In the ever-changing world of e-commerce, staying ahead of the curve is crucial for businesses to thrive and at Tradehub, we bring you monthly exclusive insights offering a glimpse into the dynamic e-commerce landscape in Malaysia.
This report is powered by robust data analytics from two industry leaders: Mobduos for Shopee and Kalodata for TikTok. But before we dive into the exciting findings, a word of caution: while our data provides valuable insights, always remember that there may be slight variations from real-time statistics. Get a free trial to Shopee and Tiktok Bigdata and let us know if you would like a promo code to purchase when you find them essential .
TikTok’s Phenomenal Ascent: The New Trendsetter in E-commerce
Imagine witnessing a platform’s sales skyrocket by nearly 200 million Malaysian Ringgit in just a month! That’s the exciting trajectory TikTok is currently on and at this rate TikTok is on track to hit a staggering 1 billion RM in sales before the anticipated 11.11 sales event.
So, what’s driving this unprecedented growth?
A standout contributor to TikTok’s success is the Muslimah fashion category, Its growth rate, along with several subcategories, has exceeded an impressive 70%. This indicates not just a trend but a potential shift in consumer behavior.
Top Tip: For savvy sellers, Kalodata is the tool of choice for uncovering the hottest trends on TikTok. It equips you with the knowledge to spot emerging trends and identify the right affiliates to collaborate with.
Shopee’s Steadfast Position
Shopee, on the other hand, has been maintaining its stronghold in the Malaysian e-commerce landscape. With monthly sales revenues hovering around the 1.5 billion RM mark, Shopee continues to wear the crown as Malaysia’s leading e-commerce platform. What’s intriguing is that TikTok’s impressive growth hasn’t significantly dented Shopee’s position.
This suggests that TikTok might be attracting a fresh group of buyers rather than directly competing with Shopee’s existing customer base. With Malaysia’s e-commerce penetration rate standing at 48.7% according to statista, there’s still ample room for revenue growth, and Shopee seems to be navigating this landscape with finesse.
TikTok’s Bold Aspirations
TikTok isn’t content with just being a player; it aims to be the game-changer. The platform has set an ambitious target of achieving a staggering USD 1 trillion in sales worldwide by 2025. This audacious goal underscores TikTok’s potential as a major force in Malaysia’s e-commerce landscape, opening up exciting opportunities for sellers and affiliates.
Conclusion: All Aboard the E-commerce Express
In a market as dynamic as e-commerce, it’s never too late to hop on board. The TikTok phenomenon, coupled with Shopee’s resilience, paints a compelling picture of Malaysia’s e-commerce future. The growth potential is evident, and businesses have a unique chance to be part of this flourishing landscape.
Intrigued by these insights? If you’re looking for a deeper dive into the data or personalized analysis for your business, don’t hesitate to reach out. The world of e-commerce is moving fast, and staying tuned to the trends is your ticket to success.
So, are you ready to ride the e-commerce wave in Malaysia? Let’s grow together, follow the trends, and make the most of this exciting journey.