TikTok Shop recently held its Pilipinas Summit 2024, themed “One-Stop Shop Empowering Sustainable Business Growth.” The event highlighted how TikTok Shop’s innovative platform, blending content and commerce, is enabling businesses of all sizes to thrive in the Philippines.
Over 700 brands, businesses, sellers, content creators, and partners gathered to explore the platform’s potential. Since its 2022 launch, TikTok Shop has implemented solutions like Shop Tab, TikTok Shop Mall, and Super Brand Day. These initiatives have yielded impressive results. Livestream and short video views have increased by 1.5 times compared to Q1 2023, with the total value of goods (GMV) through Shop Tab rising by 9 times in Q2 2023. Super Brand Day saw a massive 250% increase in GMV in 2024 compared to non-event days. In addition, TikTok Shop Mall has seen a 120% rise in new sellers since November 2023. Growth has been significant across various categories, including electronics, fashion, lifestyle, and FMCG.
“Over 2 million local businesses, mostly SMEs, are now on TikTok Shop. By connecting businesses with consumers and the wider TikTok community, we empower SMEs to create a seamless e-commerce experience and reach new audiences, expanding their market reach,” according to Jonah Ople, Category Lead for Fashion at TikTok Shop.
Josefina’s Homemade Food, a business started by Abby Ricohermoso, exemplifies TikTok Shop’s impact on local SMEs. Initially a carinderia in Bicol, it has transformed into a nationwide enterprise selling bottled ready-to-eat Bicol delicacies. Their top product saw a 22% sales increase, showcasing how TikTok Shop connects businesses with new customers and fosters success in the digital marketplace.
The Department of Trade and Industry (DTI) also expressed support for digital commerce initiatives.
“We aim to elevate the experience of our MSMEs and bring them global success,” stated Valdez. “The TikTok Shop Summit provides valuable inspiration and knowledge to help businesses thrive in the e-commerce landscape,” said Atty. M. Marcus N. Valdez II, Director of E-commerce Bureau Regional Operations Group at DTI, as he emphasized collaboration with platforms like TikTok Shop.
Ivana Alawi, the new brand ambassador for TikTok Shop, exemplifies the platform’s potential for creators. Through her brands Ivana Skin and AiBeauty, Alawi has achieved significant success on the platform.
“Live selling on TikTok allows for deeper connection. It’s about building a community and interacting directly with supporters. It’s more personal and interactive, fostering relationships beyond transactions,” said the popular actress.
Looking ahead, TikTok Shop remains committed to empowering Filipino entrepreneurs and creators. Initiatives like TikTok Shop Business School and the upcoming 6.6 campaign demonstrate this dedication. Through collaboration and a shared vision for growth, TikTok Shop and its partners are paving the way for inclusive and sustainable economic development in the Philippines.