In this year's domestic 618, the live broadcast results of many platforms are still the "keywords" in the battle report. Live e-commerce is not new in China, and it is also booming overseas, and we have accumulated some new observations on this.
Recently, there was a news widely circulated in the business circle that the British beauty brand Made By Mitchell launched a summer sale on TikTok Shop, and sales exploded instantly. The beauty brand, founded by local TV personality and make-up artist Mitchell Halliday, became the first TikTok Shop brand in the UK to reach $1 million in sales in a single day. This is another example of TikTok Shop's success in the UK after the sales of live broadcast rooms in the US summer sale exceeded one million.
英国美妆品牌 Made By Mitchell 的直播间战报
Industry insiders know that the UK is not a new market for TikTok Shop. Since its launch in 2021, after several years of precipitation and market education, British consumers and merchants have gradually embraced the live e-commerce model, and TikTok Shop is also becoming an important shopping channel for British consumers - according to a recent report by social media management company Dash Hudson and global consumer data analytics company NielsenIQ, TikTok Shop, which leads this live shopping trend, has quickly become the second largest sales platform in the beauty industry.
We learned from an earlier merchant who joined TikTok Shop that its performance in the UK has been accelerating since the first half of the year, with sales up almost 70% from February to now. This merchant has been investing in overseas e-commerce since 2021, and has successively set foot in Southeast Asia, the United States and other markets. He said that the growth he has achieved in the UK is similar to the explosive state of domestic live streaming e-commerce in 2021.
The main categories on TikTok Shop include fashion and apparel, beauty and skin care, household goods, electronics, etc., of course, the specific categories may change with the market demand and fashion trends. As far as we know, TikTok Shop is working hard to expand the local investment team and talent incubation team in the UK to quickly enrich the supply of goods and promote the launch of influencers.
The above signs may indicate that the explosion of live broadcast e-commerce in the British market is not far away.
1. The secret of success in live streaming in the UK: marathon live broadcast for a long time
British beauty brand Made By Mitchell's success is the result of a 12-hour live "marathon". Held in Manchester, UK, the livestream offered exclusive discounts on several of Made By Mitchell's most popular products, including the popular Liquid Blursh and Curve Case Cream Makeup Palettes. During the 12-hour livestream, branded merchandise was sold every second, resulting in sales of $830,000, helping the brand reach the milestone of $1 million in TikTok e-commerce sales in just 24 hours.
Britain's Got Talent Mitchell celebrates the huge success of the 12-hour live stream
Made by Mitchell was founded in 2020 out of Mitchell's passion for making products for beauty lovers and self-expressionists. It quickly became one of the hottest merchants on TikTok e-commerce, earning him millions of likes for its popular content.
At the event, Mitchell was joined by several special TikTok creators to provide viewers with an enjoyable livestream shopping experience, including Amelia Olivia, makeup artists Hollie Flynn and Becky Morgan, and former Love Island guest and fashionista Mary Bedford. They showcased the brand's best merchandise to TikTok community users throughout the sale. During the livestream, Mitchell used the platform to exclusively launch 8 new products to more than 600,000 fans and viewers.
Speaking after the livestream, Mitchell said: "We are very proud to be the first UK beauty brand to reach the milestone of $1 million in sales in a single day on TikTok Shop. We've gone all out to create the most exciting, engaging, and enjoyable 12-hour live shopping experience for our viewers in true Made By Mitchell style – we just have to be our authentic selves and we get paid. Last year, I celebrated reaching $2 million in sales in a week, so now it only takes one day to reach this staggering number, which showcases the power and potential of TikTok Shop. This is a historic moment not only for Made By Mitchell, but for the beauty industry as a whole, and shows that TikTok live shopping has the potential to drive commerce at scale in a way that is not possible on other platforms. ”
Earlier this month, TikTok Shop U.S. creator Stormi Steele, who led her beauty brand, Canvas Beauty, became the first TikTok Shop U.S. creator to sell more than $1 million in a live stream.
America's Got Talent Stormie celebrates the milestone of breaking a million dollars in a single live stream
Europeans and Americans like Mitchell and Stormy who have found success on TikTok Shop are not alone. Their success is also inspiring more and more entrepreneurs, SMEs to look for opportunities on TikTok Shop. Some analysts believe that the form of live streaming is easier to shorten the distance with consumers, and drive the growth of both brand and sales through the direct display and interesting interaction of anchors.
2. Live streaming with high repurchase potential of social e-commerce in Europe and the United States
According to a research report by Retail Economics, a professional research institution, the British social e-commerce industry is expected to more than double in the next four years, from 7.4 billion pounds to nearly 16 billion pounds by 2028, accounting for 10% of online e-commerce platforms from the current 6%, and the growth rate is four times that of overall e-commerce sales.
Research shows that more than half of UK users buy directly through social media, with TikTok users leading the way in terms of social commerce penetration. Forty-four percent of those surveyed shop directly on TikTok, and a quarter said they shop on the platform at least once a month.
Richard Lim, CEO of Retail Economics, said: "Social commerce has been around for decades, but with platforms like TikTok, we've seen it really accelerate momentum over the past few years. These platforms take advantage of better technology and more convenient business models to create a seamless shopping experience. Add to that the highly entertaining creators and content, and we now have a magic formula that is accelerating the growth of social commerce in a way we've never seen before. ”
In addition, we found that in many overseas markets such as the United Kingdom and the United States, TikTok e-commerce is leading a new shopping culture, and the trend of live streaming is also reshaping the e-commerce ecosystem. This culture is rooted in the discovery nature of the TikTok platform and fosters connections between merchants, creators, and the TikTok community. At the same time, this new shopping experience enables users to discover and purchase items from their favorite creators and brands, while providing brands, merchants, and creators with the tools and opportunities to sell directly on TikTok.
As mentioned earlier, a recent report by social media management company Dash Hudson and global consumer data analytics company NielsenIQ pointed out that TikTok Shop, which is leading the live shopping trend, has quickly become the second most important sales platform in the beauty industry in the UK, and the report also mentioned that TikTok Shop is the ninth largest sales platform in the online beauty and wellness space in the US.
This may be because TikTok Shop is a one-stop, seamless e-commerce ecosystem that combines entertainment, discovery, and shopping. Users can easily discover novelty products and purchase them conveniently while enjoying entertainment. This innovative format has created a new, efficient and low-cost marketing and promotion method, precision marketing and reshaping the purchase chain, attracting a large number of entrepreneurs and small and medium-sized enterprises, leading the trend of "creator economy". This unique model breaks the limitations of traditional shopping, gathers like-minded people through "interest discovery", and continuously converts discovery into purchase with the help of interesting live content, anchor charm, etc.
According to data analytics firm Earnest Analytics, TikTok Shop appears to be doing a good job of getting customers to repeat purchases.
According to foreign media reports, Earnest found through analysis of data that about 27% of TikTok Shop shoppers will buy again five months after their first purchase. In this metric, TikTok Shop outperforms other traditional e-commerce platforms.
数据分析公司Earnest Analytics
With the rapid development of market education and the increase in investment in major platforms, the live broadcast e-commerce industry in the United Kingdom and the United States is expected to enter a new round of dividend period.