TikTok Marketplace Monitor｜November, 2024
The final four days of November drove $311.46 million in sales—averaging $77.87 million per day
OVERVIEW
In November 2024, TikTok Shop USA set a new record with $1.2 billion in gross merchandise value (GMV), a 51% month-over-month surge. Average daily sales reached $39.92 million, with the final four days of November (Nov. 27–30) driving $311.46 million in sales—averaging $77.87 million per day. Notably, Black Friday 2024, which fell on November 29th, contributed significantly to this spike in sales.
Data from Kalodata reveals that TikTok Shop's top 10 categories generated $725.37 million in GMV, reflecting a 31.5% increase from October. The leading three categories—Beauty & Personal Care (17.24%), Womenswear & Underwear (10.52%), and Phones & Electronics (6.17%)—accounted for 33.92% of the platform's total GMV, although the share dropped by 5.37% from October.
Category Analysis
In November, TikTok Shop's top 10 categories remained consistent, despite some shifts in ranking. Like October, November saw robust growth across all categories, with GMV rising by at least 12.57%. And the surge in November was even more pronounced than the previous month.
Fashion Accessories and Collectibles led the growth in October, posting month-over-month increases of 25.52% and 26.05%, respectively. In November, it was Phones & Electronics that surged ahead, up 66.82%, marking its debut in the top three. Home Supplies and Fashion Accessories also saw strong gains, rising 45.08% and 45.02%, respectively.
Meanwhile, Beauty & Personal Care and Sports & Outdoor, despite the high GMV in October, continued their impressive growth in November, with increases of 40.48% and 40.54%.
Top-performing products continued to include Goli Nutrition's Ashwagandha & Vitamin D Gummies (Health) and Beauty-Life's Electric Massager (Beauty & Personal Care). Additionally, Transpeed's Magcubic Portable Projector (Phones & Electronics) made its first appearance in the top five.
Vendors Spotlight
The top 10 TikTok Shop sellers remained largely unchanged in terms of overall shop presence, with only three new entrants marking their debut. However, there were significant shifts in the rankings, signaling fierce competition in the marketplace.
Tarte Cosmetics (Beauty & Personal Care) surged to the top spot, posting a massive 241.95% increase in monthly sales—from $4.1 million in October to $14.02 million in November. This leap elevated Tarte from 3rd place to 1st. Plus, this growth wasn't driven by any single product; instead, sales were balanced across Tarte's product range, with its top three products each generating $1 million in revenue.
Another standout performer, MRO tools brand VEVOR, made an impressive climb to 4th place with $5.99 million in sales, marking a robust 82.07% increase from October. VEVOR's rise was also driven by balanced sales across multiple items, with 1,579 products listed in its shop. In contrast, Tarte Cosmetics and Goli Nutrition (ranked 2nd) only offer 201 and 31 items, respectively, highlighting the strength of VEVOR's diverse product catalog.
Another noteworthy development is the entry of MINISO.US into the top 10 sellers. While the brand is known for lifestyle and consumer goods, MINISO's TikTok Shop focuses primarily on headphones and earphones, with its top three products each generating $1 million in revenue.
DATA SOURCE FROM KALODATA