Conduct market research and optimize marketing strategies

Before entering a new market or country, conduct market research, analyze performance data, and assess market potential. Improve your marketing strategy by identifying content types, sales metrics and trends, popular product categories, and more.

What is echotik and why should I use it?

echotik is a data analytics and insights tool for TikTok shop. By providing information on trending products, talented influencers, trending short videos, quality livestreams, market research, competitive analyses, we can help TikTok shop sellers/brands/creators/affiliates make better and data-driven decisions to increase their sales and revenues, as well as boost the efficiency of day-to-day operations.

How does echotik get its data, and how accurate is it?

echotik gathers TikTok e-commerce data by having our tech team collect information from public channels. We then use advanced AI models and data processing techniques to refine this data. Keep in mind that certain details, like transaction amounts and ad spending, might have small variations from real-world numbers. With our models getting trained and updated daily, the accuracy of our data is continually improving. Our main goal is to help users discover products, stores, and content that are worth exploring, learning from, and getting inspired by, enabling them to shape well-informed business strategies. However, it's important not to use our data in situations requiring high precision, such as partner commission settlements or performance evaluations.

What is the background of the team?

Our management team came from TikTok's global e-commerce division and were the key members in the development of TikTok Shop from the beginning. Additionally, our core team consists of professionals with extensive experience in data analysis, social media, and marketing. The team members have served renowned enterprises and institutions and possess successful project experience and industry insights.

Data about TikTok Shop can be analyzed from multiple perspectives. Here are some important statistics and trends:

1. User scale and activity

Global user base: TikTok has a large user base worldwide. According to the latest statistics, TikTok's downloads and monthly active users (MAU) continue to rise. For example, in the first half of 2024, TikTok's global average monthly downloads reached 81.73 million times, an increase of 6.6% year-on-year. In the US market, MAU has stabilized at more than 170 million, becoming one of the important markets for TikTok Shop.

Southeast Asian market: Southeast Asia is a key region for TikTok user growth, including countries such as Indonesia, Vietnam and Thailand. The number of users in these regions has increased rapidly, making them an important market for TikTok Shop. In Thailand, nearly half of the residents use TikTok, and the platform has become an indispensable part of their daily lives.

2. Market performance and sales

GMV growth: TikTok Shop's gross merchandise volume (GMV) has shown strong growth in multiple markets. In Southeast Asia, TikTok's GMV reached US$4.4 billion in 2022, almost three times that of the previous year. In the first half of 2024, Thailand ranked first in the Southeast Asian market with a GMV of US$3.78 billion, showing huge market potential.

Performance in the US market: Despite some challenges, TikTok Shop still performs well in the US market. In June 2024, TikTok Shop's GMV in the United States reached US$496 million, a month-on-month increase of 2.27%. Categories such as beauty and personal care, women's clothing and men's clothing dominate the US market.

3. Live streaming and e-commerce trends

Live streaming: TikTok's live streaming has rapidly risen globally and has become an important force in promoting e-commerce growth. In Thailand, the craze for live streaming is particularly obvious, and the number of live streaming experts ranks third in Southeast Asia. In the US market, TikTok's live streaming scale is also continuing to expand, with an average monthly sales of US$460 million, a month-on-month increase of 117%.

E-commerce trends: With the continuous improvement of TikTok's e-commerce ecosystem, more and more brands and sellers have begun to settle in TikTok Shop. TikTok not only provides sellers with rich traffic resources, but also helps sellers improve sales efficiency through algorithm recommendations and live streaming.

IV. User Behavior and Preferences

User age distribution: TikTok's main user group is between 16 and 28 years old. Users in this age group are curious about new things and are willing to try new shopping methods and products.

Geographic and cultural factors: Users in different regions have their own preferences and shopping habits. When selecting products, factors such as region, religion, culture and customs need to be considered to meet the needs of different user groups.