TikTok Shop records 2.2 times sales growth in 1H 2024
The e-commerce provider said this reflected a shift in Malaysian online consumer behaviour, with shoppers increasingly discovering brands and products through content.
KUALA LUMPUR - TikTok Shop saw a 2.2 times growth in sales, a 1.8 times increase in sellers, and a 1.8 times rise in affiliate creators year-over-year in the first half (1H) of 2024.
The e-commerce provider said this reflected a shift in Malaysian online consumer behaviour, with shoppers increasingly discovering brands and products through content.
In a statement, TikTok Shop Malaysia said its platform offers local entrepreneurs greater opportunities to build lasting homegrown brands by leveraging its comprehensive "Shoppertainment” ecosystem and full-funnel solutions to shorten the browse-to-buy customer journey while building authentic communities.
Citing ‘Dapur Pak Amir’, a local seller with disabilities, TikTok Shop highlighted how the former successfully built over 37,500 store followers and sold more than 19,200 products through content.
"His store even attracted interest from global markets, including Japan, Dubai, and the United States,” it said.
To further boost seller growth, TikTok Shop announced that it would subsidise five times more vouchers and offer dedicated traffic exposure, especially during the year-end sales season, including 10.10, 11.11, and 12.12 sales.
"We have introduced stackable, unlimited free shipping vouchers, allowing shoppers to combine multiple discount and shipping vouchers in a single checkout, a feature that is expected to provide greater value while driving conversion and revenue for sellers,” it said.
On another note, TikTok Shop also recently concluded its flagship annual e-commerce seller empowerment event, ‘TikTok Shop Summit’, in Malaysia. The event aimed to support local micro, small, and medium enterprises (MSMEs) and homegrown brands by unveiling three key updates shaping the future of online shopping.
During the event, TikTok Shop announced a collaboration with the Ministry of Domestic Trade and Cost of Living to promote ‘Kempen Beli Barangan Malaysia’ (KBBM) as part of its #JomLokal initiative.
This campaign will empower over 8,000 local sellers by highlighting 300,000 locally-made products through a dedicated KBBM page.
"From now until Dec 31, 2024, users simply need to search for "KBBM” on TikTok Shop to discover and support local products. To encourage Malaysians to support local brands, shoppers can enjoy discounts of up to 30 per cent, free shipping vouchers, and local creator spotlights,” TikTok Shop added.
Aspiring entrepreneurs, local MSMEs, and homegrown brands can start their e-commerce journey by signing up at the TikTok Shop Seller Center and exploring the step-by-step tutorial courses at the TikTok Shop Academy. - BERNAMA
