According to foreign media reports, as of July 11, sales during TikTok Shop's Deals for You Days event accounted for 37% of US e-commerce sales, indicating that summer sales will usher in an increase. Meanwhile, the proportion of Temu was 37.2% and Shein was 25.8%. TikTok’s spending per customer hit an all-time high during its Prime Day campaign, averaging $52, according to a new report from research firm Earnest Analytics. Prior to the TikTok Shop promotion, weekly spending per U.S. customer had been declining since March. While TikTok Shop promotions drove the increase in spending, shoppers spent $71 on Shein and $72 on Temu during the same period. The average TikTok Shop user spent about 70% of Shein and Temu users, noting that TikTok purchases are often made on impulse. TikTok Shop’s “Deal for You Days” campaign offered discounts on thousands of items from brands like L’Oréal Paris, Maybelline and NYX, helping brands see a surge in sales on the social media platform during popular sales periods. In addition to TikTok Shop, major retailers such as Amazon, Target and Best Buy have held their own promotions this month, and research shows that Amazon's Prime Day promotion has boosted online shopping across the board, with spending on various e-commerce sites reaching $14.2 billion from July 16 to 17, an 11% year-on-year increase. As TikTok Shop surpasses Shein and Temu in its summer sales, research shows there is overlap in the three companies’ customers. According to earlier reports, 28% of Shein customers also shopped on TikTok Shop in the 12 months to February, and 25% of Temu shoppers also purchased through TikTok Shop. The latest report states that Shein and Temu may have an advantage over TikTik Shop because many TikTok shoppers make impulse purchases while browsing rather than with a clear purchase intent like on Temu and Shein. As the market landscape continues to change, e-commerce platforms and brands need to learn from the experience of this event to develop more precise marketing strategies to meet consumer needs and enhance competitiveness. In-depth understanding of consumer trends and flexible response to changes will become an important factor for companies to remain invincible in the fierce summer promotion market. Author✎ Summer/ |
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