1、Significant Sales Growth
Malaysia, as one of the hottest e-commerce markets in Southeast Asia, has always been a focal point for TikTok, and fortunately, the market has not let down TikTok's long-standing efforts.
Reportedly, TikTok Shop's Malaysian site recently released a set of data: in the first half of 2024, TikTok Shop's sales increased by 220% year-on-year, the number of platform sellers grew by 180% compared to the same period last year, and the scale of affiliate creators also expanded by 1.8 times compared to the previous year.
In response, the relevant person in charge of TikTok Shop Malaysia stated that the rapid growth of key indicators reflects the shift in online consumer behavior in Malaysia, with shoppers increasingly discovering brands and products through content.
Indeed, this is not the first time TikTok Shop has achieved success in Malaysia.
We know that since entering the market in May 2022, TikTok Shop has grown to become one of the leading online sales platforms in Malaysia, quickly gaining popularity among consumers and sellers. During its first major promotion—the Malaysian Summer Promotion—TikTok Shop's Gross Merchandise Volume (GMV) achieved an increase of over 85%, vividly demonstrating what it means to be a "late bloomer".
As of 2023, according to data previously released by TikTok Shop, by the end of 2023, the platform had already gathered over 1 million sellers and 1.7 million co-creators in Malaysia, presenting a vibrant and thriving scene.
2、Strengthening the Layout
To be honest, TikTok Shop's impressive achievements in Malaysia are inseparable from the strong boost of the local e-commerce market. As the third-largest economy in Southeast Asia, Malaysia's e-commerce industry has, in recent years, been on a fast track of development, with a bright future ahead.
According to Statista, in 2024, the e-commerce penetration rate in Malaysia is expected to be around 31.4%, and by 2029, it is projected to rise to 52.8%, by which time the number of e-commerce users in the market will reach 18.8 million. Bain analysis data indicates that by 2025, the e-commerce market size in Malaysia could exceed $1.9 billion.
Of course, as the saying goes, "to forge iron, one must be strong oneself." The e-commerce market in Malaysia is highly competitive, and TikTok Shop will need to put in some effort to stand out.
As early as the end of 2023, TikTok Shop launched the TikTok Shop Mall brand mall in Malaysia and promised to offer 100% genuine products, free delivery, and a 15-day free return policy, among other benefits. Shortly after the mall's launch, 600 Malaysian local and international big brands announced their cooperation with TikTok Shop, further enriching the platform's product matrix and providing consumers with higher quality e-commerce services.
Furthermore, in June this year, TikTok Shop announced a collaboration with the Malaysian External Trade Development Corporation (MATRADE), planning to assist at least 30 local companies in creating sales of 15 million Ringgit (approximately 23.12 million RMB) through the #ThisisMY campaign. Regarding this partnership, Anuar Fariz Fadzil, the Public Policy Lead for TikTok Malaysia, said, "Through this collaboration, our goal is to help Malaysian brands fully realize their potential on the platform, thereby expanding their businesses and reaching new heights."
It is foreseeable that with TikTok's continuous expansion, the platform's e-commerce share in Malaysia will continue to rise. For sellers who are focused on the Southeast Asian market, this also means that more opportunities to showcase their products and reach potential consumers will emerge. Sellers must seize these opportunities.
翻译自跨通社
原文链接：https://www.dsb.cn/p/01j8yj2k8ytv0ng70gc9fyrs88
