TikTok Shop Vietnam is currently one of the potential online sales markets for sellers. Along with the explosion in the number of users and the virality of many videos on the Tiktok platform. The birth of the Tiktok shop promises to be one of the “successful” e-commerce channels for sellers if they know how to seize business opportunities on this platform!
Citing the report “Shoppertainment: APAC’s Trillion-Dollar Opportunity”, TikTok said that Vietnam is one of the most potential markets for the trend of shopping combined with entertainment, which is expected to lead the commercial electronics in Southeast Asia.
The appearance of TikTok Shop has affirmed the throne of shopping combined with entertainment in the Vietnamese market within the past one year.
Sharing at the event, Mr. Nguyen Ngoc Dung, Chairman of the Vietnam E-commerce Association, said: TikTok Shop has been making significant changes in the appearance of the e-commerce industry in Vietnam. The remarkable progress of TikTok Shop in the past one year has confirmed the development prospects of this platform with the cooperation of the business community, merchants, content creators, and users.
In a short time, TikTok Shop has shown the special influence of this platform on businesses, sellers, and shoppers across the country. In the past six months alone, the GMV (total value of goods) of TikTok Shop increased 11 times, of which the number of orders increased six times. Some categories are taking up a large proportion, and the main customers of TikTok Shop today are fashion, accessories, food and beverages, beauty care, and electronics.
Also Read: How TikTok co-creation strategy is supercharging Southeast Asian SMBs
Currently, there are about 50 million hours of video watching on TikTok every day in Vietnam, not to mention watching live streams.
Besides, TikTok has become the user’s favourite discovery tool. Content on the platform stimulates them to discover new brands and products naturally, even making unplanned purchasing decisions. Half of TikTok users admit they discovered a new product or brand while using the platform, and 89 per cent made an unplanned purchase after watching a video on TikTok. This is also the highest number of all existing social networking platforms.
Sell to people who don’t need it
A representative of TikTok Vietnam said that TikTok’s idea is to sell to people who have no need. After implementing this idea, there were days when TikTok recorded 700,000 – 800,000 shoppers in Vietnam. The number of sellers is also up to several tens of thousands.
Specifically, the TikTok platform provides three types of services. The first is to help users be entertained when watching videos. The second is entertainment for learning, such as cooking skills, learning English, etc. Finally, TikTok provides shopping entertainment services. Users who view TikTok after seeing other people buy will generate shopping behaviour.
As can be seen, TikTok’s way of doing this is to create opportunities for buyers, sellers, and manufacturers so that all have to pay the lowest cost. Sellers and manufacturers can completely focus on their expertise, regardless of marketing, while buyers will buy goods at the cheapest price.
The representative of TikTok Vietnam explained that every person who produces any product has a reason. TikTok allows them to tell their story. People who use the product also have the opportunity to recount why they use the product. From there, ordinary consumers can listen and make decisions.
Accompanying the local economy
Not only quickly adapting to new shopping trends in Vietnam, but TikTok Shop also “paved the way” for Vietnamese specialities to come closer to Vietnamese people. In rural development, TikTok launches the OCOP Live Market project to sell OCOP specialities every Saturday morning, introducing OCOP products in provinces and cities nationwide.
Also Read: Unstoppable surge: Vietnam’s e-commerce growth continues to soar
Approaching the way of selling product stories, TikTok aims to improve the livelihoods of 20,000 local cooperatives, people from craft villages, and small businesses spread across 63 provinces of Vietnam, contributing to preserving the local traditional culture and promoting tourism in the regions.
TikTok Shop also organises professional training classes for farmers and businesses on how to build short video content, on creative advertising solutions TikTok for Business, and establishes a separate category for OCOP products on the Internet. TikTok Shop e-commerce features.
TikTok Shop continues to strengthen comprehensive solutions
It can be said that, after the period of explosive development, traditional e-commerce began to slow down and witnessed the explosion of social commerce (selling via social networks).
Experts say that social commerce is the future of retail. The combination of social media, video, and e-commerce has made shopping more fun and interactive. This is a two-way interaction between buyers and sellers, instead of one-way from sellers like current e-commerce platforms.
Before TikTok Shop, TikTok was very successful in Influencer Marketing (marketing by social influencers) with the explosion of short videos, KOC (key consumer) networks, and KOLs (people). influential in society) active activity on the platform has helped many brands reach their target customers more easily, thereby gaining consumer trust and revenue growth.
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