From $665,000 to $737,000, and then to over $1 million, TikTok Shop in the US has attracted much attention due to its frequent record-breaking single-game livestream GMV. Industry insiders previously believed that it would take some time for the US single-game livestream GMV to exceed $1 million, so this record-breaking record is of great significance. FastMoss's monitoring data also shows that last month, there were small stores in the US TikTok Shop with monthly sales exceeding $10 million. All of the above have allowed everyone to see the potential of TikTokShop.
According to eMarketer data, when TikTok launched TikTok Shop (around September last year), about 107 million American consumers shopped on social e-commerce, and by 2027, US social e-commerce sales are expected to increase from US$67 billion in 2023 to US$144.5 billion. When TikTok launched TikTok Shop, TikTok already had 150 million American users in the United States. So who are the users of TikTok Shop?
1. Young people are the main consumers According to the data, Generation Z (12 to 27 years old) should be the main force. According to Search Logistics data, 45% of TikTok users belong to this age group. This means that TikTokShop has 7,500 potential users in this age group (Generation Z and their parents) - as of April this year, TikTok's US users reached 170 million. In this context, young people are more likely to become buyers of TikTok Shop.
Data from Earnest Analytics also confirms this point. The survey shows that adults aged 18-24 are 3.2 times more likely to shop on TikTok Shop than the average data, and adult consumers aged 25-34 are 1.8 times more likely than the average data.
2. Affordable and fashionable products are more popular among users Earnest Analytics ' research further shows that in terms of fashion categories, affordable items on TikTok Shop sell faster. In the year ending in February of this year, 11% of TikTok Shop users bought affordable fashion items, while the proportion of ordinary shoppers was only 7%. In addition, TikTok Shop users have more budget for affordable clothing. Therefore, the user overlap of SHEIN, Temu and TikTok Shop is also higher, at 28% and 25% respectively.
3. Users will still shop on Amazon According to Capital One Shopping Research, one in four Amazon users have shopped on TikTok Shop. Therefore, TikTok users may compare the offers on TikTok Shop with Amazon's Prime Day. Data shows that last year, 58% of Generation Z and 53% of Millennials participated in Amazon Prime Day in 2023, while Generation X and Baby Boomers participated in 40% and 37% respectively.
4. Most of them are repeat customers In addition, eMarketer data also shows that most of TikTok Shop's users are repeat customers. According to eMarketer's report, as of February this year, 81.3% of TikTok Shop buyers were existing customers, up from 64% in November 2023. This is crucial for TikTok because, according to eMarketer's forecast, by 2027, US consumers' annual spending on social media shopping will nearly double.
5. Health and beauty products stand out According to a previous report by Bloomberg, by the end of 203, there were more than 500,000 merchants selling products on TikTok Shop, more than double the number when TikTok Shop was first launched. Capital One's research shows that most of these sellers are brands related to skin, face, and body, and 81% of TikTok Shop's sales in the US come from beauty and health categories .
In addition, Capital One 's research also shows that in the first US holiday shopping season, 5% of consumers bought gifts on TikTok Shop, of which Generation Z accounted for 15% and Millennials accounted for 8%. Considering TikTok's influence and the user growth of TikTok Shop this year, TikTok Shop's performance in this holiday season is worth looking forward to, especially the live broadcast GMV, which is expected to deliver a more impressive report card. TikTok Shop US user |
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