In 2024, the number of daily active users on TikTok is expected to exceed 1.35 billion, presenting unprecedented opportunities for TikTok Shop. Moojing’s Oversea products have now integrated data from multiple TikTok Shop sites across Europe, North America, and Southeast Asia, providing a one-stop solution for brands analyzing overseas markets.
As brands accelerate their expansion overseas, the landscape of the international e-commerce market is quietly undergoing transformation, with TikTok's explosive growth in foreign markets being particularly noteworthy. Data shows that by 2024, the platform's daily active users are projected to surpass 1.35 billion. This immense traffic has brought unparalleled opportunities to TikTok Shop, allowing it to rapidly expand globally and become a force to be reckoned with.
In the first half of 2024, TikTok Shop's global Gross Merchandise Volume (GMV) has exceeded $10.7 billion, with the United States, Thailand, Indonesia, Vietnam, and the Philippines being key markets for its e-commerce operations. Notably, TikTok Shop has performed exceptionally well in the U.S. market, becoming one of the most popular social commerce platforms. Many users are choosing to shop after browsing content on the platform, and this "grass-planting economy" model is gradually changing consumer shopping habits.
At the same time, TikTok Shop is demonstrating strong growth in the Southeast Asian market. In key markets such as Indonesia, Thailand, Vietnam, the Philippines, and Malaysia, its GMV has seen significant growth, providing brands with ample opportunities for expansion in Southeast Asia.
Recognizing the trends in the development of this overseas e-commerce platform, Moojing’s Oversea products have quickly responded by integrating data from multiple TikTok Shop sites across Europe, North America, and Southeast Asia, aiming to provide robust data and technical support for brands venturing abroad. In the next two issues, we will unlock new trends in the TikTok Shop market based on Moojing Oversea product data, focusing on the U.S. market and Southeast Asia.
