The event aimed to empower local micro, small and medium enterprises (MSMEs) and homegrown brands by unveiling key updates that will shape the future of online shopping.
Small businesses and local entrepreneurs are expected to be the biggest beneficiaries, as 98 per cent of the over one million sellers on TikTok Shop in Malaysia are MSMEs.
DISCOVERY E-COMMERCE
During the event, TikTok Shop announced that it saw 2.2 times growth in sales, a 1.8 times uplift in sellers and a 1.8 times increase in affiliate creators year-over-year within the first half of 2024.
This demonstrates the shifting consumer behaviour of Malaysian online shoppers, who are now inclined towards discovering brands and products through short videos and livestream content.
TikTok Shop provides local entrepreneurs with greater opportunities to build lasting homegrown brands. MSMEs can tap into its comprehensive Shoppertainment ecosystem and full-funnel solutions to shorten the browse-to-buy customer journey while building authentic communities.
Dapur Pak Amir, a local disabled seller on TikTok Shop, showcased this potential by building over 37,500 store followers and selling more than 19,200 products through content, even receiving interest from global markets such as Japan, Dubai and the United States of America.
ENHANCED SUPPORT FOR SELLERS
TikTok Shop announced that it will subsidise 5 times more vouchers and provide dedicated traffic exposure to further drive growth for sellers, especially during the year-end sales season, including 10.10, 11.11 and 12.12.
TikTok Shop also introduced its stackable Unlimited Free Shipping voucher to Malaysians, enabling shoppers to combine multiple discount vouchers and shipping vouchers in a single checkout*. The voucher is an innovative offering that will provide Malaysians with greater value while driving conversion and revenue for sellers.
Finally, TikTok Shop launched the all-new Bonus Cashback, where customers can collect and accumulate cashback daily to be used on eligible products for extra discounts*.
The TikTok Shop Summit's creator-matchmaking and knowledge-sharing sessions taught entrepreneurs how to tap into these new growth opportunities, training them to engage with customers at scale from discovery to purchase effectively.
These investments and upskilling efforts will significantly lower the barriers of entry for MSMEs, enabling them to participate in the digital economy, but also increase their online visibility and sales volume during key promotional periods.
#JOMLOKAL INITIATIVES
TikTok Shop announced a collaboration with the Domestic Trade and Cost of Living Ministry to promote Buy Malaysian Products campaign (KBBM) in line with its #JomLokal initiative.
The announcement was witnessed by minister Datuk Armizan Mohd Ali.
Through the collaboration, TikTok Shop will empower over 8,000 local sellers by spotlighting 300,000 locally-made products through a dedicated KBBM page.
From now until Dec 31, users simply need to search for "KBBM" or "Kempen Beli Barangan Malaysia" on TikTok Shop to discover and support local products.
To incentivise Malaysians to support brands, shoppers can look forward to discounts of up to 30 per cent, Free Shipping vouchers and local creator spotlights.
Aspiring entrepreneurs, local MSMEs and homegrown brands can start their e-commerce journey by signing up at TikTok Shop Seller Center and exploring the step-by-step tutorial courses at TikTok Shop Academy.
*Terms and conditions apply.