TikTok’s Gold Rush Opportunities Are in “Global Brands”
“Wang Yibo, Yang Yang, Yang Mi, Dilireba, Xing Fei… are the most popular Chinese stars among Indonesian young people recently. I said in the short video or live broadcast that Xing Fei used the same lipstick in the play, I have the same color, This lipstick became an instant hit.” Celine, the anchor of TikTok Indonesia station, told the owner.
Celine is Indonesian, an international student at Tsinghua University, and a part-time anchor of Nanyang Bridge Culture. With one year of experience in bringing goods, she already has more than 1 million fans on TikTok.
From 2021, e-commerce has become a key direction for TikTok. An internal team code-named “Magellan XYZ” is fully responsible for TikTok’s e-commerce business.
Indonesia and the United Kingdom are the first two countries where TikTok opened its e-commerce business. Once the UK runs through, it will lay a solid foundation for the development of the North American market. Another experimental country, why is Indonesia?
With a population of 271 million, Indonesia is the fourth most populous country in the world, with a young population structure and an e-commerce penetration rate of only 4.26%. This fast-growing developing country is also the Southeast Asian country with the highest concentration of TikTok users.
There is no “Li Jiaqi” type of existence in the current Southeast Asian market, and live streaming is still in the market cultivation period. However, a group of brands tailored for Southeast Asian consumers quickly sprinted along TikTok’s “airway”.
A number of Chinese teams, including the former OPPO team, have begun to create DTC brands for beauty and skin care in Southeast Asia, and they have become the most eye-catching “capital darlings” in the TikTok e-commerce industry chain.