Stay ahead of TikTok market trends by industry

TikTok Shop Rises to Second Place, Surpassing All but Shopee, with Revenue of 16.3 Trillion VND and 117 Million Products Sold in Q2/2023. Not only has TikTok Shop achieved significant revenue growth, but the rise of the platform has also turned TikTok content creation into one of the hottest careers today. Many TikTokers now earn hundreds of millions to billions of VND per month. For example, TikToker Phạm Thoại once revealed that he earns an average of 1.2 billion VND per month. Over the past two years, TikTok has increasingly dominated our daily lives. That’s why staying ahead of the curve and anticipating upcoming TikTok trends is crucial.

In this article, we will analyze the TikTok market and highlight key trends you shouldn’t miss in 2024.

Overview of the TikTok Market in 2024

2023 marked an incredible growth for TikTok and TikTok Shop. According to We Are Social and Meltwater’s Digital 2023 report, TikTok had 49.86 million users aged 18+ in Vietnam at the beginning of 2023. Additionally, TikTok ads reached 68.9% of adults aged 18 and older.

According to Metric, in Q1/2023, TikTok Shop’s revenue was only 3.5% behind Lazada. However, by Q2/2023, TikTok Shop surged ahead, securing second place behind Shopee, with 16.3 trillion VND in revenue and 117 million products sold.

Global Trends

Although TikTok is not the most widely used app, it holds the record for the highest average daily usage time. Specifically, users spend an average of 54 minutes per day on TikTok. In comparison, TikTok usage time is nearly twice that of Facebook (31 minutes/day) and more than twice that of Twitter (34 minutes/day).

Thanks to its short-form and continuous video content, TikTok has been remarkably successful in keeping users engaged on the platform. From a marketing perspective, this is a significant advantage, as the longer users stay active, the more frequently they are exposed to advertisements.

In Vietnam, two-thirds of users’ mobile screen time is spent on just five apps: Facebook, Zalo, TikTok, Messenger, and YouTube. Among them, TikTok ranks fifth in the list of the most popular apps among Vietnamese users.

TikTok Trends in 2024

With the impressive achievements of 2023, TikTok is set to bring even more new trends for businesses in 2024. Let’s explore what these trends are!

See more products: Buy advertising accounts

Shoppertainment: The Future of E-commerce

As major shopping events such as Shopee’s and Lazada’s mega sales continue to dominate Vietnam’s e-commerce landscape, TikTok has successfully predicted that Shoppertainment will be one of the biggest trends in 2024.

Since the launch of TikTok Shop in Vietnam in April 2022, the platform has revolutionized online shopping. 67% of users say TikTok inspires them to purchase a product or service even when they were not actively searching for it. Meanwhile, 54% of users prefer shopping on TikTok over other platforms.

Unlike social media platforms such as Facebook and Instagram or e-commerce giants like Shopee, Lazada, and Tiki, TikTok Shop simplifies the shopping process by providing videos with detailed product information, key features, images, reviews, and usage guides—all within the app.

By driving the Shoppertainment trend, TikTok has strengthened its position as a powerful platform for both entertainment and commerce, optimizing the shopping experience and boosting conversion rates like never before.

SEO Becomes More Effective Than Hashtags

According to Prabhakar Raghavan, Google’s Senior Vice President, nearly 40% of young people now prefer using TikTok or Instagram for searching information instead of Google. As a result, TikTok SEO has become a crucial tool for ranking videos and brands at the top of search results.

A study by HootSuite revealed that social media posts optimized for SEO experience 30% higher engagement rates. This means SEO on TikTok will be a key focus for brands in 2024. To create SEO-friendly videos that appear at the top of search results, content creators must conduct keyword research to identify trending and relevant keywords for their videos.

The Rise of #GamingTok

With over 3 trillion views on gaming content in 2022, TikTok has become a major hub for gaming communities. Gamers on TikTok now have a space to share new stories, explore new games, and connect with other players.

TikTok’s “What’s Next: Gaming” report (2023) highlights that the Gaming feature benefits both users and game developers. This feature allows users to showcase their gaming skills, share their passion, and interact with other gamers. At the same time, game developers can create engaging content and targeted ads for gaming audiences on TikTok.

Top 17 TikTok Content Trends for 2024

Here are 17 key TikTok trends brands, influencers, and users should know in 2024:

For Brands & Sellers

1. TikTok is becoming an essential marketing platform.
2. Nonprofit organizations are using TikTok as a fundraising tool.
3. Brands are increasingly integrating branded content into TikTok videos.
4. Content is becoming more inclusive for older audiences.
5. Brands with dedicated TikTok channels and creative content strategies will see better engagement.

For Content Creators & Influencers

1. Influencers will be paid based on their follower count.
2. Celebrities will engage more actively on TikTok.
3. TikTok will be a key career-boosting tool for famous personalities.
4. The platform will be widely used for personal branding.
5. TikTok will prioritize high-quality, highly interactive videos in its algorithm.

For the Platform & Users

1. Monthly active users will grow by 20%.
2. The largest demographic group will be users aged 18–34.
3. More videos will exceed 15 seconds in length.
4. Emotional storytelling will dominate TikTok content.
5. Review videos and live-streamed shopping content will significantly influence consumer purchase decisions.
6. TikTok Shop will remain a top trending content category.
7. The popularity of hashtags and trending sounds will continue to rise.

See more products: Buy advertising accounts

3 Business Sectors That Will Trend on TikTok in 2024

TikTok has become a powerful tool for shaping brand image and increasing brand awareness. Advertisers on TikTok are now focusing on industries like fashion and beauty, as well as high-value retail sectors such as real estate and automobiles.

So, what industries are currently trending on TikTok? Let’s take a look!

Sustainable & Eco-Friendly Products

With growing awareness of environmental protection, consumers are increasingly demanding sustainable and eco-friendly products.

There are two key reasons why this trend will dominate TikTok in 2024:

1. Entertainment-driven content is key

   • According to TikTok’s “What’s Next 2023” report, engaging and meaningful content is prioritized over direct sales and advertising. Instead of hard-selling, TikTok favors authentic, relatable, and socially impactful content.

2. Users are more conscious of environmental impact

   • TikTok users are more aware of pollution, resource waste, and the origins of products they buy. They seek high-quality, sustainable products that have a positive impact on society.

Brands should offer sustainable alternatives, promote eco-conscious lifestyles, and share practical tips on reducing waste and protecting the environment to align with this trend.

Mental Health & Well-Being

According to the TikTok What’s Next 2023 trend report, 92% of users feel positive after watching TikTok videos with practical content, and 41% of users state that a good mood is an important factor that significantly influences their purchasing decisions. Therefore, taking care of users’ mental well-being is extremely important.

In 2023, hashtags such as #Advice (46.4 billion views), #GrowthMindset (4 billion views), #EduTok (170.9 billion views), and #Comewithme (2.5 billion views) experienced rapid growth. As a result, in 2024, content focused on sharing tips, personal psychological stories, discussions on mindfulness, stress management, self-reflection exercises, and overall mental health improvement techniques will be key trends on TikTok.

Fashion and Beauty

In a Statista survey conducted in January 2023, approximately 54% of global TikTok users were identified as female. Naturally, fashion and beauty content will remain an unmissable trend in 2024. Furthermore, with the rise of TikTok Shop, fashion and beauty brands will have greater opportunities to drive sales, reach a broader customer base, and expand their brand presence.

In 2023, the Vietnamese e-commerce market saw fierce competition between the giant Shopee and the rising powerhouse TikTok Shop. According to Metric, by Q2/2023, Shopee held 63% of the market, while TikTok Shop secured the second position in Vietnam’s e-commerce rankings, achieving ₫16.3 trillion in revenue and 117 million products sold, trailing only Shopee.

See more products: Buy advertising accounts

Conclusion

The above provides an overview of the TikTok market trends and key content trends for 2024. Hopefully, this information will be helpful to you as you begin your business journey on this platform.

If you need the most reputable payment method and advertising account provider, you can message the fanpage buybm365.com-Ads to receive advice from HT Media. In addition, you can follow the articles. Latest articles related to our Digital Marketing.