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Ecommerce performance this Q3
  • By SellerBites
  • September 30, 2024
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Ecommerce performance this Q3

And just like that, we’re at the end of Q3 already. Time flies when there’s so much happening around you — from the recently concluded Amazon Accelerate event, to the upcoming BFCM holiday sales.

But before focusing on Q4, let’s take this time to see how Q3 went.

POST OF THE WEEK

HOT TOPIC

Before we formally welcome Q4, let’s look back at the past quarter’s trends and news. Econsultancy reports:

  • Consumer spending is driven by confidence – especially for non-essential goods. Consumers in the US developed a more positive view in spending this August, a first in the past five months. Take this as a good sign for the upcoming quarter!
  • AI use in ecommerce is starting to ramp up. Walmart is the first major retailer to announce its earnings and gains from GenAI adoptions. Other major ecommerce such as Target and Alibaba both have plans to roll out features leveraging AI. It’s pretty obvious that AI use is becoming more evident and it’s here to stay.
  • New U.S. legislation on Chinese shipments is in the works.
  • Uber’s making headway with end-to-end logistics by integrating on-demand delivery with its freight service. Amazon is also making progress with low-impact last-mile delivery as it experiments with tram deliveries in Germany.

✍️ What Q3 ecommerce events stood out to you? Let us know so we can feature them.

BITES OF THE WEEK

SELLER COMMUNITY

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ECOMMERCE NEWS

TikTok Shop turns one year in the US

Happy 1st anniversary to TikTok Shop in the US!⚡

According to Marketplace Pulse, here’s how it actually performed:

  • Sales performance. Despite big hopes of reaching $17.5 billion in sales, TikTok Shop is trending at around $4.5 billion. Not bad, but far from the goal.
  • Top performers. Smaller brands that found a niche strategy or went viral early—like GuruNanda—are reaping the rewards. Goli Nutrition, known for its vitamins, tops the charts with creative affiliate strategies, pulling in over $4 million in just a month.
  • Top categories: Health, beauty, and wellness products are currently the top-selling categories
  • Affiliate power. Most sales come from influencers and affiliates, not direct brand campaigns. TikTok Shop’s system tracks sales from affiliates without the need for special links or codes.
  • Unique selling style. TikTok Shop isn’t your typical marketplace like Amazon or eBay. It’s all about content and influencers driving purchases, with live-stream shopping just beginning to catch on.
  • Challenges for growth. US customers are still warming up to social commerce, and many brands are still figuring out how to tap into TikTok’s unique funnel.

TikTok Shop’s first year has been a mix of success and challenges. But it’s definitely a platform worth watching, especially as more brands begin to understand how to use TikTok’s powerful content-driven ecosystem. 👀

Author : SellerBites
Faith began working on SellerBites in 2021, a weekly newsletter that provides sellers with the latest news and updates in FBA. With first-hand experience in managing various seller and vendor accounts, she understands what sellers face on this platform. Her background led to the conception of SellerBites, which main goal is to help people become better, more informed entrepreneurs in the Amazon marketplace.
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