TikTok supports 2.8 million SMEs during upcoming Tet 2024

January 16, 2024 | 17:02

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The 'TETastic with TikTok' initiative aims to offer a complete picture of current trends and movements in the consumer market and suggest creative advertising strategies and solutions to help businesses seize commercial opportunities during the upcoming Lunar New Year period.

ETastic with TikTok - Thrive in sales is a launch phase including activities to support small- and medium-sized enterprises (SMEs) during Lunar New Year and throughout the year implemented by TikTok.

The Tet 2024 kick-off programme, taking place on January 13 in Hanoi, brought numerous conversations, sharing sessions and practical discussions, sketching consumer trends during the upcoming Tet 2024, enhancing creativity and discovering effective solutions to boost SME revenue.

More than 2.8 million Vietnamese micro, small and medium enterprises on the platform, TikTok strengthens business support activities for Lunar New Year 2024

With the rise of 'shoppertainment', the blending of e-commerce and entertainment to help engage customers and promote sales, short videos are having a significant impact on consumer purchases, trust, and behaviour.

According to a report by TikTok on the shopping behaviour of users in Vietnam during the 2023 holiday season, 69 per cent of users chose to watch short videos to learn about products and services, with 84 per cent of them making deals.

Another analysis of TikTok in the period September-December 2022 showed that, compared to sellers on TikTok Shop who do not use advertising on TikTok, sales community that set up TikTok shopping ads achieved an average gross merchandise value 112 per cent higher.

To help businesses maximise opportunities and keep pace with the advertising trend at the beginning of the year, TikTok introduced a system of diverse advertising solutions during the event, notably the intersection of content and commerce to increase the effectiveness of communication campaigns on revenue.

Diversity in content creation will help SMEs take advantage of the full potential of the Shoppertainment trend. Users are comfortable viewing advertising content, easily converting viewers into potential customers.

Sellers are also supported in building advertising funnels suitable for each marketing purpose with three levels from Awareness, and Consideration to Action to achieve the goals of expanding reach, driving interest and engagement, and triggering purchases.

TikTok believes that this will be an opportunity for businesses to sharply increase visits and orders during this 2024 Tet shopping season.

Jason Song, marketing head of TikTok Shop for the SME segment in the Asian-Pacific region said, “TETastic with TikTok will be our first effort in 2024 to continue supporting Vietnamese SMEs to improve their ability of digitalisation via training, consulting programmes and marketing tools on TikTok. We hope TikTok can become a driving force for Vietnamese SMEs to develop sustainably and contribute even more strongly to the national economy.”

By the end of November last year, there were more than 2.8 million Vietnamese (micro, small, and medium-sized enterprises (MSMEs) operating on the TikTok platform.

Businesses participate in content creation, advertising, sales, bringing attractive entertainment and commercial content and a diverse selection of quality and reputable products to consumers.

The five most-wanted sectors on TikTok Shop include fashion, home and life, health and personal care, electronics, and beauty.

Accompanying the development of SMEs, TikTok has been offering various training programmes, equipping them with knowledge, operating skills, content-creating programmes, marketing tools and support solutions.

In 2023, over 140 free-of-charge training sessions and seminars were rolled out on the platform to help raise participants’ selling competitiveness, position their brands, and optimise the use of the platform for 50,000 MSMEs.