TikTok Shop spend jumps during Deals for You Days
🌈 Abstract
The article discusses the performance of TikTok Shop's "Deal for You Days" sales event, which saw a historic high in average spending by U.S. shoppers. It also compares TikTok Shop's sales to those of other major retailers like Amazon, Target, and Best Buy, and examines the overlap between TikTok Shop's customer base and those of competitors like Shein and Temu.
🙋 Q&A
[01] TikTok Shop's "Deal for You Days" Sales Event
1. What was the key finding about U.S. shoppers' spending during TikTok Shop's sales event?
- U.S. shoppers spent an average of $52 each during TikTok Shop's "Deal for You Days" event, which was a historic high and a break from recent declines.
2. What types of brands and products were featured in the TikTok Shop sales event?
- The event offered discounts on thousands of items from brands like L'Oréal Paris, Maybelline New York, and NYX Professional Makeup.
3. How did TikTok Shop's sales event compare to other major retailers' sales events this month?
- Major retailers like Amazon, Target, and Best Buy also ran their own sales events this month, and research suggests that Amazon's Prime Day sale drove a boost in online shopping across the board.
[02] Comparison to Competitors
1. What was the overlap between TikTok Shop's customer base and those of Shein and Temu?
- During the prior 12 months ending in February, 28% of Shein customers also shopped at TikTok Shop, and a quarter of Temu shoppers also made purchases via TikTok Shop.
2. How did the shopping behavior on TikTok Shop differ from Shein and Temu?
- Many TikTok shoppers are making impulse purchases while browsing, instead of navigating to various sales categories as they do on Temu and Shein, "where intent could be higher."