"2024 Global Consumer Trends White Paper" released, TikTok for Business interprets marketing strategies for new consumer scenarios

introduction

The charm of the overseas market lies in the fact that new opportunities and trends will always emerge.

Whether it is the rapid change of hot trends or the increasing diversification of channels, a new round of overseas trends is emerging. As consumers begin to return to the pursuit of self-pleasing, satisfying interests and showing new ways of expression, emerging products in the fields of health and outdoor are attracting more and more attention from consumers; as globalization gradually deepens, in-depth local marketing insights are also becoming the key to success; similarly, when consumption upgrades and downgrades coexist, how to grasp the consumer psychology behind consumer behavior is also a topic that overseas merchants cannot avoid.

Recently, TikTok for Business and 36Kr Global jointly released the "2024 Global Consumer Trends White Paper". The white paper focuses on the United States and Southeast Asia, and is guided by the research idea of ​​"dual circulation value system". After months of user research, merchant interviews, data analysis, and experience accumulation, it introduces five major trends in the global consumer market in terms of track, channel, price, trend and marketing. Combined with TikTok's rich talent resources, product shelves, short video ads, live broadcast ads and other marketing products, it provides overseas merchants with a new solution for business growth and marketing practice.

Follow the five major trends and grasp the way to break through the overseas business

The " 2024 Global Consumer Trends White Paper" (hereinafter referred to as the "White Paper") starts from the trends of five business operations and user decision-making scenarios: track, channel, price, trend and marketing, and combines TikTok's platform and products to provide overseas merchants with tools and ideas to establish connections with consumers in diverse and complex markets.

In terms of track trends, with the emergence of demands such as "slow life", "healthy consumption" and "self-pleasure economy", consumers are paying more and more attention to healthy life and outdoor activities. According to the survey of the "White Paper", in the Southeast Asian market, the market size of health products and outdoor products is expanding rapidly.

In terms of channels, multiple channels correspond to diverse shopping preferences and product access methods. For example, for products such as furniture and cars, offline channels can better demonstrate their comfort and service experience, while social media not only provides entertainment and life sharing content, but also allows consumers to discover fashion trends in social sharing, gain more shopping inspiration and even surprises.

At the same time, social media has accelerated the breaking of the circle of trendy styles and made fashion styles more segmented. According to the White Paper, 82% of consumers in the Southeast Asian market like new technologies and innovative products. Maintaining "freshness" means maintaining business. In mature markets, the endless emergence of niche trendy styles can attract consumers to follow.

In terms of price, as the polarization of overseas market economy intensifies, consumption upgrades and downgrades coexist. Consumers in mature markets pay more attention to emotional value, and high-premium beauty and skin care, maternal and child care, and technology products are still popular. In emerging markets such as Southeast Asia, "value for money" products are more popular among consumers.

In addition, for merchants, it is particularly important to understand the marketing nodes of local markets in the face of the extremely differentiated cultural characteristics of local markets. Taking the Southeast Asian market as an example, under the multicultural opportunities that cannot be ignored, it is necessary to seize the main religious and festival hotspots; in mature markets such as the United States, large and small nodes are spread throughout the year, and seizing the characteristics of each node will help brands to take advantage of the opportunity to "go out of the circle".

Insight into every consumption trend and the motivations behind it has become the first step for brands to go global. At the same time, forming corresponding strategies for going global based on trend judgment can help businesses find the right traffic code on the road to going global and achieve long-term brand management.

As many consumers begin to use TikTok as a search tool to contact brands and learn about products, TikTok is gradually becoming a source of inspiration for consumers. According to the White Paper, 82.5% of consumers are satisfied with the newness of products on TikTok. Community seeding and word-of-mouth sharing, with hundreds of millions of real users at the core, are constantly narrowing the distance between users and brands, and making TikTok increasingly the main battlefield for brands to connect with real users. At the same time, the rich content resources and product solutions on TikTok are also an important part of helping businesses go global and build brands.

Compared with traditional e-commerce that relies mainly on search traffic, TikTok's unique content ecosystem, such as videos, live broadcasts, and influencers, makes it easier to connect brands with consumers, thereby allowing brands to gain higher trust. TikTok's community-based interest recommendations also make it easier to break through personalized circles, actively push products to users, increase brand awareness and exposure, and speed up product promotion.

Compared with traditional advertising platforms, TikTok has a more three-dimensional and comprehensive full-link shopping experience. Consumers can place orders directly on TikTok Shop for a one-stop shopping experience. They can also jump to other platforms to place orders, or choose other channels to purchase after being attracted.

Leveraging TikTok to operate global business and achieve new heights in overseas expansion

On TikTok, a large number of new trends and hot topics emerge every day, such as slow life, healthy life and other emerging trends are rapidly gaining popularity. TikTok's highly active user groups and interest-based online communities can stimulate emotional resonance under the trend.

According to the White Paper, more than 80% of TikTok users believe that they will show their fashion preferences by purchasing products that match the trend. In order to quickly break through the circle of trendy products, merchants can actively cooperate with TikTok trendsetters to carry out traffic or seeding activities, and use content marketing to quickly break through the circle of brands.

Taking TikTok for Business's "Sampling Plan" as an example, brands can customize an online exclusive sampling center page to guide users to complete tasks, and divert them to offline stores, or express product samples, etc., to form multiple interactions with consumers, and then encourage consumers to share product review videos or product experiences on pages with brand topic tags to enhance brand awareness and sales conversions.

Faced with the current variety of sales channel options, TikTok can cover a variety of sales links, from closed loop, open loop to offline distribution, and can meet the multi-channel needs of merchants.

In a closed-loop ecosystem, multiple scenarios such as live broadcasts, short videos, shopping malls, and searches can provide merchants with TikTok Shop direct sales positions to establish direct links with consumers. For example, in terms of video content, merchants can use appropriate keywords and video materials to intuitively present product efficacy; in terms of talent selection, they can also match the most suitable type and endorse the talents through their professional backgrounds to gain consumer trust. In an open-loop ecosystem, TikTok can also guide merchants to other online self-operated channels such as brand official websites. Therefore, merchants can use TikTok for Business's live shopping ads (LSA), short video shopping ads (VSA), product shopping ads (PSA) and other Shop Ads advertising products to effectively combine products with hot spots in a scenario-based and immersive content format, helping brands expand their influence and exposure.

In addition, for product types that focus on actual experience, merchants can use TikTok to promote products online and drive consumers to experience them offline. For example, in August 2023, during the launch of the L20 Ultra sweeper and H12Dual floor scrubber in the Vietnamese market, the cleaning appliance brand Dreame invited Vietnam's top influencers to participate in the offline press conference and live broadcast online simultaneously. In addition, Dreame also increased the brand's omni-channel exposure by signing brand spokespersons, and combined with TikTok Super Product Day activities and influencer live broadcasts to quickly drive product sales growth.

Dreame uses TikTok to attract offline traffic

When festivals come around in various markets, consumers will flock to TikTok to search for gifts and find shopping inspiration for the festivals. As a result, merchants can not only provide special discounts, creative gifts, value-added services and other benefits during peak consumption periods, but also launch new products and limited-time discounts on new products to leverage the momentum to increase sales.

For example, Toudan Technology (its brand Meoky), a manufacturer specializing in kitchenware , regards the major and minor nodes of the overseas market as opportunities for product iteration. During major nodes such as Christmas, Halloween, and Valentine's Day, Toudan Technology will incorporate holiday elements to provide users with holiday-limited water cups; when the pink craze of "everything is barbie" swept the world, Toudan Technology also seized the opportunity to focus on marketing their pink water cups. "Users' shopping on TikTok is content-driven instant shopping. When users' interests match their needs, or even when users create their own needs after watching the video, they will place orders." said a relevant person in charge of Toudan Technology.

As many Chinese businesses embark on the journey of going global, they are looking for category trends, deepening their roots in the local market, and breaking through brand circles. Each of these is a hurdle on their way to going global. TikTok for Business released the "2024 Global Consumer Trends White Paper", which starts with five major consumer trends and combines TikTok's full platform resources and solutions to provide businesses with more ideas and solutions for business management and marketing strategies on the road to going global, and work with businesses to explore more new possibilities for business growth.

If you want to know more details about TikTok's overseas operations, you are welcome to download the full report for free.

https://www.tiktokforbusinessoutbound.com/insights/vtl?source=othermedia-tonggao

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2024 Global Consumer Trends White Paper