TikTok Weekly News | TT Store Shows Eye catching Performance in the Malaysian Market

2023 has quietly passed, and in these last few days of the Year of Tuke, a lot has happened on TikTok. Let’s take a look together!

US Region:

1. New York (#NewYork) became the most popular US state on TikTok in 2023:Global views reached 42.4 billion!

2. Common reasons for TikTok Shop closures in the US:1) Inconsistent information registration; 2) Inconsistent shop compliance delivery; 3) Potential high-risk sellers: fake orders, low-price traffic pulling, high shipping fee settings; 4) High-risk sellers; 5) Abnormal order subsidy activities: involving fake orders or subsidy abuse; 6) Policy compliance: involving logistics compliance, product compliance, and operational compliance; 7) Listing infringing products; 8) Virtual warehouse issues; 9) High negative reviews; 10) IP or hardware facility association issues.

3. TikTok Shop announces free shipping promotion plan in the US:Orders using TikTokShipping, first purchase order amount of $5 or more, returning customers $20 or more can enjoy free shipping. TikTok will reimburse up to $40 for standard shipping and $80 for express shipping.

Indonesia:

1. TikTok faces a 4-month test in the Indonesian market:TikTok needs to completely separate TikTok Shop from Tokopedia operations, and transaction steps must be transferred to the Tokopedia platform. The next 3-4 months will be a trial period. If TikTok cannot make changes as required by regulators, it may be banned again.

2. Indonesia’s e-commerce transactions will expand in 2024:The chairman of the Indonesian E-commerce Association said he is very optimistic about the growth of e-commerce platform transactions next year. Despite various issues that may affect the market, consumers are increasingly accustomed to and comfortable with shopping on digital platforms. According to the 2023 Southeast Asia Internet Economy Report, Indonesia’s economy is expected to continue growing and reach $110 billion by 2025.

Malaysia:

1. TikTok Shop performs outstandingly in the Malaysian market:It has attracted more than 1 million sellers and 1.7 million co-creators to join. Latest data shows that in the second quarter of this year, TikTok Shop Malaysia sellers’ sales increased by nearly 50%, and the number of sellers joining also increased by 78%.

2. From 2023 to 2028, the number of e-commerce buyers in Asia is expected to increase by about 52%:According to Statista’s forecast, this growth will increase the number of e-commerce buyers from 1.33 billion to 2.03 billion. In 2023, China had 884 million consumers shopping online, while the US had only 254 million. In addition, Southeast Asia is also a region with a huge consumer base.

3. TikTok self-heating cat bed topic exceeds 1 billion views:Self-heating cat beds, as a specialized pet product, are designed to provide cats with a comfortable and warm resting space. Currently, the TikTok topic tag “cat in heated bed” has about 13.6 billion views, and more and more users are sharing adorable photos of their cats lounging in warm beds on the platform.

Vietnam:

1. Over 427,000 Lunar New Year decorations sold monthly in Vietnam:E-commerce data released the 2024 Lunar New Year decoration market report, showing that from November 25 to December 24, 2023, Lunar New Year decoration products on Shopee, Lazada, Tiki, and Sendo platforms generated a total revenue of 920 million Vietnamese dong, with over 427,000 orders sold. Compared to the same period before the 2023 Lunar New Year, revenue in this category increased by 56%. It is expected that in the 2024 Lunar New Year, the decoration market will earn 6.47 billion Vietnamese dong through e-commerce platforms, and about 2.7 million products will be sold on e-commerce platforms in the two months before the 2024 Lunar New Year.

2. E-commerce accounts for 70% of Vietnam’s digital economy:The Director of the E-commerce and Digital Economy Department of Vietnam’s Ministry of Industry and Trade said that in 2023, Vietnam’s retail e-commerce market size is expected to reach $20.5 billion, an increase of about $4 billion compared to 2022. E-commerce now accounts for nearly 70% of the digital economy, proving that e-commerce has become the biggest driving force of Vietnam’s digital economy.