TikTok Marketplace Monitor｜June, 2024
Sports & Outdoor surpassed the Healthcare to claim the 3rd position
OVERVIEW
In June 2024, TikTok Shop in the USA reported a total sales volume of $579 million, marking a 15.56% increase month-on-month, with a daily average of $19.3 million.
In June, TikTok Shop's top 10 categories accumulated $404.4 million in Gross Merchandise Value (GMV), representing an 8.89% increase from the previous month. The top three categories collectively contributed 55.76% to the total GMV, with the Beauty & Personal Care category alone comprising 26.95%.
Beauty & Personal Care, alongside Womenswear & Underwear, maintained their dominance in the market, with month-over-month growth rates of 2.8% and 18.72%, respectively. Collectibles have the highest average price ($39.34) but a relatively lower GMV, suggesting fewer transactions or niche appeal.
Category Analysis
In June, Menswear & Underwear experienced the most substantial growth, soaring by 46.25% from the previous month, advancing from the 10th position to the 7th in the rankings.
Meanwhile, Sports & Outdoor items saw a notable increase of 30.56% compared to the previous month, surpassing the Healthcare category to claim the 3rd position.
Back in April, Healthcare sales surged by 65% to $40.7 million, nearing the second position. In May, however, sales grew modestly by 2.7% to $41.8 million. By June, Healthcare sales dropped by 9.33%, causing it to slide out of the top 3 to the 4th position in the rankings.
Last month, healthcare products dominated as the top three best-selling items. This month, a beauty & personal care product claimed the 3rd position among the best-sellers.
Vendors Spotlight
There is a notable presence of new entrants, particularly in the Beauty & Personal Care and Apparel sectors, indicating a dynamic and evolving marketplace. Meanwhile, the GMV values suggest a competitive environment, especially from ranks 4 to 10, where the GMV values are relatively close.
Last month, half of these top spots specialized in health products, but this month, health stores only occupy one third. Despite this shift, the top 3 shops from last month maintain their strong positions.
This month, two stores in the Beauty & Personal Care category have entered the top ten. The Ordinary Store secured the 4th position with monthly sales of $3.1 million. A standout contributor to this success was their flagship product, the Glycolic Acid 7% Exfoliating Toner, which sold 182,200 units over the past 30 days, generating $1.75 million in sales.
Anua Store US, another newcomer in the Beauty & Personal Care category, achieved a notable debut on this month's top shop list, securing the 5th position with monthly sales totaling $2.7 million. Specializing in Korean skincare products, the store's balanced product offerings have effectively bolstered its sales performance.
Additionally, COWSAR's top-selling product, the Bullet Ice Maker, demonstrated robust growth, with 16,200 units sold in the past 30 days, generating $802.19K in sales.
DATA SOURCE FROM TABCUT