The Frontline | One year after its launch, the number of daily paying users in the US region of TikTok has tripled.
On October 13, 2024, the "2024 TikTok Shop Daily Sales of Ten Thousand Orders Seller Sharing Conference" jointly hosted by Kankan, TikTok Shop Cross-border E-commerce, and Qtoss was held in Shenzhen.
At the conference, Mu Qing, the Vice President of TikTok Shop Cross-border E-commerce, shared the latest developments in the US market of TikTok Shop and the platform's support policies. Mu Qing stated that since TikTok Shop launched in the US in September 2023, the number of daily paying users in the US has increased by three times in a year. As of Q3 2024, the GMV of the content field in the US region of TikTok Shop increased by 37% quarter-on-quarter, and the number of short-video selling products in the US region increased by 47% quarter-on-quarter. In Q3 2024, the US region incubated 3 million-dollar live-streaming rooms and 37 hundred-thousand-dollar live-streaming rooms.
TikTok Shop leads newly settled merchants to complete a rapid startup through the "New Merchant Startup Program" and provides exclusive benefits such as commission reduction to support the development of newly settled merchants. At the same time, through the "Billion Dollar Club", it supports key leading merchants to achieve a breakthrough in a billion-dollar business turnover.
Mu Qing revealed that with the help of the "Billion Dollar Club" program, in Q3 of this year, the GMV of leading merchants increased by 25% quarter-on-quarter, and the GMV of leading merchants on Super Brand Day increased by 6 times, with nearly 80 merchants achieving their goals.
In addition, TikTok Shop insists on building a content e-commerce platform, covering the entire user life cycle of the "planting grass - marketing - conversion" full-link from the model in a one-stop manner, igniting growth through content, and directly achieving transaction conversion within the station.
Mu Qing introduced at the conference that TikTok Shop has built a multi-level marketing resource to help merchants' business growth. From the platform-wide promotions and category activities that the widest range of merchants can participate in; to the platform brand activities and joint marketing activities (NOVA Program) that merchants with strong marketing and promotion needs can participate in; to the Super Brand Day and New Product Day that merchants with a strong brand mindset can participate in, working together with merchants at all levels to grow and develop with the platform.
Another highlight of the conference is the launch of the AI data product selection tool "Qtoss". According to the founder George Wen, Qtoss realizes data-driven product selection and connection with talents through AI technology, which can intuitively improve the operational efficiency and success rate of TikTok Shop sellers.
Hardcore noticed at the event site that cross-border sellers generally hold a positive and open attitude towards the use of AI tools in cross-border e-commerce business. "Now, many of those doing cross-border business are small teams like us. The introduction of AI to participate in the business is a great help to us," a cross-border seller of the 3C category at the scene told Hardcore.