TikTok Shop Sales Account for More than 68% of Total Social Shopping GMV
Jayson 10 Apr 2024 12:03
According to reports on April 10, TikTok Shop was launched in the United States in September last year, allowing American users of the social media application to purchase products directly within the application.
According to the TikTok website, shoppers can browse a variety of categories in TikTok Shop, including electronics, food, women's clothing, and beauty products. TikTok has created an ad campaign highlighting the app's benefits for U.S. users.
According to the CBEC Cross-Border E-Commerce Station (CBEC.100EC.CN), the Earnest Analytics report pointed out that TikTok Shop has dominated social shopping since its launch.
As of February this year, TikTok Shop's sales accounted for more than 68% of the total merchandise value of social shopping. In comparison, the GMV of Instagram Checkout, Facebook Shop and Flip App is less than 1% of the market.
The report also reveals where most TikTok users shop. In the past year, the majority (97%) of TikTok users also shopped on Amazon. More than half of TikTok shoppers (55%) also shopped on Etsy during the same period, followed by Temu (39%), Old Navy (38%), Shein (37%) and eBay (32%).
"Despite significant overlap with some low-price clothing brands such as Shein, TikTok Shop usage so far does not appear to have a negative impact on consumption of the brand." "In the long term, some brands may benefit from this One channel reaches a wider audience, while other brands may risk losing consumer dollars as more consumer attention/time is directed to the platform.”
According to the TikTok website, shoppers can browse a variety of categories in TikTok Shop, including electronics, food, women's clothing, and beauty products. TikTok has created an ad campaign highlighting the app's benefits for U.S. users.
According to the CBEC Cross-Border E-Commerce Station (CBEC.100EC.CN), the Earnest Analytics report pointed out that TikTok Shop has dominated social shopping since its launch.
As of February this year, TikTok Shop's sales accounted for more than 68% of the total merchandise value of social shopping. In comparison, the GMV of Instagram Checkout, Facebook Shop and Flip App is less than 1% of the market.
The report also reveals where most TikTok users shop. In the past year, the majority (97%) of TikTok users also shopped on Amazon. More than half of TikTok shoppers (55%) also shopped on Etsy during the same period, followed by Temu (39%), Old Navy (38%), Shein (37%) and eBay (32%).
"Despite significant overlap with some low-price clothing brands such as Shein, TikTok Shop usage so far does not appear to have a negative impact on consumption of the brand." "In the long term, some brands may benefit from this One channel reaches a wider audience, while other brands may risk losing consumer dollars as more consumer attention/time is directed to the platform.”
