In the first half of 2024, TikTok's global average monthly downloads reached 81.73 million, up 6.6% from last year.
From the perspective of the number of monthly active users, the monthly life of the United States in the first half of the year was stable at more than 170 million, ranking first in the TikTok Shop countries, and was not affected by the "ban".
In terms of cumulative sales in the first half of the year, Thailand ranked first with $3.78 billion GMV;
It was followed by the United States at $2.96 billion, Indonesia at $2.8 billion, Vietnam at $2.6 billion, and Malaysia at $1.76 billion.
In the first half of 2024, what changes have occurred on the TikTok platform?
What beauty care products are on the list of explosive products in various countries?
This was analyzed in conjunction with FastMoss 'White Paper on TikTok's Ecological Development in the first half of 2024.
01 Average selling price: Highest in the United States
From January to June 2024, the average selling price of items sold on TikTok Shop, the highest in the US, fluctuated between $17 and $23; This is followed by the United Kingdom, where the average price is between $8 and $16. In addition, among Southeast Asian countries, Malaysia has a relatively high average selling price, and the Philippines has the lowest.
02 Number of live shows with cargo:
The United States is growing the fastest, while Indonesia ranks first in Southeast Asia
FastMoss data shows that in the first half of 2024, the number of live cargoes in the United States grew faster than the market expected, reaching the highest number of live cargoes in May. Among them, a single GMV more than $100,000 as high as 140. At the same time, the attention and consumer enthusiasm for TikTok live delivery in the UK market continued to increase, reaching the highest number of live TikTok live delivery in April. It is worth mentioning that on June 9, 2024, the American TikTok master @iamstormisteele broke through $1 million for a single live broadcast.
In the first half of 2024, among the TOP50 TikTok live delivery in the United States, beauty and personal care products dominated the list, accounting for 72%; The health category accounted for 6 per cent. The SUMMER SALE & MEGA MINI RESTOCK live event performed particularly well, taking the top spot with 48,000 sales and approximately $1,048,100 in revenue.
In the first half of 2024, among the TOP50 TikTok live delivery in the UK, beauty and personal care accounted for 58% of the total. Among them, the Summer Sale Key Live Session topped the list with sales of around £2.9 million.
According to FastMoss data, among the TikTok delivery live broadcasts in Southeast Asia, Indonesia has the largest number of live broadcasts, accounting for 34.69%, followed by Vietnam (21.17%), the Philippines (15.64%), Malaysia (15.06%), and Thailand (13.44%). From the time point of view, Indonesia and Malaysia ushered in the peak of live delivery in May, and the other three countries all had the most live broadcasts in April.
In Southeast Asia, product category selection, pricing strategy, and publicity focus are the key factors affecting the final transaction. When live streaming, more time and exposure can be given to higher-value or more attractive goods; At the same time, use the title, details page and other channels to highlight preferential information to accelerate the purchase of conversion.
In the first half of 2024, TikTok Indonesia's top 50 live delivery list, beauty and personal care products dominate, accounting for up to 48%. In addition, household daily and kitchen products accounted for 10% of the market share, and health care products accounted for 2%. TikTok Vietnam's TOP50 live delivery list, beauty and personal care products accounted for 30% of the share, showing consumers' high preference for beauty and personal care products. On TikTok's TOP50 live streaming in the Philippines, mobile and digital products accounted for 38%, and beauty and personal care products accounted for 18%. TikTok Malaysia's TOP50 live delivery list, beauty and personal care products accounted for 40% of the share, kitchen supplies accounted for 6%. It is worth mentioning that the Muslim fashion category is also on the list, accounting for 4%. TikTok Thailand's TOP50 live delivery list, beauty and personal care products accounted for 26%.
03 Popular Categories:
Beauty care tops the list
During the period from January to June 2024, the sales distribution of various categories on TikTok Shop in the United States showed a diversified trend. FastMoss data shows that beauty and personal care products remain the number one popular category on TikTok in the United States, accounting for a significant share of total merchandise sales of approximately 20.95%, showing the continued popularity of the natural style of light makeup in the market. In addition, the health care category has also emerged as a new highlight of sales growth, reflecting consumers' attention to health and wellness.
Specifically, in the beauty category, false eyelashes, serum and makeup tools have high GMV volume and growth rate, and ROAS (return on advertising expenditure) has excellent performance.
In the TOP10 categories of Southeast Asian countries, beauty care not only ranked first in Thailand, Vietnam and the Philippines, but also ranked second in Indonesia and Malaysia.
It is worth mentioning that consumers in Southeast Asia have slightly different preferences for cost performance. In the beauty category, for example, consumers in Malaysia, the Philippines, Vietnam and Indonesia prefer giveaway benefits, while consumers in Singapore and Thailand are more likely to opt for bundled sets.
Southeast Asian consumers are very pragmatic, and their purchase factors are mainly marketing factors (promotional activities) and price factors (good value/quality). Focusing on the TikTok platform, Southeast Asian consumers' expectations are focused on the two points of product quality and durability and cost-effective.
04 Popular store list:
O. TWO.O and GMEELAN performed well
TikTok Indonesia's TOP50 hot stores in the first half of the year, beauty and personal care stores accounted for 48%, ranking first ownerdavienaskincare with 1,588,900 sales, RP674.090 billion Rupiah (about 303 million yuan) sales. In second place was Glafidsya Skincare with 943,000 units and sales of RP602.821 billion (about 271 million yuan).
On TikTok's TOP50 hot shops in Malaysia in the first half of the year, beauty and care stores performed well, accounting for about 23%. SkintificMalaysia topped the list with sales of 1.109,700 units and sales of about RM60.496,000（about 94.06 million yuan）, while shops such as O.TWO.O Beauty-MY, MAZAVILLE and cosrx.my also topped the list. O.TWO.O Beauty-MY ranked sixth with 1,595,300 sales and RM29.215,900 sales (about 45.42 million yuan).
In the first half of the year, TikTok's TOP50 popular stores in the Philippines accounted for 22% of all beauty and care stores. GMEELAN ranked first in the beauty and care category and fourth in the overall list, with sales volume of 1.4915 million and sales volume of ₱576 million (about 71.48 million yuan). O.TWO.O Beauty-PH ranked second in the Beauty care category with sales volume of 1.9332 million and sales volume of ₱383 million (about 47.53 million yuan), and ninth in the overall list.
TikTok Vietnam's TOP50 popular stores list, beauty care accounted for 32%, beauty care category HASAKI BEAUTY ranked first in the category, the overall list second, reaching 1.2409 million sales, 2.45 trillion VND sales (about 700 million yuan). Founded in 2016, HASAKI has 140 physical stores and an online platform in Vietnam. In addition, HASAKI is one of the important strategic distribution partners for international brands such as Rhine Springs, L 'Oreal, Maybelline and 3CE in the Vietnamese market. In 2023, Alibaba acquired a minority stake in HASAKI through its subsidiary Alibaba International Digital Business Group (AIDC). GMEELAN Beauty Store also performed well, ranking 10th in the overall list with 1.0964 million sales and 168.078 billion VND sales (about 48.74 million yuan).
05 Explosive commodity list:
Beauty care, health care products are popular
In the first half of 2024, TikTok Indonesia's TOP50 most popular goods list, beauty and personal care products accounted for 44%. Among them, the ELFORMULA Intensive Peeling Solution performed particularly well, ranking first with 4520 thousand sales and about RP56.153 billion (about 25.23 million yuan) revenue. In addition, the GLAB-Package Booster Anti Aging New beauty care category also performed well, ranking third, with sales reaching 19,500.
Vietnam's TOP50 explosive goods list, beauty and personal care products accounted for 32%. Among them, [QUA TẶNG KHONG BAN] Lotion Chống Nắng Sunplay topped the list with sales of about VND3.99 trillion (about 1.1 billion yuan).
The TOP50 list of explosive products in the Philippines, beauty and personal care products accounted for 20%; GMEELAN Underarm Brightening performed well, ranking fourth with sales of 260,700, ₱115 million (about 14.27 million yuan); Another GMEELAN sakura 5X Body Cream Pearl moisturizer also came in at number 13.
Malaysia's TOP50 explosive goods list, beauty and personal care products accounted for 24%, followed by Muslim fashion products, accounting for 12%; Health products accounted for 12%. Among them, the beauty personal care product NEW 2024: ANAS Set Makeup Mega Viral #RDM performed particularly well, with 95,900 sales and about RM12,109,800 revenue (about 18,829,500 yuan). Skintific's skincare set came in third with 60,000 sales of RM7,484,800 (about 11.638 million yuan). The brand's other air cushion ranked sixth.
On the TOP50 list of explosive goods in the United States, beauty and care products accounted for 28% and health care products accounted for 16%. Among them, health supplement 15 Day Cleanse - Gut and Colon Suppor topped the list with sales of 1,524,300 units and revenue of about $23,461,700.
On the TOP50 list of explosive goods in the UK, beauty and care products accounted for 22% and health care products accounted for 10%. Among them, the beauty and care category P.Louise Bad B*tch Energy Lip Duo performed well, ranking second, with a sales volume of 73,000.
In the first half of 2024, TikTok continued to write a brilliant chapter of its development at an impressive pace. Especially in the field of live delivery, TikTok's total transaction volume (GMV) in the US market historically crossed the million dollar threshold, while the UK market followed suit, closing in on the 800,000 dollar mark. FastMoss predicts that the daily GMV in Southeast Asia will exceed $100 million this November, marking a new milestone for TikTok's e-commerce business. In the second half of this year, Sun-Rain will continue to pay attention to what changes TikTok will present!
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