Wanna know what are the popular TikTok product trends of 2023? This report analyzes TikTok e-commerce product trends of 2022 Year-End Mega Sales and provide trend forecasting for 6 major sales countries, including the United Kingdom, Indonesia, Thailand, Vietnam, Malaysia, and the Philippines.
2022 is a vital year for TikTok E-commerce. Following the opening of TikTok Shop in the UK and Indonesia in 2021, TikTok Shop opened its Southeast Asian counterpart, and has expanded its presence in four countries Thailand, Malaysia, Vietnam, and the Philippines since April 2022. This functions as cross-border e-commerce business, and enters a new stage of "one store selling the world".
As the most welcomed free TikTok analytics tool, Shoplus utilizes platform advantages and comprehensive analysis to analyze TikTok e-commerce trending products from September to November 2022, and conduct the product insights of TikTok e-commerce. The following indicates the Top 5 TikTok product Trends:
1. Rise of the SHEconomy: Beauty and Personal Care, Women’s clothing and Lingerie accounted for 44%.
Among the overall sales of TikTok e-commerce from September to November 2022, the two categories dominated by female consumers, Beauty and Personal Care, Womenswear and Lingerie, occupy the top two positions and account for 44.0% of the market share.
In addition, except for the need for self-pleasure, women's needs for home comfort should not be underestimated, such as Household Essentials, Baby & Maternity, and Kitchenware.
2. Indonesia still takes the lead, and Thailand is on the rise.
During September - November 2022, Indonesia's sales showed steady growth, but the growth rate was 32% lower than that of the broader market. Its market share dropped from 43% in September 2022 to 35% in November 2022. However, it still holds the dominant position.
3. The main consumption price range is within USD 8 per unit. High-priced positioning needs to be nurtured for a long time
In the Indonesian market, categories such as Beauty, Women's Clothing, and Muslim Fashion have a large product base, and the proportion of traded products remains high, thus these product categories have great market potential; categories such as Men's Clothing, Shoes, Bags, Food, and Health have a small product base, but the number of traded products is higher than that of the market, so the competition among these product categories is relatively low.
The best-selling prices of most categories in Indonesia are concentrated within USD 8. High-priced positioning needs to be nurtured for a long time
4. In terms of Hobbies and Beauty consumption, Thai consumers can accept higher price positioning.
Beauty and Personal Care occupies the NO.1 position in category sales with an absolute advantage of 34%, followed by Womenswear and Lingerie, which has a market share of 9%; Jewelry & Derivatives, and Fashion Accessories are on the rise in November, which have strong potential for growth opportunities;
From the sales distribution of the top 10,000 products in each price range: Consumers are more willing to spend money on interest-related categories. Phones & Electronics, Office Supplies, Vehicle Supplies, Hobbies and Collectibles with a unit price of more than USD 20 occupy about 10%-30% of the market share. Additionally, consumers are more willing to buy Beauty and Personal Care products to invest in their appearance.
5. The effect of Christmas-related product category aggregation is obvious, especially in Beauty and Personal Care.
During the 2022 Christmas time, the sales of Christmas-related products show a strong growth, and Beauty and Personal Care take up 51.4% of the market share；
The home improvement market ranked No.2. Its best-selling products are mainly solar LED Christmas light strings suitable for outdoor parties. This kind of product takes up more than 90% of the Christmas home improvement market share, and its best-selling prices are 3-4 US dollars per piece；
The home supplies market takes third place. “Romance and warmth” are its main theme. LED light rose artificial in glass, hot water bottles, and aromatherapy humidifiers have taken over 96% of the market share of Christmas home supplies.
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