š TikTok Shop Gains Market Share
TikTok Shop's market share in Chinese ecommerce sales in the US hit 37% for the week ending July 11, 2024, up from 0% a year ago.
The event coincides with other major sales like Walmart Deals, Targetās Circle Week, and Amazon Prime Day.
TikTok Shop hosted brands like Benefit Cosmetics and COOLA, and creators such as simplymandys, Stormi Steele, and Tati Westbrook showcased their favorite products.
šļø Increased Customer Spend
Starting July 9, brands like LāOrĆ©al Paris, Maybelline New York, and Too Faced offered deals on TikTok Shop.
Average customer spend hit a historic $52, despite a dip since March.
TikTok Shop customers typically spend 70% of what Temu and Shein customers do, often making impulse purchases.
'Deals for You Days' does not have a set end date, extending the opportunity for increased sales.
How do you think TikTok Shop's strategy compares to its rivals?
