Tag: Singles Day

Kuala Lumpur, Malaysia – With the holiday season around the corner, TikTok Shop gives Malaysian SMEs a boost during this 11.11 sales period by providing greater support for local small businesses with a brand spotlight segment. 

Focusing on Malaysian local brands, Tiktok Shop’s spotlight segment promoted several brands including dessini, casevalker, farm fresh and barang dapur basah as well as its very own Pertarungan Livestream Mega 11.11 (Mega Livestream Showdown 11.11).

This event, which was streamed on TikTok Shop, featured 10 well-loved local creators @tulippetals, @khairulaming, @dearcarynn, @bossa_sce_oe, @bossjerry88, @crackbrader, @aidunoo, @peemondayz, @almiyaz.my, and @akak_e, which took to their livestream sessions and highlighted their 11.11 product promotions as part of one of the biggest e-commerce events of the year.

Shoppers also acquired no minimum spend vouchers available through these livestreams between 8pm to 12 midnight on 11.11 itself to enjoy further savings on their purchases.

Alongside the livestream sessions, as part of the event, TikTok shop also provided entertainment with live performances by talented artists such as @daliafarhana, @gastonpong, @shilaamzahofficial, @itzputridahliaa, and @danialkifli__ .

These efforts by TikTok Shop to assist SMEs follow through from their efforts in 2022, partnering with 50 local ministries, GLCs, Educational institutions, and state governments to provide and build support for its sellers. 

This also includes a joint investment with MDEC worth RM31 million for the DE Dagang initiative, which benefitted 22,000 sellers in the form of product discounts, shipping vouchers, and transaction fee subsidies.

This was further amplified through the TikTok Shop Summit, held in 2023 to celebrate the platform’s 1-year anniversary in the Malaysian market, with TikTok Shop celebrating, educating, and awarding sellers for their contribution to the nation’s economy.

Singapore – With Singles Day emerging as the top shopping season in Southeast Asia, over 50% of Singles Day first-time shoppers return for more, highlighting untapped potential for retailers according to a report by commerce media company Criteo.

Regionally, the report said that Singles Day emerged as the top shopping season with a 139% increase in sales while Black Friday saw a substantial 42% growth. New buyers surged by 335% on Singles’ Day, emphasising the value of acquiring them.

Specifically, Singles Day (11.11) experienced the largest increase in sales in SEA with Singapore, Malaysia, and Thailand witnessing the largest spike amongst SEA countries, with an increase of 192%, 214%, and 210% respectively. Regionally, other shopping events such as 12.12 saw sales spike by 112%.

Black Friday also rose in popularity as retailers in SEA saw a 42% increase in sales in 2022, compared to 17% in 2021. In Vietnam, retailers experienced the highest sales growth on Black Friday (+141%), which is likely due to Black Friday coinciding with the Vietnam Grand Sale 2022, a national effort to boost domestic consumption and support economic recovery in the post-pandemic period.

The report also stated that new buyer opportunities arise not only before, but also during and after key shopping events as significant spikes in purchases by new buyers rose by 335% on Singles’ Day, and 9% on Black Friday compared to September 2022. 

In addition, 51% of 2022 Singles’ Day new buyers made additional purchases from the same retailer between December 2022 and May 2023, highlighting the lasting benefits of acquiring new customers during peak events.

With this in mind, Criteo also provided some actions that brands and retailers can take such as capturing new buyer opportunities through investing in acquiring customers during the peak season, planning early for early shoppers, and launching campaigns earlier for better customer engagement. 

Talking about the results, Taranjeet Singh, managing director, enterprise, at Criteo APAC, said, “In the dynamic world of commerce, our insights from 2022’s Double Days reveal a clear trend – seasonal sales are a marathon not a sprint. At Criteo, we eagerly anticipate each year’s insights as an opportunity to empower our brand and retail partners in aligning consumers with the essentials they seek, fostering meaningful connections.” 

“By integrating data and technology, supply and demand, and online and offline realms, we empower brands to construct a comprehensive peak shopping season strategy that ensures an unparalleled multi-touchpoints customer journey,” he added.