TikTok, the leading destination for short-form mobile video, gathered over 67 brands in Malaysia during the recent TikTok Mega Sales Event 2024 with the aim of transforming and supporting businesses to get the best of both content and commerce for the biggest shopping season in Malaysia. With almost 83% of Malaysian consumers relying on social entertainment platforms for products and goods, more and more businesses have embarked on digital marketing solutions for shoppertainment, reaching out to their audiences with entertainment, education, and product content.
As Malaysia's digital economy is on a growth trajectory, TikTok aims to assist businesses with the right digital approach and platform for shoppertainment and community growth. Therein lies the opportunity for businesses to target consumers with the right approach and supplying them with the information and products that they demand. TikTok's Mega Sales 2024 Event saw over 200 attendees from 67 brands, which included industry leaders from F&B, Beauty, Telecommunications, Healthcare and many more, TikTok Shop Partners, and Sellers who were keen on cutting through traditional means of reaching their target audiences.
During the Mega Sales 2024 event, TikTok shared insights and statistics with attendees on the nature of TikTok users during Malaysia's double-digit shopping season and how businesses can reach their ideal shoppers during the upcoming shopping season in Malaysia. Insights include:
- 59% of TikTok users indulge in retail therapy on a weekly basis
- 50% of TikTok users watch content and shop on the platform at the same time
- 89% of TikTok users shopped during Mega Sales Events last year (11.11 Sales, 12.12 Sales, Festive Sales)
- High-spending shoppers spent an average of US$265 (around RM1,100) at each sale event at year-end, leading to almost 6x growth in conversions from discovery to purchase in H2 2023
- 4 distinct shopper personas on TikTok namely:
- The Bargain Hunters - Always seeking the best deals and discounts, carefully comparing prices, reading reviews, and searching for vouchers to maximize value.
- The Effortless Shoppers - Prioritizing convenience and efficiency, enjoying personalized recommendations, fast checkouts, and one-click purchasing or automatic reordering without leaving the app.
- The Inspirational Shoppers - Influence others by discovering new products and brands, valuing the buying experience and making intuitive decisions from content rather than extensive searches.
- The Purposeful Shoppers - Seeking brands that emphasize product quality, sustainability, and social responsibility, and prefer those that align with their values and support a healthier, sustainable lifestyle.
Maximizing the Potential of Each Business
TikTok also shared and encouraged more Malaysian businesses to adopt the PACE Strategy:
- Persona: The starting point for Shoppertainment that defines your assortment, content and empowerment strategy.
- Assortment: Curate an optimal product mix to drive AOV and Traffic uplift.
- Content: The magnet to draw people in the loop from discovery to purchase.
- Empowerment: Enable sustainable growth through Advertising, Marketing, and the right Operating Model.
"E-commerce in Malaysia is an increasingly pivotal catalyst for the economy, creating new opportunities for sellers of all shapes and sizes, including new and exciting ways for buyers to shop. This exceptional growth in e-commerce is radically changing how Malaysians shop and do business. At TikTok we are committed to providing businesses with the right tools that can help them strategize and transform their approach to successfully reach their target audience," shares Delilah Chan, Head of Partnerships - Singapore, Malaysia, Indonesia.
Successful adoption of Digital Marketing Solutions
A leading food and beverage business in Malaysia connected with its younger audience on TikTok by launching a branded mission to feature its latest offerings and promotions. A branded campaign with TikTok Creators and Spark Ads resulted in them achieving over 22 million views on their campaign hashtag, an 81% increase in conversations surrounding the brand on TikTok, and a 6% increase in product purchases.
Another prominent local telco used TikTok to increase attention to their products in a highly competitive market, leading to a rise of 41% in customer conversions, and cutting their marketing budget in half. A smartphone brand made the most out of tools such as Branded Missions, Branded Effects and In-feed ads to launch their latest phone. Using a full-funnel strategy that included real TikTok users to create organic content, as well as influencers for better visibility, they were able to increase their online ad awareness to 21.1%, and saw an increase of 17.5% in sales in comparison with their previous quarter.
Businesses can apply TikTok's PACE strategy during TikTok Shop's upcoming Double Digit Sales (9.9, 10.10, 11.11, 12.12 Sales) where businesses can benefit from a series of support inclusive of promotions on the TikTok Shop Tab, traffic support as well as product and voucher support.
Aspiring entrepreneurs and business owners who are interested in TikTok's shoppertainment strategy can easily hop on-board TikTok community's excitement to shop and leverage a full-funnel strategy with branding and performance solutions, whether on D2C platforms, marketplaces or on TikTok Shop. Simply visit here, and discover who their shopper personas are, learn more about our PACE framework, or even visit us during our upcoming Mega Sales events!
