It can be said that at this time, no one would definitely know the TikTok platform, because at present, TikTok has become the most downloaded application in 2021 and has remained the most downloaded application for 3 years in a row since 2019.
The latest data reveals that TikTok has been installed more than 3 billion times, causing ByteDance, the owner of the TikTok platform, to have revenues in 2021 increase by 70%, or about $58 billion, or over 2 trillion baht in Thai currency.
As of 2020, ByteDance’s revenue is up 100% from 2019, bringing its value to more than $180 billion.
Moreover, Last March, TikTok introduced a new feature. Bringing revenue opportunities to brand owners and content creators with the official launch of TikTok Shop. This is considered the launch that has shaken many e-commerce circles.
Because the ByteDance company has developed an application to “completely finish in one app,” there is no need to send messages to other apps to be complicated anymore. so that anyone who is watching the video on TikTok becomes interested in the product. can order through the app immediately.
Stand out, not be considerate of anyone, with success with the new TikTok Shop feature.
Since the past COVID period, I have to admit that online shopping has become one of the behaviors that Thai people are already familiar with. It can be seen from the numbers that the Thai Ecommerce Association revealed in August that the Thai e-commerce industry is growing steadily, including the expectation that this market will be worth up to 810 billion baht and has a chance to grow to 4 trillion baht in 2025.
Another one of the outstanding features of the TikTok Shop feature that makes the e-commerce industry interesting is to be the center of shoppertainment itself, which is a unique use of content that combines entertainment.
Because of this, the TikTok Shop is rapidly gaining popularity. because in addition to making people easily accessible and comfortable, it also allows people to have fun trading liked by shoppers as well.
In addition, another attraction of TikTok Shop is the unique charm of the TikTok app. different from other social platforms like hashtagging and participating in new challenges that follow the trend as well. For this reason, TikTok is a very popular platform today, both in the country and abroad.
The part that can’t be mentioned is the overwhelming success of TikTok Shop with Thailand’s campaign, “TikTok Shop 11.11 Shop Challenge,” which creates a new trend in the e-commerce industry. with a fun shopping experience in a new way. Throughout the 10-day campaign period, sellers in the TikTok Shop have continuously organized live events.
This has generated more than 1.1 billion total engagements throughout the campaign through over 540,000 sessions on the TikTok platform, along with many exclusive discount coupons. encouraging shoppers to make purchase decisions in real-time, resulting in the success of TikTok.
But if many people are still hesitant about investing in TikTok Shop, let’s get to know TikTok’s e-commerce competitors first.
Understand the key competitors in the e-commerce platform of the TikTok platform.
TikTok’s partnerships with Shopify and other ecommerce platforms As a result, sellers can enjoy a full-featured e-commerce solution with product links, live streams, and dynamic display advertising, making TikTok more popular, including competitors and increasing accordingly.
For example, TikTok Shop’s main competitors in Thailand, which are probably inevitably big ones like Shopee and Lazada, because they are the most used applications and are widely popular. Plus, the application is always being developed to have new features, and there are similar campaigns as well, such as free delivery codes. Organize a campaign every month on the same day and month number, such as 11.11 or 12.12. There are free giveaways and campaigns available every month. which can be called a massive reduction, exchange, or giveaway Causing consumers to fall into a row until becoming an avid shopper and another important point that makes these two at the top of the E-Commerce market is the variety of products.
In addition, TikTok Shop has many other major competitors in the market, such as Facebook or Instagram. However, it is stated that TikTok users are more likely to buy something after seeing a product on TikTok than the platform itself. 1.7 times more than others, which makes TikTok Shop quite attractive. and is expected to be able to grow in this industry for sure.
If anyone is interested in entering the e-commerce market but still doesn’t know how to start, and want more information, you can contact HelloAds, a comprehensive online marketing agency.
