TikTok Shop is experiencing explosive growth in the United States. In July 2023, the number of online products in TikTok Shop exceeded 100,000 in the US market, with daily sales approaching 100,000 units and daily GMV exceeding 3 million dollars. Such growth is rarely seen globally.

This data trend analysis selects the data of TikTok Shop in the US from July 1st to July 31st, 2023, including dimensions such as the number of products, sales volume, GMV, and influencer marketing. It helps businesses and influencers analyze the current market trends in order to better operate TikTok Shop.

Part 1 - Overall Trend of TikTok Shop in the US

The number of products and the number of influencer marketers increased by 1%-3% daily:

The total number of products increased from 48,000 on July 1st to 101,000 on July 31st, with an overall growth of 110%.
The number of influencer marketers increased from 3,262 on July 1st to 6,015 on July 31st, with an overall growth of 84%.

The continuous increase in the number of products validates the huge consumption space and potential in the US market. Despite the 110% monthly growth rate of products, they are still being quickly consumed. Under the impact of e-commerce, US influencers are beginning to recognize the connection between TikTok and e-commerce, and the rapid growth in the number of influencer marketers is closely related to the rapid growth of MCN organizations.

Product sales and overall GMV show fluctuating increases:

Product sales increased from 23,000 units on July 1st to 96,000 units on July 31st, with a growth rate of 317%.
Overall GMV increased from 0.7 million dollars on July 1st to 3.2 million dollars on July 31st, with a growth rate of 306%. There is a close correlation between product sales and overall GMV.

Weekly growth rate remained stable, reaching its peak in the third week of July:

Weekly data shows a relatively stable overall upward trend in the US market. The week-on-week increase in the number of influencer marketers and products is no less than 15%.
Product sales increased by 33% in the second week of July and slightly slowed down in the third week.
The overall GMV reached its highest growth rate of 26% in the third week.

The average amount of customer spending is gradually increasing, and users' trust in shopping on the TikTok platform is strengthening.

50% of the products in the Top 10 sales and GMV rankings overlap:

By matching the top 10 products in terms of GMV and sales, it is found that 5 products appeared in both rankings. The average unit price of these 5 products is about 70 dollars, with an average monthly sales volume of about 13,000 units and an average monthly GMV of about 1 million dollars.

Part 2 - Insights into the TikTok Shop ecosystem in the US

Overview of ecosystem insights: The number of TikTok short video sellers and the number of products for sale are growing simultaneously:

Compared to live streaming sales, short videos have greater potential to increase sales in the current US market.
In July, the number of short video sellers and the number of products increased simultaneously, indicating that US influencers are gradually accepting the commercial form of selling through short videos.
Judging from the playback and likes of sales videos, US users have a higher acceptance of sales videos than expected.

The number of TikTok short video sellers grew significantly in July, and the quality of their videos improved:

Since April 2023, when TikTok Shop announced its closed-loop system in the US, the number of short video sellers has increased by over 100% on a monthly basis, with a growth rate of 175.9% in July.
The playback and likes of sales videos created by influencer marketers have significantly increased since April, with the likes-to-playback ratio reaching its highest point of 0.064 in July. The quality of sales videos by influencer marketers is steadily improving.

TikTok short videos have a significant effect on driving user purchases, but the effect has a certain lag:

US users are not inclined to make impulsive purchases immediately after watching videos.
High sales volume of products usually occurs 2-5 days after high video playback.

With the increase in product variety and quantity, the number of influencer marketers for sales videos has also increased in a positive correlation.
With the development of MCN organizations and the improvement of the variety of selected alliance products, it is expected to be easier for influencers to find suitable products for sales promotion.

By fitting the trend of the number of products and influencer marketers in July, the predicted growth ratio is 20:1.
With the rapid development of TikTok Shop in the US market and the increase in the number of products, the number of influencer marketers is expected to grow rapidly, which will be a period of dividend for MCN organizations.
Businesses collaborating with influencers can find more suitable partners, making it a good opportunity to establish a presence in new markets and build online visibility.

Part 3 - Analysis of category trends in TikTok Shop in the US

Beauty, women's clothing, and collectibles remain the top 3 categories in TikTok Shop in the US:

In July, beauty, women's clothing, and collectibles remained the top 3 categories in the US market. In terms of weekly changes, GMV for women's clothing and beauty/personal care products experienced significant growth, while GMV for collectibles declined.
Among the top 10 categories, kitchen supplies, mobile electronics, food and beverages, and computer/office supplies showed a significant increase in GMV at the beginning of the month. There may be an increase in male consumers and home-based consumers on TikTok.

The industry landscape of collectibles on TikTok Shop in the US remains stable for now:

After quantifying the concentration of each category based on sales and GMV, it was found that collectibles have the highest concentration.
The seller structure in the collectibles category has the least variation in the Top 10 sellers for three consecutive months, indicating that there is less room for changes in the rankings compared to other categories.
It may take a new trend in collectibles for the emergence of the next industry leader in the TikTok Shop collectibles category.

The above data is from the professional TikTok data analysis tool, Tabcut. Feel free to log in and check more comprehensive TikTok-related data at www.tabcut.com