Chinese cross-border merchants. Vietnam does not seem to have an advantage in either aspect, so much so that it has become the "pearl" of the early Southeast Asian e-commerce giants Shopee and Lazada. However, compared with the data of Q2 and Q3, the market share of TikTok in Vietnam has increased steadily, and the TikTok Shop market in Vietnam with high potential has become an important option for Chinese merchants to go overseas.
Affected by the turmoil of TikTok Shop's delisting, the trend of Indonesia, which is unbeatable in Southeast Asia, has taken a sharp turn. Two months after the shutdown of the Indonesian station, TikTok regrouped and reached a cooperation with Goto, the largest local technology company, to restart the e-commerce business of the Indonesian station. This cooperation is of great significance to TikTok, which not only means the re-emergence of TikTok in the Indonesian market, but also an important part of its globalization strategy. With the strong alliance between TikTok and GoTo, the Indonesian e-commerce market will usher in new development opportunities, and TikTok's layout in the global market will also be more in-depth and perfect. With the support of the Philippines, the cross-border ** taxes and fees of local e-commerce enterprises have been greatly reduced, the growth rate of the scale of Philippine TikTok e-commerce business has not been significantly weak, and the trend of small stores in the Philippines has grown rapidly, and the number of small stores has increased by more than 3 times in one year. Indonesia and the Philippines, as the leaders in the Southeast Asian market, are on the rise in overall sales, but due to cultural diversity and other factors, merchants still need to adapt to local conditions and create differentiated strategies when selecting products. It is worth noting that even in the Philippines, even with a small proportion of the overall number, the number of stores is still 39% in Q3**, and the market performance is strong.
In 2023, the number of small stores in Singapore will rise sharply, and there will be no decline. It is worth noting that, unlike the performance of most cross-border market data, in the Singapore market, the number of live broadcast rooms with goods is stronger than that of the short ** with goods, and the proportion is almost monopolistic in Q3. It is foreseeable that the Singapore market will be swept by a wave of live streaming, and merchants need to fully consider the influence of Dabo and store planting when bringing goods.
Judging from the trend of the number of TikTok stores in 2023, Malaysia has soared, and it is the most unmissable high-potential market for cross-border merchants to enter the Southeast Asian market. Compared with live broadcasting, consumers in Malay stations are obviously inclined to short-term delivery, and merchants can focus on developing a short-term delivery business model when entering the game. Compared to other Southeast Asian countries, the Muslim fashion category is quite popular in the Malaysian market. As a valuable blue ocean in the current global market, Southeast Asia has a tendency to be on an equal footing with European and American countries in the TikTok e-commerce market. Singapore and Malaysia, although the smaller markets in Southeast Asia, still showed a steady and orderly GMV growth trend, and the number of small stores in Singapore and Malaysia showed a collective upward trend in the third quarter.
Operational strategy recommendations
1. Look at the trend. Look at the hot spots from the topic, gain insight into the trend of grass planting, analyze the data of the industry, subdivided categories, etc., quickly find the next market opportunity point, lay out the first chain, and detonate the market.
2. Select explosive products. Dig into the hot list, get TikTok hot products and hot models in real time**, and update the sales ranking in a timely manner in multiple cycles. 3 seconds to dig up the potential of explosive products, stimulate the best creativity, and promote the sale of goods.
3. Look right. Through the soaring list and advertising library provided by the advertising module and the data analysis of influencers, real-time monitoring of changes in competitive marketing actions, and quickly grasp the popular sales of competitive matches, marketing strategies, material creativity and effects.