TikTook has been embracing on-line procuring and companies over the previous couple of years. They have moved a great distance from being merely an app the place folks lip-synched to their favourite tunes and turn into one of many main platforms for social commerce. TikTook formally launched TikTook Shop in mid-2021, initially trialing it in a choice of Asian nations, later increasing their trial to the United Kingdom. They opened it as much as United States customers in September 2023 (after a brief beta interval) to make social commerce accessible to a large viewers. In the method, they’ve made TikTook a specialised search engine for these preferring to buy on-line with out leaving their favourite social app. Holders of TikTook enterprise accounts can now promote inside TikTook and use Live Shopping and procuring movies. So how profitable has TikTook Shop been? How a lot income has it generated and what have folks used TikTook store to purchase? Has utilizing social media had a lot influence on customers’ procuring selections? To reply these questions and extra, we now have collated as many TikTook Shop stats as we may discover.Top 13 TikTook Shop Stats for 2024:
1. More Than 80% of TikTook Shop Sales to Date Have Been in Southeast Asia, But There Have Now Been Notable Sales within the USA and the UK (in Terms of Value)TikTook Shop has rapidly turn into a preferred solution to store, significantly in Southeast Asia. According to Aftership, the entire Gross Merchandise Value (GMV) of gross sales on TikTook so far has been $11.09 billion. GMV is outlined as the entire worth of merchandise offered over a given interval by way of a customer-to-customer (C2C) change website, i.e. the worth of products offered over an eCommerce platform. An evaluation of gross sales on TikTook Shop shops exhibits that Southeast Asian nations maintain the highest 5 positions on the platform by way of GMV, totaling greater than 80% of the Total GMV on the platform within the final 12 months. The Total GMV and proportion share for these nations are:
Thailand – $2.85 billion GMV, 25.66% share
Vietnam – $2.31 billion GMV, 20.79% share
Malaysia – $1.63 billion GMV, 14.68% share
Philippines – $1.44 billion GMV, 12.98% share
Indonesia – $1.34 billion GMV, 12.05% share
The United States of America and the United Kingdom are the following two nations by way of GMV:
United States – $853.32 million GMV, 7.70% share
United Kingdon – $603.35 million GMV, 5.44% share
The important cause for this comparative disparity between nations pertains to how TikTook rolled out TikTook Shop when in beta. The whole GMV for the United States (and to a lesser extent the UK) pertains to a significantly shorter promoting interval than it does for the Asian nations. As we see within the subsequent stat, that is much more apparent when taking a look at gross sales quantity. US and UK customers have tended to spend rather more per transaction, making their share of Gross Merchandise Value a lot larger than their share of the amount of gross sales.2. More Than 95% of Sales by Volume have been Made in Southeast Asia We have seen from the Aftership knowledge that there have nonetheless been significantly extra items offered by way of TikTook Shop by shops within the unique Southeast Asia trial nations than within the United States and the United Kingdom. And gross sales exterior these markets have been only a few certainly. 95.88% of gross sales have been made to TikTook customers based mostly in Thailand, Philippines, Malaysia, Vietnam, Indonesia, and Singapore.Aftership doesn’t specify the timeframe of its knowledge, and it seems to cowl from TikTook Shop’s inception. If that’s the case, then it must be no shock that the majority of the gross sales made have gone to the unique trial nations.The whole gross sales quantity and the share share of gross sales quantity on TikTook Shop to this point has been:
Thailand – 512.79 million gross sales, 25.84% share
Philippines – 500.51 million gross sales, 25.22% share
Malaysia – 311.03 million gross sales, 15.67% share
Vietnam – 296.21 million gross sales, 14.93% share
Indonesia – 272.9 million gross sales, 13.75% share
United States – 45 million gross sales, 2.27% share
United Kingdom – 42.39 million gross sales, 2.14% share
Singapore – 3.4 million gross sales, 0.17% share
These figures will undoubtedly change as soon as we now have full-year figures for the United States, United Kingdom, and different nations with little or no participation in TikTook Shop so far.3. 11% of US Households Have Made a TikTook Shop BuyThe United States should still have a comparatively low proportion of whole TikTook Shop gross sales, however in accordance with an Earnest Analytics Case Study on the platform bank card knowledge signifies that over 11% of US households have made a TikTook Shop buy because the platform’s debut in that nation. TikTook’s already sturdy social media place gave its Shop the flexibility to rapidly scale, benefiting from its intensive promoting attain and promotions in the course of the 2023 vacation season.TikTook Shop gross sales peaked at 145% larger in November 2023 in comparison with its first month, though have stabilized at a (barely) decrease degree since. By February 2024, US gross sales have been 219.4% larger than in TikTook Shop’s first US month.4. More Than 50,000 TikTook Shops in IndonesiaWe have noticed how, with TikTook Shop nonetheless being so new, most gross sales (each by GMV and quantity) have occurred in Southeast Asia. Perhaps it’s inevitable that the very best proportion of shops on the platform are additionally based mostly in that a part of the world, though the variety of US TikTook Shops is relatively larger than you’ll anticipate at this stage of the platform’s evolution. Aftership studies that there are 264.48K shops in whole promoting by way of TikTook Shop. The geographical distribution of those shops is as follows:
Indonesia – 54.28K shops, 20.52% share
Thailand – 48.37K shops, 18.29% share
Vietnam – 46.38K shops, 17.54% share
Malaysia – 34.23K shops, 12.94% share
United States – 31.29K shops, 11.83% share
Philippines – 30.78K shops, 11.64% share
United Kingdom – 16.38K shops, 6.19% share
Singapore – 2.74K shops, 1.04% share
In addition to the above record, 38 shops promote on TikTook Shop which are based mostly elsewhere.5. Wide Variety of Stores on TikTook Shop, But the Largest (*13*) are Womenswear & Underwear and Beauty & Personal Care (Nearly 15K Stores Each)As a sign of simply what number of several types of merchandise you’ll find on TikTook Shop, Aftership lumps greater than half of TikTook Shop’s 264.5K shops collectively within the Other class (50.03%). It categorizes the remaining 132.16K shops into the next classes (the odds proven are of the entire shops determine):
Womenswear & Underwear – 14.93K shops (5.64%)
Beauty & Personal Care – 14.79K shops (5.59%)
Home Supplies – 13.58K shops (5.13%)
Menswear & Underwear – 13.43K shops (5.08%)
Fashion Accessories – 13.25K shops (5.59%)
Muslim Fashion – 12.95K shops (4.90%)
Food & Beverages – 12.62K shops (4.77%)
Phones & Electronics – 12.5K shops (4.72%)
Shoes – 12.23K shops (4.62%)
Sports & Outdoor – 11.89K shops (4.50%)
The above figures present that Clothing/Apparel is clearly the primary kind of product that companies market in TikTook Shop. If we isolate Womenswear & Underwear, Menswear & Underwear, Fashion Accessories, Muslim Fashion, and Shoes, we discover 66.79K shops (ignoring any area of interest attire objects included in Other), making up 25% of all TikTook Shops.6. Nearly 5% of all Stores on TikTook Shop and 4.5% of Sales (GMV) Relate to Muslim FashionWestern readers could also be shocked to study that there are 12.95K shops (5.59%) promoting Muslim vogue on the platform. They have offered 96.92 million merchandise (4.88%) and the worth of those gross sales has been $506.00 million (4.56%). However, that is very a lot associated to TikTook having trialed TikTook Shop in Southeast Asia for longer than anyplace else. There are 277 million Muslims in Southeast Asia (40.8% of the area’s inhabitants), with 231 million Muslims in Indonesia alone. Therefore, it’s unsurprising that Muslim vogue at present has such a distinguished place in TikTook’s general statistics right now. 7. Beauty & Personal Care Products Are the Highest-Grossing Category on TikTook ShopWe have seen that shops at TikTook Shop promote merchandise in a variety of classes, so many who Aftership lumps half of them into an Other class to make reporting manageable. When you have a look at Gross Merchandise Value (GMV), nevertheless, there are a number of classes that dominate TikTook gross sales. Remember, GMV displays the financial worth of transactions inside the TikTook eCommerce platform.The highest-grossing product classes on TikTook Shop are:
Beauty & Personal Care – $2.49 billion GMV, 22.50% share
Womenswear & Underwear – $1.39 billion GMV, 12.56% share
Menswear & Underwear – $893.54 million GMV, 8.06% share
Food & Beverages – $759.84 million GMV, 6.85% share
Health – $600.42 million GMV, 5.42% share
Muslim Fashion – $506 million GMV, 4.56% share
Home Supplies – $457.50 million GMV, 4.13% share
Phones & Electronics – $430.50 million GMV, 3.88% share
Baby & Maternity – $412.59 million GMV, 3.72% share
Shoes – $403.50 million GMV, 3.64% share
8. TikTook Shop Sold More Than 2/3 of Total Social Shopping Gross Merchandise Value (GMV) in February 2024According to the Earnest Analytics Case Study, TikTook Shop offered 68.1% of the entire social procuring GMV in February 2024, livestream procuring app Whatnot captured 31% of GMV, and the remaining 0.9% was shared by Instagram Checkout, Facebook Shop, and Flip App. Clearly, social commerce is in its infancy and has been slower to take off than some initially projected. TikTook Shop outgunning its Meta opponents by such a big margin could have Mark Zuckerberg pondering laborious, though these statistics don’t embody commerce on Facebook Marketplace. EMarketer notes that 64.6 million US customers are anticipated to purchase one thing by way of Facebook this 12 months, in comparison with 40.7 million on TikTook if you embody Facebook Marketplace gross sales. 9. More Than 80% of TikTook Shop Sales Come from Repeat CustomersThe Earnest Analytics Case Study discovered that 81.3% of TikTook Shop gross sales got here from present prospects in February 2024. This was up significantly from November 2023, when the repeat buyer charge was solely 64% – a logical change with TikTook Shop being so new within the US at that time.This exhibits that TikTook Shop has confirmed common with its early adopters who’ve continued to make purchases utilizing the platform.10. Shoppers Earning Between $55k-$90k a Year Are the Largest US Spenders on TikTook ShopThe Earnest Analytics Case Study additionally broke down the demographics of those that used the bank card system to make purchases by way of TikTook Shop. Earnest Analytics doesn’t specify it, however their commentary suggests all their knowledge pertains to USA purchases solely. They discovered that TikTook Shop gross sales grew quickest amongst buyers incomes between $55k-$90k a 12 months throughout its first 6 months within the USA. This vary straddles the US median revenue. This means that TikTook Shoppers skew barely extra prosperous than the common TikTook person (who is usually a Gen Z).11. 18-24 Year-Olds 3.2x As Likely the Average Shopper to Spend Using TikTook ShopWhereas it tends to be comparatively prosperous buyers who use TikTook Shop, that doesn’t imply that TikTook’s typical Gen Z customers aren’t buying on the platform. The probability that different-aged buyers spend on TikTook Shop decreases with every older age group, though buyers appear to want utilizing the platform greater than common buyers up till their mid-50s. According to the Earnest Analytics Case Study, in comparison with the common shopper:
18-24-year-olds are 3.2x extra possible to make use of TikTook Shop than the common shopper
25-34-year-olds are 1.8x extra possible to make use of TikTook Shop than the common shopper
35-44-year-olds are 1.3x extra possible to make use of TikTook Shop than the common shopper
45-54-year-olds are 1.1x extra possible to make use of TikTook Shop than the common shopper
55-64-year-olds are 0.7x extra possible to make use of TikTook Shop than the common shopper
65+ year-olds are 0.3x extra possible to make use of TikTook Shop than the common shopper
12. TikTook Shop Was Expected to Lose Over $500 Million within the US in its First YearThe Information reported that TikTook was anticipating to lose over $500 million within the US in its first 12 months due to ByteDance’s important investments to rent workers, construct a achievement community, and incentivize sellers by providing free listings, free delivery, zero commissions, and warehousing house. TikTook anticipated that each day procuring quantity would steadily rise, presumably exceeding $10 million by year-end. As we will see from the GMV figures above it isn’t at that degree but, however TikTook Shop seems to be common with US customers, and will probably be attention-grabbing to see precise outcomes for TikTook Shop’s first US 12 months.13. 97% of TikTook Shop Customers Also Use Amazon (with 12% of Amazon’s, in flip, Using TikTook Shop)In maybe the least shocking statistic from the Earnest Analytics Case Study we spotlight right here, practically all TikTook Shop purchasers (97%) additionally store at Amazon. Arguably extra curiously, 55% of TikTook Shop customers store at Etsy, 39% use Temu, 38% Old Navy, and 37% Shein. Conversely, 12% of Amazon’s prospects use TikTook Shop, and 17% of Etsy’s prospects use the platform, as do 25% of Temu’s prospects, 16% of Old Navy’s prospects, and 28% of Shein’s prospects.Wrapping Things UpTikTook Shop continues to be in its early days – it’s nonetheless solely accessible in Southeast Asia, the United States, and the United Kingdom – however it’s quickly rising as a preferred means for TikTook customers to have interaction in eCommerce. It is already a significant pressure in social commerce, arguably performing higher than Meta’s equal choices on Facebook and Instagram.It can be significantly attention-grabbing to see how these statistics change as soon as TikTook Shop has operated within the US for over a 12 months, and as soon as TikTook expands it to the remainder of the world.
About the Author
Writer
Nadica Naceva, Head of Content at Influencer Marketing Hub, is a seasoned author and reviewer with in-depth experience in digital and content material advertising and marketing. Leveraging her intensive expertise in guiding content material creation and strategic path, Nadica brings a important eye and analytical method to reviewing articles and academic items. Her dedication to accuracy, integrity, and innovation with every evaluate helps IMH develop as a number one supply in influencer advertising and marketing. Her insights are backed by first-party knowledge, guaranteeing content material meets the very best requirements of relevance.
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