1st Week of September 2024

Steam Mop Hits $100K Daily Sales, Tops TikTok Trending Products in the US

Rising Demand for Health and Wellness Products Boosts Massage Oil to the Top of Malaysia’s Sales Charts

US TikTok E-commerce Sees Positive GMV Growth in August, with Beauty and Women’s Apparel Categories Leading

83% of Malaysian Consumers Rely on Social Media Platforms for Shopping

US GMV Falls Short of Expectations, Livestreaming Hours for Influencers Limited

TikTok Shop Leads the Charge in Black Friday 2024 Preparations

TikTok Southeast Asia Introduces “No Longer Needed” No-Questions-Asked Return Policy

TikTok’s Top 100 Most Popular Fashion Brands Revealed

1. Steam Mop Hits $100K Daily Sales, Tops TikTok Trending Products in the US

According to Shoplus data, a steam mop has recently surged in sales, reaching the top three among TikTok trending products in the US. The product is currently selling 1,100 units daily, generating over $100,000 in daily revenue. The Schenley 7-in-1 Steam Mop has gained popularity due to its multifunctional design, capable of cleaning hard floors, tiles, and crevices, as well as walls, windows, and furniture through its detachable handheld steamer.

Source: Shoplus "Top-Selling Products List"

Since its launch in October of last year, this product has accumulated 63,000 total sales. Influencer marketing has proven highly effective, with top influencers driving the highest sales, followed by smaller creators. Notably, fashion blogger @amba, with 500,000 followers, has generated the highest sales, reaching $435,000.

Source: Shoplus "Related Influencers"

2. Rising Demand for Health and Wellness Products Boosts Massage Oil to the Top of Malaysia’s Sales Charts

With increasing consumer demand for health and natural products, the global massage oil market reached $1.69 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 7.9% from 2023 to 2030. Malaysia, as part of the Asia-Pacific region, is anticipated to be one of the fastest-growing markets globally.

According to Shoplus data, the "Jungle Girl Massage Oil" has reached the top of TikTok’s Malaysia trending products list, with impressive daily sales of 129,000 units and $103,000 in daily revenue. This versatile massage oil offers various therapeutic and wellness benefits, making it highly sought after, especially on social media platforms like TikTok, where it quickly sells out, reflecting its popularity.

Source: Shoplus "Related Influencers"

3. US TikTok E-commerce Sees Positive GMV Growth in August, with Beauty and Women’s Apparel Categories Leading

Shoplus data reveals that US TikTok e-commerce achieved an 8% month-over-month GMV increase in August, reaching $710 million. Among the top categories, beauty and personal care saw an 8% increase (with an August GMV of $130 million), women’s apparel and lingerie grew by 11% (with a GMV of $93 million), and health supplements rose by 13% (with a GMV of $49 million). Conversely, home appliances experienced the largest decline, dropping by 12% month-over-month, followed by automotive products.

Source: Shoplus "Market Trends"

4. 83% of Malaysian Consumers Rely on Social Media Platforms for Shopping

Recent reports indicate that Malaysian consumers are increasingly depending on social media platforms for shopping, with TikTok being their preferred choice. During the 2024 Mega Sales event, TikTok attracted 67 Malaysian brands and over 200 industry leaders to explore user behavior during the shopping season. Statistics show that 59% of users shop online at least once a week, 50% shop while watching content, and 89% make purchases during major sales events. Additionally, high-spending shoppers spend an average of $265 during year-end promotions, significantly boosting shopping conversion rates in the second half of 2023.

TikTok’s research identified four distinct shopper personas on the platform: bargain hunters, casual shoppers, inspiration seekers, and purposeful buyers. These personas reflect different behaviors and preferences, providing brands and sellers with valuable insights into consumer needs. As TikTok continues to grow in Malaysia, its influence on the e-commerce industry is expanding, offering new opportunities and challenges for sellers.

5. US GMV Falls Short of Expectations, Livestreaming Hours for Influencers Limited

According to LatePost, despite TikTok’s global user base exceeding 1 billion daily active users, its US e-commerce business has not met expectations. Although TikTok’s e-commerce in the US has seen a doubling of daily sales (GMV), it still falls short of the daily goal of over $45 million. US users have yet to fully embrace livestream shopping, and the limited availability of influencers, coupled with the thriving offline retail market, has hindered the development of a vibrant livestream e-commerce environment on TikTok. Despite efforts to localize strategies, such as encouraging MCN agencies to train Western influencers and guiding domestic MCNs to expand globally, TikTok continues to face significant challenges.

Challenges for TikTok’s US e-commerce also include user habits and market competition. American consumers tend to compare prices on other platforms after watching livestreams and show little interest in discount coupons and other promotions. Additionally, TikTok’s algorithm recommendations in the US market require further optimization. Compared to competitors like Temu and Shein, TikTok e-commerce lacks price and category advantages and faces stricter regulatory risks and data access limitations. These factors collectively impact TikTok’s growth potential in the US e-commerce market.

6. TikTok Shop Leads the Charge in Black Friday 2024 Preparations

In preparation for Black Friday on November 29, 2024, TikTok Shop has launched a comprehensive strategy, offering cross-border merchants substantial sales opportunities. The platform has introduced the lowest discounts of the year and top-tier promotional support, partnering with mainstream media and celebrities to provide over 5 billion exposures and double the recommended content traffic. TikTok Shop has also rolled out initiatives such as the Zeus Plan, Super Brand Plan, Mind Category Plan, and Best-Selling Product Incubation Plan, providing premium influencer resources and traffic support to help brands incubate best-selling products. Merchants can leverage these benefits and support to enhance sales and seize Black Friday opportunities.

7. TikTok Southeast Asia Introduces “No Longer Needed” No-Questions-Asked Return Policy

Starting August 27, 2024, TikTok will implement a “No Longer Needed” no-questions-asked return policy in Southeast Asia (including Malaysia, the Philippines, Singapore, Thailand, and Vietnam). This policy allows consumers to return products for any reason, as long as the product page has a “Change of Mind” label. The policy will not affect merchants’ store metrics or result in penalties or shipping costs for merchants. While this improves the consumer shopping experience and reduces purchase risks, sellers are concerned about potential abuse of the policy, leading to increased costs for handling return requests and potentially impacting merchants’ interests and the platform’s e-commerce ecosystem. TikTok must balance consumer satisfaction with merchant protection and implement measures to prevent policy abuse.

Source: TikTok Shop

8. TikTok’s Top 100 Most Popular Fashion Brands Revealed

FashionUnited recently published a list of TikTok’s top 100 most popular fashion brands, with Louis Vuitton leading with 14 million followers. Zara and Shein follow with 11.8 million and 9.5 million subscribers, respectively. Adidas and Dior also rank high, with 8.1 million and 8 million followers. These brands have successfully utilized TikTok’s platform by creating unique and visually appealing content and collaborating with celebrities to promote their brands. Louis Vuitton, in particular, has gained popularity by adopting a more user-friendly and interactive content strategy, moving away from traditional brand promotion methods. This list underscores TikTok’s significant role as a platform for fashion brand promotion and consumer engagement.