Earnest Analytics reposted this
Chief Strategy Officer at Packhelp | Marketplace, Retail & Digital experience | Entrepreneurial spirit
TikTok Shop Gains During 'Deals for You Days'📈 Earnest Analytics has recently analyzed credit card data to understand the impact of TikTok Shop's 'Deals for You Days' on US ecommerce. 📊 TikTok Shop Gains Market Share TikTok Shop's market share in Chinese ecommerce sales in the US hit 37% for the week ending July 11, 2024, up from 0% a year ago. The event coincides with other major sales like Walmart Deals, Target’s Circle Week, and Amazon Prime Day. TikTok Shop hosted brands like Benefit Cosmetics and COOLA, and creators such as simplymandys, Stormi Steele, and Tati Westbrook showcased their favorite products. 🛍️ Increased Customer Spend Starting July 9, brands like L’Oréal Paris, Maybelline New York, and Too Faced offered deals on TikTok Shop. Average customer spend hit a historic $52, despite a dip since March. TikTok Shop customers typically spend 70% of what Temu and Shein customers do, often making impulse purchases. 📅 Ongoing Sales 'Deals for You Days' does not have a set end date, extending the opportunity for increased sales. Live events and brand activations continue to attract customers and drive engagement. “We’re excited to see such a positive response from our community,” said a TikTok Shop representative. ~~~ ✍️ How do you think TikTok Shop's strategy compares to its rivals? ♻️ Reshare if this resonates with you. 💌 To never miss insights like this subscribe to MarketMaze. Link in bio #TikTokShop #DealsForYouDays #Earnest #EarnestAnaltics