TikTok Marketplace Monitor｜July, 2024

OVERVIEW

In July 2024, TikTok Shop USA reported a total sales volume of $687 million, reflecting a 14.76% month-over-month growth. The daily average sales amounted to $22.1 million.

In July, TikTok Shop's top 10 categories amassed $471.4 million in Gross Merchandise Value (GMV), reflecting a 16.57% increase from the previous month.

The top three categories collectively contributed 55.52% to the total GMV, with the Beauty & Personal Care category comprising 18.4%, representing an 8.55% decrease in its proportional contribution compared to the previous month.

The rankings of the top 10 categories remained largely unchanged from the previous month. Beauty & Personal Care, alongside Womenswear & Underwear, continued to dominate the market, posting month-over-month growth rates of 15.6% and 16.17%, respectively.

Category Analysis

In July, the Household Appliances category experienced the most substantial growth, surging by 31.22% from the previous month and advancing from the 10th to the 7th position in the rankings. Similarly, the Phones & Electronics and Collectibles categories saw notable increases of 26.55% and 20.65%, respectively.

The growth in these categories diminished the proportion of the top three categories in the total GMV.

Menswear & Underwear was the only category to witness a decrease in GMV. Despite experiencing the most substantial growth last month, with a 46.25% increase from May, its total sales in July saw a slight decline of 0.43%, amounting to $23.3 million.

Additionally, over the past three months, Milamiamor's 15 Day Cleanse - Gut and Colon Support and Micro Ingredients' Multi Collagen Peptides have consistently held the top two positions among best sellers. However, this month, CAKES body's covers ascended to the top spot with $5.55 million in sales.

Vendors Spotlight

The notable presence of new entrants, which now occupy half of the top list, underscores a dynamic and evolving marketplace. The GMV figures indicate a highly competitive environment, especially from ranks 5 to 10, where the GMV values are closely aligned.

For the first time, new entrants have secured positions within the top three. Notably, two newcomers have ascended to these top ranks.

ONE SIZE BEAUTY achieved the 2nd position with monthly sales of $5.64 million. The shop's sales are characterized by a broad and balanced portfolio, with its top three best-sellers each moving over 30,000 units in the past 30 days. Additionally, most of their leading products have a long market presence, having been released over six months ago.

While the other newcomer, CAKES body, relied heavily on a single product for their sales. In July, CAKES body ranked 3rd with $5.55 million in sales, with the majority stemming from their CAKES covers, which topped the TikTok USA's product list.

Additionally, it is noteworthy that another newcomer in the Beauty & Personal Care category, Wavytalk, has emerged in the 6th position. Unlike other shops in the category that focus on skincare products, Wavytalk specializes in hair brushes. Their top product sold 49,090 units, generating $1.61 million in sales.

Also noteworthy is the Upholstery Deodorizer Household Scented from Mavwicks Fragrances LLC, which sold 174,000 units last month, generating $1.07 million in sales.