TikTok Shop recently held its Pilipinas Summit 2024, themed “One-Stop Shop Empowering Sustainable Business Growth.” The event, attended by over 700 brands, businesses, sellers, content creators, and partners, showcased TikTok Shop’s approach, merging content and commerce to foster business growth across various sectors.
Since its launch in 2022, TikTok Shop has introduced several new features, such as Shop Tab, TikTok Shop Mall, and Super Brand Day, aimed at empowering Philippine businesses. These enhancements have led to significant growth in engagement and sales.
Livestream and short video views increased by 1.5 times compared to Q1 of 2023, while the total value of goods (GMV) through Shop Tab saw a ninefold increase compared to Q2 of 2023. Super Brand Day boosted GMV by over 250% in 2024 compared to non-Super Brand Days, and TikTok Shop Mall onboarded over 120% more sellers versus November 2023. Key product categories, including electronics, fashion, lifestyle, and FMCG, have also experienced notable growth.
“Because TikTok Shop is able to connect businesses of all sizes with consumers and the wider TikTok community, we significantly enable these SMEs, to create a holistic and seamless e-commerce experience and make real connections with new audiences, allowing them to reach a broader market,” said Jonah Ople, category lead for Fashion, TikTok Shop.
An example of TikTok Shop’s success in empowering local businesses is Josefina’s Homemade Food. Founded by Abbie Ricohermoso, this business transitioned from a small eatery in Bicol to a nationwide brand selling bottled ready-to-eat products. The company’s top product saw a 22% sales increase, highlighting TikTok Shop’s role in connecting local businesses with a wider customer base.
“Through TikTok Shop Summit Pilipinas, we hope to have a backbone of inspiration and knowledge to level up our business and to make the most of the potential of e-commerce,” said Atty. M. Marcus Valdez II, director of the E-commerce Bureau Regional Operations Group at the Department of Trade and Industry (DTI).