From simply being a social media platform, TikTok has evolved to be a platform for businesses, especially for small and medium-sized businesses (SMEs), and that is what the recent TikTok Shop “Summit Pilipinas 2024" highlighted: the growth of the platform and its partners since its launch.
With the theme "One-Stop Shop Empowering Sustainable Business Growth,” the event was attended by over 700 brands, businesses, sellers, content creators, and partners, all of whom utilized TikTok Shop and how it helped them grow their businesses in the past years.
During the summit, the platform presented how its solutions, including Shop Tab, TikTok Shop Mall, and Super Brand Day, have boosted livestream and short video views by 1.5x vs. Q1 of 2023, which helped with the increase in the total value of goods (GMV) through the Shop Tab by 9x vs. Q2 2023, while Super Brand Day recorded a whopping 250% increase in GMV in 2024 vs. non-Super Brand Days, and TikTok Shop Mall saw a 120% increase in onboarded sellers vs. November 2023.
The data presented during the event was also backed up by sellers who graced the event, bringing their own stories to further inspire other aspiring sellers on how to utilize TikTok Shop in terms of growing their business, no matter how big or small it is.
The summit was also attended by TikTok Shop's Category Lead for Fashion, Jonah Ople, Director of E-commerce Bureau Regional Operations Group at the Department of Trade and Industry (DTI), Atty. M. Marcus N. Valdez II, who instills the agency’s initiatives to support digital commerce, and TikTok Shop’s latest brand ambassador, Ivana Alawi.
Through the event, TikTok Shop reaffirmed its commitment to empower Filipino businesses through its initiatives to promote inclusive and sustainable economic development in the Philippines.
