Calling All TikTok Shop Sellers! Here Are 3 Key Trends To Help You Boost Sales
The recently concluded TikTok Shop Summit 2024 was aimed at empowering local entrepreneurs and homegrown brands.
By Jeremy Ng — 27 Sep 2024, 05:41 PM
TikTok Shop recently concluded its flagship annual e-commerce seller empowerment event, TikTok Shop Summit, in Malaysia
The event aimed to empower local micro, small, and medium enterprises (MSMEs) as well as homegrown brands by unveiling key updates that will shape the future of online shopping.
Small businesses and local entrepreneurs are expected to be the biggest beneficiaries, as 98% of the over one million sellers on TikTok Shop in Malaysia are MSMEs.
Missed the event or need a refresher? Here are key takeaways from the TikTok Shop Summit 2024 to help you boost your sales:
1. Use content to turn social media consumers into your buyers
During the event, TikTok Shop announced that it saw 2.2x growth in sales, 1.8x uplift in sellers and 1.8x increase in affiliate creators year-over-year within the first half of 2024.
This demonstrates the shifting consumer behaviour of Malaysian online shoppers, who are now inclined towards discovering brands and products through short videos and livestream content.
TikTok Shop provides local entrepreneurs with greater opportunities to build lasting homegrown brands. MSMEs can utilise engaging content on TikTok Shop's comprehensive Shoppertainment ecosystem to shorten the browse-to-buy customer journey, while building authentic communities.
Dapur Pak Amir, a local disabled seller on TikTok Shop, showcased this potential when he built over 37,500 store followers and sold more than 19,200 products through content, even receiving interest from global markets such as Japan, Dubai, and the United States of America.
2. Make the most of TikTok Shop's enhanced support for sellers
TikTok Shop announced that it will subsidise 5x more vouchers and provide dedicated traffic exposure to further drive growth for sellers, especially during the year-end sales season, including 10.10, 11.11, and 12.12.
TikTok Shop also introduced its stackable Unlimited Free Shipping voucher to Malaysians, enabling shoppers to combine multiple discount vouchers and shipping vouchers in a single checkout*. The voucher is an innovative offering that will provide Malaysians with greater value, while driving conversion and revenue for sellers.
Finally, TikTok Shop launched the all-new Bonus Cashback, where customers can collect and accumulate cashback daily to be used on eligible products for extra discounts*.
Moreover, the TikTok Shop Summit's creator-matchmaking and knowledge-sharing sessions taught local entrepreneurs how to tap into these new growth opportunities, equipping and training them to effectively engage with customers at scale from discovery to purchase.
These investments and upskilling efforts will significantly lower the barriers of entry for MSMEs, enabling them to not only participate in the digital economy, but also increase their online visibility and sales volume during key promotional periods.
3. Join in the #JomLokal initiative to have your products spotlighted
TikTok Shop announced a collaboration with the Ministry of Domestic Trade and Cost of Living to promote Kempen Beli Barangan Malaysia (KBBM) in line with its #JomLokal initiative.
The announcement was witnessed by minister Datuk Armizan Mohd Ali.
Through the collaboration, TikTok Shop will empower over 8,000 local sellers by spotlighting 300,000 locally-made products through a dedicated KBBM page.
From now until 31 December 2024, users simply need to search for "KBBM" or "Kempen Beli Barangan Malaysia" on TikTok Shop to discover and support local products.
To incentivise Malaysians to support Malaysian brands, shoppers can look forward to discounts of up to 30%, Free Shipping vouchers and local creator spotlights.
Aspiring entrepreneurs, local MSMEs, and homegrown brands can sign up at TikTok Shop Seller Center and exploring step-by-step tutorial courses at TikTok Shop Academy
