Sales increased by 270% year-on-year! ? TikTok Shop released a new strategy

Since Southeast Asia opened up cross-border entry in the second half of 2022, the average monthly compound growth rate of GMV throughout the year has been nearly 90%; the average transaction unit price in the UK market also increased by more than 40% in the second half of 2022; TikTok Shop achieved a large-scale growth, with cross-border GMV in the 2022 Christmas season alone increasing by 270% compared to 2021.

Overall, the turmoil in the economic market in 2022 did not particularly affect TikTok Shop and cross-border sellers. On the contrary, both TikTok Shop and cross-border sellers have demonstrated strong resilience, with the overall scale and quality moving forward in tandem, accelerating their global layout in an all-round way.

Recently, TikTok Shop released its cross-border e-commerce strategy for 2023. After reviewing the platform's achievements in scale and quality, merchant globalization, content service ecology, etc. in 2022, TikTok Shop announced that in 2023 it will focus on " double-excellence management and triple growth " and officially enter a new stage of high-quality and refined management .

TikTok Shop pointed out that in 2023, the platform will ensure high-quality growth through the two major strategies of "accelerating high-quality merchants" and "strengthening high-quality ecology" .

The platform will introduce a series of support policies to increase support for high-quality merchants, and provide more policy support and exposure opportunities for high-quality merchants and products in key areas such as brand cold start, influencer networking, and commercial investment. For example, the "Polaris Brand Plan" will be upgraded to the "Polaris High-Quality Merchant Plan", which will help merchants improve their globalization efficiency in a more systematic way.

On the other hand, the platform will increase its efforts to introduce and support high-quality ecological partners , and provide ecological services to cross-border merchants around the three directions of cross-border service providers TSP, cross-border institutions MCN, and cross-border alliances TAP; at the same time, it will also upgrade the content ecology, enhance the richness of service ecology categories, expand the coverage of the service ecology, create benchmark cases for the service ecology and replicate them on a large scale.

"Triple growth" refers to providing merchants with certain growth based on the three driving forces of "fine-grained market operations", "diversified field drive" and "multi-node marketing explosion".

TikTok Shop said it will continue to explore new national markets around the world and open up cross-border entry. In Southeast Asia, the United Kingdom and other pan-English speaking countries, it will support merchants to take advantage of the cost of the English language, increase the supply of high-quality content and products, and realize the model of selling to the world from one store.

In terms of category management, TikTok Shop stated that it will provide category recommendations for market opportunities in different countries through precise insights into the crowd, encourage merchants to delve deeper into vertical categories, improve the professionalism of category management, and accumulate more accurate user assets.

TikTok Shop will provide merchants with a new "mall" model. Since February 2023, TikTok Shop has been officially launched in Thailand and the Philippines, and will be gradually opened to more Southeast Asian countries to unlock new places for bringing goods. According to official information, under the ordinary mall model, merchants can obtain new sources of traffic in addition to live broadcasts, short videos and showcases, and merchants on traditional e-commerce platforms can also quickly enter the TikTok Shop cross-border e-commerce through the mall model.

On the other hand, based on TikTok Shop's unique advantages in live streaming and short videos, TikTok Shop will further improve its efficiency and drive cross-border merchants to achieve more business growth through refined content operations and precise cargo matching.

TikTok Shop said that by 2023, it will achieve full coverage of important marketing nodes in major regional markets and enhance the role of marketing activities in promoting business growth. For example, Ramadan, Singles' Day, and Double 12 promotions in Southeast Asia, Easter, summer promotions, Black Friday, and Cyber ​​Monday in the UK.

For cross-border e-commerce, 2023 is a year of great opportunities and challenges, but the future is promising! ! Because the actual demand of overseas markets will continue to inject new opportunities into the industry.

As one of the core cross-border e-commerce platforms, the release of TikTok Shop's new strategy can provide support to cross-border merchants in many aspects.