This week, a lot has happened again on the overseas social platform Tuke. Tuke will take everyone to have a look together.
Remarkable Achievements
1. Tuke’s 2023 Performance Peaks, Brand Value Soars
Tuke achieved impressive results in 2023, with sales expected to increase by30% year-on-year, reaching110 billion USD. Especially, Tuke squeezed Google and Facebook’s market share in the US advertising business, and saw growth in overseas markets such as the US and Southeast Asia. In addition, Tuke’s brand value rose by11.39% in 2023.
2. Tuke Shop’s Double Holiday Conversion Rate Reaches 115%
Tuke Shop’s fully managed US double holiday promotion report: the hashtag #TukeShopHolidayDeals reached an exposure of486 million; the mall’s single-day click peak reached122%; product click conversion rate was115%.
Policy Updates
1. Tuke Shop Launches Fully Managed Deposit Policy
Tuke Shop cross-border e-commerce will launch a fully managed deposit policy. Starting fromJanuary 18, 2024, it applies to merchants operating in the fully managed mode, including both existing and new merchants. After successful onboarding, merchants need to activate the settlement wallet and complete deposit authorization. The platform will reserve1,000 yuan RMB as a fully managed merchant deposit, which will be used to compensate for product quality incidents and other situations.
2. Tuke Shop US Free Shipping New Policy
Tuke Shop has launched a free shipping promotion in the US. First-time buyers with order amounts over5 USD will enjoy free shipping, and repeat customers with order amounts over20 USD can also get free shipping. Tuke will reimburse up to 40 USD for standard shipping and 80 USD for express shipping, and provide sellers with different shipping options.
3. Tuke Shop US Sales Platform Fee Rises to 8%
Tuke Shop US plans to increase seller sales commission, with most products’ transaction fees rising to 8%. The adjustment will be carried out in two phases: from April 1, order commission will increase from2% to 6%, and after July 1, it will further rise to8%. Categories with higher prices such as electronics, real estate, and collectibles will have lower fees. This move aims to reduce the number of low-quality sellers and counterfeit product merchants, improving platform quality.
Southeast Asia Region
1. Tuke Indonesia GMV Doubled Last Week
According to EchoTuke data, last week’s top Tuke Shop GMV products: Indonesia skincare set ranked first, with GMV about 477,400-645,900 USD, more than doubling; Thailand three-piece clothing set still ranked first, with GMV about 1.7-2.3 million USD; Malaysia lipstick ranked first, with GMV about 228,900-309,600 USD.
2. Foreign E-commerce Accounts for 86% of Indonesian Market
Indonesian media reports show that foreign e-commerce has occupied86% of Indonesia’s market share. Before Tuke Shop closed, 32% of users shopped on Tokopedia. 88% of Indonesian consumers actively shop online, with an average monthly online shopping expenditure of about 198 yuan RMB per person.
3. Vietnam E-commerce Cosmetics Sales Grow Over 70%
Vietnam’s e-commerce platform sales of cosmetics and beauty products grew by74% in the first 10 months of this year, reaching22.2 trillion VND. Serums, sunscreen, and moisturizers are the best-selling product lines, with the beauty product group growing the most, reaching191%. Obviously, Tuke Shop’s entry has brought significant market share to e-commerce platforms, and overall sales are expected to exceed8 trillion VND.
4. Malaysian E-commerce Platforms Affected by Tax Policy
In 2024, Malaysia implemented a 10% sales tax on low-value goods, causing prices of overseas purchased products on many e-commerce platforms to rise. This policy makes it more difficult for consumers and cross-border sellers to sell overseas.
Focus on 2024
New Opportunities in E-commerce Industry in 2024
The new opportunities in the e-commerce industry in 2024 can be summarized by three keywords: fully managed model, AI tools, and store live streaming. Fully managed model: the platform is responsible for store operations, warehousing, delivery, after-sales service, etc.; Application of AI tools: AI can help e-commerce reduce costs and improve operational efficiency; Rise of store live streaming: store live streaming has become a new trend in the e-commerce industry, with brands and merchants hoping to control their own traffic.
Summary:
In 2023, Tuke achieved great success amid challenges and opportunities. In 2024, Tuke will surely continue to soar. For overseas brands and merchants, this is a new opportunity to enter the e-commerce industry. Seizing this opportunity and meeting the challenges is the key to achieving greater success in the e-commerce market.
Short answer for decision makers
This TikTok business signal should be used as a planning prompt, not a standalone trend. The practical question is whether your brand has the market readiness, creator supply, Shop conversion path, paid-media structure, and reporting cadence to act on it now.
Key facts
- Market signal: TikTok Marketing Information and Solutions
- Published: January 10, 2024
- Source transparency: the original source linked in this article
Tuke recommendation
Choose one market, one product group, one creator cohort, and one KPI for the next operating cycle. Then align creative testing, TikTok Shop optimization, live commerce readiness, and weekly reporting around that single decision.
What should brands do with this TikTok signal?
Brands should translate the signal into a focused operating test across creative, creators, TikTok Shop readiness, paid media, and reporting before increasing budget.
How does Tuke Marketing evaluate this kind of news?
Tuke Marketing reviews platform news through market timing, category demand, creator supply, commerce readiness, and measurable growth actions.
When should a team contact Tuke about this topic?
A team should contact Tuke when it needs to turn a TikTok market signal into a practical launch, creator, advertising, live commerce, or reporting plan.
Source transparency: Tuke cites the original source linked in this article and adds its own operating analysis for brands evaluating TikTok growth decisions.