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Product Trends Analysis Report that every marketers need to see!

Do you know what have been the top TikTok product trends of 2023? This report analyzes TikTok e-commerce product trends of 2023 Year-End Mega Sales and summarizes product potential for major sales countries, including the United Kingdom, Indonesia, Thailand, Vietnam, Malaysia, and the Philippines.

Analysis of the Survival Environment For American Tiktok Shop Goods

The survival environment for multiple categories is not optimistic, except for some countries.From the perspective of the survival environment of various goods in the European and American regions in the first and second half of 2023: Cosmetics, women's clothing, and women's underwear have a high base of goods, and the proportion of goods with transactions remains high. Overall, the survival environment for goods is good. Kitchen supplies, sports and outdoor, mobile digital, and other categories have a large base of goods, and the proportion of goods with transactions is lower than the overall market, indicating relatively fierce competition. 2023 European and American category product survival environment

Insights into Advantaged, Potential, and Mature Categories in America

A few categories with strong performance: furniture. Looking at the market share and sales growth rate of various categories in the European and American regions in the first and second half of 2023: The beauty and personal care category leads with a market share of 25.41%, becoming a mature category in the e-commerce market in the European and American regions. Categories like men's clothing and underwear, computer and office supplies, mobile phones and digital products, home appliances, and automotive supplies are showing strong growth in sales and leading in sales growth rate compared to other categories. However, their sales volume is small and there is still untapped market potential.

The furniture category has great market potential, with a growth rate exceeding 7,000%. It is a hot track worth exploring for TikTok European and American merchants.

 

Analysis of the Survival Environment for Goods in Southeast Asia

Main categories have stable survival, while other categories need breakthroughs. From the perspective of the survival environment of various goods in the Southeast Asian region in the first and second half of 2023: Cosmetics, women's clothing, and women's underwear have a high base of goods, and the proportion of goods with transactions remains high. Overall, the survival environment for goods is good.

Maternity and baby products, mobile phones and digital products, daily household items, and health products have a large base. Still, the proportion of traded goods is lower than the overall market, indicating relatively fierce competition in other market segments.

*The country region referred to as Southeast Asia is: IndonesiaMalaysiaPhilippinesSingaporeThailandVietnam

 

Insights on Southeast Asia's advantages, strengths, mature categories

Multiple categories experience rapid growth, while mature categories maintain stability. From the market share and sales growth rate of various product categories in Southeast Asia in the first and second half of 2023: The home improvement materials category leads with a growth rate of nearly 202.67%, becoming the driving category in the Southeast Asian market in 2023. Categories like pet supplies, automotive supplies, household daily necessities, and home appliances are showing strong growth in sales, but their sales base is small, indicating untapped market potential. The beauty and personal care and women's clothing categories have the highest market share, and the category development is mature with limited room for growth.

*The country region referred to as Southeast Asia is: IndonesiaMalaysia PhilippinesSingaporeThailandVietnam.

 

Sales Overview of Categories in the US Market

Undoubtedly, the newly added volume scene is highly regarded. During the Black Friday period, TikTok's shops in the US demonstrated strong live-streaming sales capabilities. Overall sales of mobile electronics, sports and outdoor, health, and household daily use categories showed a month-on-month growth trend from October to November, making the categories with the largest incremental opportunities. The US market is currently receiving a lot of attentions, and new incremental opportunities will be found in the thriving TikTok marketplace!

 

UK Market Category Sales Overview

GMV has increased, but merchants still lack confidence. In the UK market, the shopping demand for beauty and personal care products and women's clothing is the highest, with a sales volume and revenue share of over 30% in the product category. Other categories have a weaker growth trend. Currently, many merchants still lack confidence in the UK e-commerce market. Firstly, the Shops on the platform in the UK are mixed, which to some extent affects the user shopping experience. Secondly, the consumption habits of short videos and live streaming rooms in the UK domestic market have not yet been developed. If merchants want to enter the UK market, they should make sufficient preparations in the early stage and avoid blindly entering.

 

Thai market category sales overview

Women's consumption and shopping power account for a large proportion. The political situation in the Thai market is relatively relaxed compared to other Southeast Asian countries, and the overall user penetration rate is much higher than the average level. Since the second half of the year, the sales proportion of women's clothing and underwear and health care categories has increased significantly, indicating that female consumers still have a significant purchasing power. The sales proportion of daily household products is much higher than the sales proportion, making it be a highly competitive category.

 

Sales Overview of Categories in the Indonesian Market

After going through the stage from ban to restart, the Indonesian market has witnessed the rebirth of TikTok e-commerce before this year's "Double Twelve". The social e-commerce attribute of TikTok allows more and more users to actively share their favorite products, increasing their focus on themselves. The demand for beauty is becoming more common and gradually moving towards "necessities". Among them, beauty and personal care, women's clothing, and Muslim fashion still maintain a stable position in the top 3. Therefore, Indonesian merchants can focus on the consumption and adjust their localized product selection strategies in a timely manner.

 

Philippine market category sales overview

Main selling categories continue to perform steadily. Beauty and Personal Care, Women's Clothing and Underwear, Men's Clothing and Underwear are the 'Sales Champions' in the Philippine market. Compared to the first and second half of the year, major categories in the Philippine market did not show significant fluctuations, with low variations in sales. The growth potential is showing limitations, and it is difficult for merchants to achieve greater breakthroughs. Perhaps uniquely developing new explosive products is the best approach for merchants to explore the path of explosive sales.

 

Sales Overview of Categories in the Singapore Market

Significant Fluctuations in Various Categories in the First and Second Half of the Year. The Singapore market has been "ever-changing" with a significant increase in the sales proportion of beauty and personal care categories nearly 20% since the second half of the year, while the sales proportion of toy categories has experienced a sharp decline. As one of the world's financial centers, Singapore's consumer purchasing power is self-evident. Business strategies need to be continuously updated and iterated to provide better and more diverse shopping choices in order to capture a larger market share.

 

 Malaysia Market Category Sales Overview

Muslim Fashion Shows Slight Fatigue in the Second Half of the Year. Unlike other Southeast Asian countries, the Muslim fashion category in the Malaysian market ranks second in terms of sales and sales volume, but its growth momentum in the second half of the year is slightly weak. In addition, the automotive supplies category has entered the top eight in terms of overall sales, with the main selling products including car aromatherapy, car recorders, and car LED lights.

 

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