Consumers in Malaysia were the 6th biggest spenders on TikTok Shop last year, as the e-commerce platform recorded an impressive gross merchandise value (GMV) of USD2.724 billion or ~RM12.07 billion in the country. Moreover, it’s a significant increase from 2023 - a 104% year-on-year increase, to be exact - when TikTok Shop recorded a USD1.3 billion or ~RM5.77 billion in Malaysia.
This is according to data from Tabcut.com, a professional tool for TikTok Shop analytics, as shared by The Low Down. The report further revealed that the average item transaction price in Malaysia was RM20.60 in 2024.
Globally, TikTok Shop’s overall GMV reached a whopping USD32.6 billion or ~RM144.76 billion, with beauty and personal care being the largest category. Here are the top 8 countries with the highest TikTok Shop GMV last year:
- United States – USD9 billion
- Indonesia – USD6.198 billion
- Thailand – USD5.743 billion
- Vietnam – USD4.454 billion
- Philippines – USD3.12 billion
- Malaysia – USD1.3 billion
- United Kingdom – USD1.548 billion
- Singapore – USD391 million
So, what do you guys think of the statistics? Comment down below and stay tuned to TechNave for more trending tech news.
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