Gloda Insights: TikTok US Week 02 Perfume Market Trend Analysis
Introduction
In the global consumer landscape, the perfume market holds significant importance. It has been evolving steadily, with consumers constantly seeking new and unique scents. TikTok, in the US region, has emerged as a powerful platform with unique advantages. It allows perfume brands to showcase their products in an engaging and visually appealing manner, reaching a vast and diverse audience. This has led to a new wave of opportunities for perfume marketing and sales on the platform.
Category Market Overview
The perfume market in the US is substantial. According to recent data from authoritative sources, it has been experiencing steady growth. The market size has been expanding as consumer demand for different types of perfumes, from floral to oriental scents, continues to rise. Changes in consumer preferences, such as a growing inclination towards natural and long-lasting fragrances, have been shaping the market. Additionally, the influence of social media and online shopping trends has further propelled the growth of the perfume market on digital platforms like TikTok.
Sales Situation of the Specific Category
On TikTok Shop in the US during week 02, the perfume category showed interesting sales performance. The GMV Gross Merchandise Volume for perfumes was $444.69 million, with a quarter-on-quarter growth rate of 2.55%. The sold count reached 185,800, showing a 4.57% growth. Some of the top-selling products included "Choco Musk - Eau De Perfume Natural Spray - 50 ml 1.65 fl. Oz by Al-Rehab" with 13,000 units sold and a GMV of $90,800, and "HOT! Sweet Body Milk Mist - Limited Edition" with 9,420 units sold and a GMV of $88,400. The popularity of these products can be attributed to factors such as their unique scents, attractive packaging, and effective marketing on TikTok. For example, many of these products were promoted through engaging video content by influencers, which caught the attention of users and led to increased sales.
Brand Case Analysis of the Specific Category
Among the top-performing brands and stores in the perfume market on TikTok US during week 02, American Seair Imports stood out with a GMV of $464,300 and a 21.04% quarter-on-quarter growth. They sold 24,400 units, with an average price of $18.99. Their success can be attributed to their wide range of perfume offerings and effective marketing strategies on TikTok. Another notable brand was Oudware, with a GMV of $305,100 and a 16.35% quarter-on-quarter growth. They sold 7,714 units, with an average price of $39.56. Oudware's focus on high-quality and unique fragrances, along with their engaging TikTok content, helped them gain popularity and drive sales.
Conclusion
Overall, the perfume market on TikTok in the US during week 02 showed promising trends. The growth in GMV and sold count indicates a healthy market. For cross-border merchants, it is advisable to focus on product uniqueness, engage with influencers for effective marketing, and keep up with the changing consumer preferences. Looking ahead, the market is expected to continue growing, with more opportunities for brands to showcase their perfumes and connect with consumers on TikTok.
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