WEBVTT 1 00:00:00.930 --> 00:00:02.010 Hello, everyone. 2 00:00:02.010 --> 00:00:03.120 I'm Aparna. 3 00:00:03.120 --> 00:00:04.890 I am a Managing Director and Partner 4 00:00:04.890 --> 00:00:07.590 with Boston Consulting Group based in Singapore. 5 00:00:07.590 --> 00:00:10.770 I lead BCG's Center for Customer Insight, 6 00:00:10.770 --> 00:00:12.270 which is a center of excellence 7 00:00:12.270 --> 00:00:13.650 that looks out for everything 8 00:00:13.650 --> 00:00:15.870 related to customer and consumer insights 9 00:00:15.870 --> 00:00:17.280 around the world. 10 00:00:17.280 --> 00:00:20.040 With me, I'm delighted to welcome today, Chew Wee, 11 00:00:20.040 --> 00:00:22.680 who heads business marketing for TikTok 12 00:00:22.680 --> 00:00:24.480 across Asia-Pacific. 13 00:00:24.480 --> 00:00:26.130 Chew Wee, it's such a delight to host you 14 00:00:26.130 --> 00:00:27.600 here in our office today. 15 00:00:27.600 --> 00:00:29.760 Thank you, Aparna, happy to be here with BCG 16 00:00:29.760 --> 00:00:32.070 to discuss commerce trends in Asia-Pacific. 17 00:00:32.070 --> 00:00:33.900 Our pleasure Chew Wee. 18 00:00:33.900 --> 00:00:37.500 So today we are going to talk about the digital consumer. 19 00:00:37.500 --> 00:00:39.510 In particular, the digital shopper. 20 00:00:39.510 --> 00:00:42.540 And we will examine, in a lot of detail, 21 00:00:42.540 --> 00:00:46.680 one specific trend that offers a massive opportunity 22 00:00:46.680 --> 00:00:49.050 for marketeers across Asia. 23 00:00:49.050 --> 00:00:51.120 We call it shoppertainment. 24 00:00:51.120 --> 00:00:54.030 It's really a blend of storytelling, 25 00:00:54.030 --> 00:00:57.030 education, as well as commerce. 26 00:00:57.030 --> 00:00:59.910 And the idea is that it's a video first, 27 00:00:59.910 --> 00:01:02.940 often volume-on, highly engaged format 28 00:01:02.940 --> 00:01:05.070 that places entertainment first 29 00:01:05.070 --> 00:01:07.920 and commerce or shopping later. 30 00:01:07.920 --> 00:01:10.110 BCG partnered up with TikTok 31 00:01:10.110 --> 00:01:13.080 to create a pretty extensive piece of research 32 00:01:13.080 --> 00:01:15.330 across Asia-Pacific to understand 33 00:01:15.330 --> 00:01:17.460 and unpack shoppertainment. 34 00:01:17.460 --> 00:01:20.100 We found that by 2025, 35 00:01:20.100 --> 00:01:24.030 Shoppertainment will become a trillion dollar opportunity 36 00:01:24.030 --> 00:01:25.860 across Asia-Pacific. 37 00:01:25.860 --> 00:01:28.500 That is a tremendous opportunity. 38 00:01:28.500 --> 00:01:31.590 And yet, marketeers are barely scratching the surface 39 00:01:31.590 --> 00:01:32.880 of what this means 40 00:01:32.880 --> 00:01:35.670 in terms of what they can do with consumers. 41 00:01:35.670 --> 00:01:36.660 So to do that, 42 00:01:36.660 --> 00:01:39.420 we really understood shoppertainment at the next level, 43 00:01:39.420 --> 00:01:41.670 and we went straight to the consumers. 44 00:01:41.670 --> 00:01:45.690 We used BCG's proprietary demand spaces methodology 45 00:01:45.690 --> 00:01:48.780 to really understand how people shop online. 46 00:01:48.780 --> 00:01:52.320 Demand spaces is a proprietary methodology 47 00:01:52.320 --> 00:01:54.450 that tries to understand consumers 48 00:01:54.450 --> 00:01:56.340 in the language of consumers. 49 00:01:56.340 --> 00:01:58.500 We don't assume any segments. 50 00:01:58.500 --> 00:02:01.830 We don't assume even an x-axis or a y-axis. 51 00:02:01.830 --> 00:02:05.190 We speak to the consumers in great detail about their needs 52 00:02:05.190 --> 00:02:06.960 in their last online purchase. 53 00:02:06.960 --> 00:02:09.450 And then we organized those needs 54 00:02:09.450 --> 00:02:11.610 through many, many regression analyses 55 00:02:11.610 --> 00:02:15.630 into natural clusters that emerge from the consumer data. 56 00:02:15.630 --> 00:02:18.047 We then named those clusters, we called them demand spaces, and studied them. 57 00:02:20.010 --> 00:02:22.560 When we did this in the area of online shopping, 58 00:02:22.560 --> 00:02:25.110 we found six demand spaces. 59 00:02:25.110 --> 00:02:28.230 Three of these are what we call, "functional demand spaces." 60 00:02:28.230 --> 00:02:30.630 These are, I'd say, more routine, 61 00:02:30.630 --> 00:02:34.740 more convenience-based, and more habitual purchases. 62 00:02:34.740 --> 00:02:36.450 For example, convenience shopping, 63 00:02:36.450 --> 00:02:39.150 which could be your weekly grocery shopping. 64 00:02:39.150 --> 00:02:43.200 Or validation, where, I know what I want to buy, 65 00:02:43.200 --> 00:02:45.300 but I'm trying to validate it a bit. 66 00:02:45.300 --> 00:02:48.600 On the other hand, we also have emotional demand spaces. 67 00:02:48.600 --> 00:02:51.150 These are really, I'd say, moments of truth, 68 00:02:51.150 --> 00:02:53.070 where you are really interacting 69 00:02:53.070 --> 00:02:55.380 with the shopping occasion at the next level. 70 00:02:55.380 --> 00:02:58.230 Here, for example, you're looking to be inspired. 71 00:02:58.230 --> 00:02:59.730 You're seeking an adventure. 72 00:02:59.730 --> 00:03:01.410 You're really experimenting. 73 00:03:01.410 --> 00:03:03.210 Or, you're simply looking to indulge, 74 00:03:03.210 --> 00:03:05.940 treat yourself, buy something fun. 75 00:03:05.940 --> 00:03:08.250 So when we organize these demand spaces, 76 00:03:08.250 --> 00:03:11.670 we understood that shoppertainment is uniquely effective 77 00:03:11.670 --> 00:03:14.400 in going after emotional demand spaces. 78 00:03:14.400 --> 00:03:16.380 Now, we don't mean to say that any demand space 79 00:03:16.380 --> 00:03:17.850 is superior to another, 80 00:03:17.850 --> 00:03:20.400 but we find that the shoppertainment methodology, 81 00:03:20.400 --> 00:03:22.290 the entertainment first methodology, 82 00:03:22.290 --> 00:03:24.660 really sparks that moment of truth with the consumer, 83 00:03:24.660 --> 00:03:26.430 and triggers something new. 84 00:03:26.430 --> 00:03:29.130 Whether it's a new brand, a new purchase occasion, 85 00:03:29.130 --> 00:03:32.670 or a new way of interacting with the customer journey. 86 00:03:32.670 --> 00:03:34.020 So, with that, 87 00:03:34.020 --> 00:03:37.500 let's dive deeper into shoppertainment with Chew Wee. 88 00:03:37.500 --> 00:03:39.660 So Chew Wee, as we learned, 89 00:03:39.660 --> 00:03:41.100 shoppertainment is poised to grow 90 00:03:41.100 --> 00:03:44.610 to over a trillion dollars in Asia by 2025. 91 00:03:44.610 --> 00:03:47.160 And we know that TikTok is such a pioneer 92 00:03:47.160 --> 00:03:49.140 and an innovator in this space. 93 00:03:49.140 --> 00:03:52.170 So can you tell us what trends have you seen at TikTok 94 00:03:52.170 --> 00:03:53.340 regarding shoppertainment? 95 00:03:53.340 --> 00:03:56.850 So shoppertainment is a kind of content-driven commerce 96 00:03:56.850 --> 00:03:59.490 that seeks to entertainment and educate first. 97 00:03:59.490 --> 00:04:01.140 TikTok did not invent this concept, 98 00:04:01.140 --> 00:04:02.640 we did not coin this term, 99 00:04:02.640 --> 00:04:06.480 but we have embraced it and further innovated on it. 100 00:04:06.480 --> 00:04:07.680 So at TikTok platform, 101 00:04:07.680 --> 00:04:11.310 we see content, culture, and commerce coming together 102 00:04:11.310 --> 00:04:14.520 to create highly immersive shopping experiences. 103 00:04:14.520 --> 00:04:15.900 Let me share with you three trends 104 00:04:15.900 --> 00:04:17.880 that we have observed at TikTok. 105 00:04:17.880 --> 00:04:20.040 One. Age of content. 106 00:04:20.040 --> 00:04:22.740 We have entered the age of content. 107 00:04:22.740 --> 00:04:24.870 So we have seen how audiences evolved 108 00:04:24.870 --> 00:04:26.580 from the age of knowledge, 109 00:04:26.580 --> 00:04:28.320 where they were seeking out information, 110 00:04:28.320 --> 00:04:31.920 searching for information, to the age of social. 111 00:04:31.920 --> 00:04:33.870 Where a lot of the content you consume 112 00:04:33.870 --> 00:04:36.450 depends on what your friends are consuming. 113 00:04:36.450 --> 00:04:38.670 So you consume what your friends consume. 114 00:04:38.670 --> 00:04:40.470 And people are sharing multiple aspects 115 00:04:40.470 --> 00:04:42.270 of their life all on social. 116 00:04:42.270 --> 00:04:45.240 And then that has evolved to now, the age of content, 117 00:04:45.240 --> 00:04:46.470 where we are seeing this audience 118 00:04:46.470 --> 00:04:49.230 that is video first, content first, 119 00:04:49.230 --> 00:04:51.780 and we see a generation of digital natives 120 00:04:51.780 --> 00:04:53.670 that aren't actively searching for content, 121 00:04:53.670 --> 00:04:56.670 or relying on their friends for what they consume. 122 00:04:56.670 --> 00:04:59.610 And TikTok has embraced this and built up a platform 123 00:04:59.610 --> 00:05:01.980 based on what we call a content graph. 124 00:05:01.980 --> 00:05:03.450 So what you consume is based 125 00:05:03.450 --> 00:05:04.950 on the kind of content that you like, 126 00:05:04.950 --> 00:05:06.237 and you can discover new content, 127 00:05:06.237 --> 00:05:09.000 and you have a platform to engage with a community 128 00:05:09.000 --> 00:05:11.490 that is not limited by your social connections. 129 00:05:11.490 --> 00:05:12.693 Very interesting. 130 00:05:13.800 --> 00:05:15.210 A second trend that we have observed 131 00:05:15.210 --> 00:05:17.760 is the democratization of creativity. 132 00:05:17.760 --> 00:05:20.640 The democratization of content creation. 133 00:05:20.640 --> 00:05:22.980 So we see that creativity, content creation, 134 00:05:22.980 --> 00:05:24.720 is no longer the exclusive domain 135 00:05:24.720 --> 00:05:26.670 of the expert or the professional. 136 00:05:26.670 --> 00:05:29.340 You don't need a big budget, a fancy studio, 137 00:05:29.340 --> 00:05:32.760 or highly trained talent to be able to create good content. 138 00:05:32.760 --> 00:05:35.010 Anyone with an idea, with a smartphone, 139 00:05:35.010 --> 00:05:37.050 can generate good content. 140 00:05:37.050 --> 00:05:38.877 And technology has enabled TikTok 141 00:05:38.877 --> 00:05:40.260 and many other platforms 142 00:05:40.260 --> 00:05:42.480 to build tools, templates, 143 00:05:42.480 --> 00:05:44.523 that can empower people to build that. 144 00:05:44.523 --> 00:05:49.410 At TikTok, we truly believe that anyone can be a creator. 145 00:05:49.410 --> 00:05:51.090 Finally, I want to talk about the last trend 146 00:05:51.090 --> 00:05:51.923 that we have observed, 147 00:05:51.923 --> 00:05:54.810 which is the creativity network effect. 148 00:05:54.810 --> 00:05:57.450 I think probably you and the audiences 149 00:05:57.450 --> 00:05:59.610 are probably familiar with the traditional concept 150 00:05:59.610 --> 00:06:01.200 of the network effect. 151 00:06:01.200 --> 00:06:03.180 Where every user on the platform 152 00:06:03.180 --> 00:06:05.343 creates more value for the next user. 153 00:06:06.330 --> 00:06:07.680 So what we are seeing is that 154 00:06:07.680 --> 00:06:11.250 creativity, too, is rarely an isolated process. 155 00:06:11.250 --> 00:06:14.430 And either can rarely be attributed to a single person. 156 00:06:14.430 --> 00:06:16.110 So, as we saw on TikTok, 157 00:06:16.110 --> 00:06:18.660 that you have a creativity network effect 158 00:06:18.660 --> 00:06:22.560 where every additional user make other users more creative. 159 00:06:22.560 --> 00:06:25.230 Because you can build on somebody's original content, 160 00:06:25.230 --> 00:06:27.750 and we built features like the duet feature, 161 00:06:27.750 --> 00:06:28.830 the stitch feature, 162 00:06:28.830 --> 00:06:30.870 where somebody can create new content 163 00:06:30.870 --> 00:06:33.270 alongside the original creator. 164 00:06:33.270 --> 00:06:36.570 And that is how TikTok has embraced the age of content. 165 00:06:36.570 --> 00:06:37.403 I like it. 166 00:06:37.403 --> 00:06:40.200 I like the age of content, away from the age of social, 167 00:06:40.200 --> 00:06:41.700 that's fascinating. 168 00:06:41.700 --> 00:06:43.770 So Chew Wee, I'll refer back to something you said 169 00:06:43.770 --> 00:06:45.510 that was very interesting at the start. 170 00:06:45.510 --> 00:06:46.770 You said that even though TikTok 171 00:06:46.770 --> 00:06:48.480 didn't coin the term, "shoppertainment", 172 00:06:48.480 --> 00:06:51.360 you've embraced it and innovated in that space. 173 00:06:51.360 --> 00:06:53.730 Can you tell us how TikTok is preparing 174 00:06:53.730 --> 00:06:55.680 to be a leader in this area? 175 00:06:55.680 --> 00:06:56.670 Sure. 176 00:06:56.670 --> 00:06:59.790 TikTok is a content platform, an entertainment platform, 177 00:06:59.790 --> 00:07:02.400 and shoppertainment is very much in our DNA. 178 00:07:02.400 --> 00:07:04.230 We have built and continued to invest 179 00:07:04.230 --> 00:07:06.720 in a suite of shopping solutions that brands, 180 00:07:06.720 --> 00:07:09.480 businesses, and creators can leverage. 181 00:07:09.480 --> 00:07:11.790 One, it's an area of content. 182 00:07:11.790 --> 00:07:13.860 So we have built content tools and templates, 183 00:07:13.860 --> 00:07:17.760 like video editing tools, effects, stickers, 184 00:07:17.760 --> 00:07:19.380 that businesses and creators 185 00:07:19.380 --> 00:07:22.020 can easily use to create content. 186 00:07:22.020 --> 00:07:24.180 Two, is in the area of advertising. 187 00:07:24.180 --> 00:07:25.950 So we build advertising solutions 188 00:07:25.950 --> 00:07:29.340 that allow brands to be able to engage with customers 189 00:07:29.340 --> 00:07:31.020 based on their demographics, 190 00:07:31.020 --> 00:07:33.840 their interests, their behaviors. 191 00:07:33.840 --> 00:07:36.060 And we also have advertising formats 192 00:07:36.060 --> 00:07:38.640 that allow brands to invite a community, 193 00:07:38.640 --> 00:07:40.440 to invite the customers to participate 194 00:07:40.440 --> 00:07:42.540 in the brand experience with them. 195 00:07:42.540 --> 00:07:44.700 One example is branded mission, 196 00:07:44.700 --> 00:07:47.280 where brands can source content from the community 197 00:07:47.280 --> 00:07:49.830 by issuing a challenge or a mission 198 00:07:49.830 --> 00:07:51.930 for their customers to embark on. 199 00:07:51.930 --> 00:07:53.610 Another example will be in the area 200 00:07:53.610 --> 00:07:55.260 like interactive features. 201 00:07:55.260 --> 00:07:56.640 Like interactive add-ons, 202 00:07:56.640 --> 00:07:58.680 which uses augmented reality 203 00:07:58.680 --> 00:08:00.930 that allow brands to allow their customers 204 00:08:00.930 --> 00:08:02.190 to try on their products 205 00:08:02.190 --> 00:08:04.650 without ever having to step into the store. 206 00:08:04.650 --> 00:08:07.500 And thirdly, a third area that we are investing in 207 00:08:07.500 --> 00:08:10.680 is in the area of e-commerce market-based solutions 208 00:08:10.680 --> 00:08:13.800 where customers can directly complete the transaction 209 00:08:13.800 --> 00:08:15.300 on the TikTok platform. 210 00:08:15.300 --> 00:08:18.270 So this is a service, a new service, called TikTok Shop, 211 00:08:18.270 --> 00:08:22.080 and it is now available in five countries in Asia-Pacific. 212 00:08:22.080 --> 00:08:23.850 All right, so you can see that we are continuing 213 00:08:23.850 --> 00:08:26.970 to invest in content, commerce, and creative formats 214 00:08:26.970 --> 00:08:30.090 to enable this and to embrace shoppertainment. 215 00:08:30.090 --> 00:08:32.700 So what I have shared is what TikTok has done. 216 00:08:32.700 --> 00:08:33.780 But the community, 217 00:08:33.780 --> 00:08:36.600 the community continues to delight and surprise us 218 00:08:36.600 --> 00:08:38.610 in many ways with their creativity 219 00:08:38.610 --> 00:08:41.010 and their community collaboration. 220 00:08:41.010 --> 00:08:43.590 We have also seen trends that emerge organically 221 00:08:43.590 --> 00:08:45.240 on the TikTok platform. 222 00:08:45.240 --> 00:08:48.120 One of which is the #TikTokMadeMeBuyIt phenomenon. 223 00:08:48.120 --> 00:08:51.720 It has since gotten more than 12 billion views globally. 224 00:08:51.720 --> 00:08:52.553 Wow. 225 00:08:52.553 --> 00:08:54.990 So it is a trend where users, customers, 226 00:08:54.990 --> 00:08:57.570 proactively share their product experiences, 227 00:08:57.570 --> 00:08:59.700 their product reviews online, 228 00:08:59.700 --> 00:09:03.393 and that has generated significant uplift and offline sales. 229 00:09:04.230 --> 00:09:05.730 If I could share another trend, 230 00:09:05.730 --> 00:09:07.500 and this is one of my personal favorites, 231 00:09:07.500 --> 00:09:09.270 and that is BookTok. 232 00:09:09.270 --> 00:09:10.440 Have you heard of BookTok? 233 00:09:10.440 --> 00:09:11.910 No, sounds interesting. 234 00:09:11.910 --> 00:09:13.773 All right, so BookTok is a phenomenon 235 00:09:13.773 --> 00:09:16.140 that has caused a resurgence in reading. 236 00:09:16.140 --> 00:09:17.043 And publishers around the world 237 00:09:17.043 --> 00:09:19.410 have actually attributed BookTok 238 00:09:19.410 --> 00:09:21.900 to causing an uplift in book sales. 239 00:09:21.900 --> 00:09:23.520 Like here in Singapore, for instance, 240 00:09:23.520 --> 00:09:25.860 some bookstores, like Times Bookstores, for instance, 241 00:09:25.860 --> 00:09:27.840 have a section dedicated to BookTok 242 00:09:27.840 --> 00:09:29.970 where they show BookTok recommendations. 243 00:09:29.970 --> 00:09:32.820 Well, as a bookworm, I have to say, I love that one. 244 00:09:32.820 --> 00:09:33.653 Check that out. 245 00:09:33.653 --> 00:09:35.760 And what we always see at TikTok is, 246 00:09:35.760 --> 00:09:38.730 what happens on TikTok, doesn't stay on TikTok. 247 00:09:38.730 --> 00:09:41.310 And that is how we have invested in shoppertainment, 248 00:09:41.310 --> 00:09:43.950 and that has generated behaviors offline. 249 00:09:43.950 --> 00:09:45.810 Amazing. It's like a network effect, right? 250 00:09:45.810 --> 00:09:48.330 A snowball or a positive flywheel, if you will. 251 00:09:48.330 --> 00:09:49.170 Amazing. 252 00:09:49.170 --> 00:09:52.320 So at TikTok, you work with some of the early adopters 253 00:09:52.320 --> 00:09:55.170 of shoppertainment as some of the real pioneers. 254 00:09:55.170 --> 00:09:57.930 Can you share with us some best practices that you've seen 255 00:09:57.930 --> 00:10:01.620 on marketeers who've got it right, so to speak? 256 00:10:01.620 --> 00:10:03.300 Amongst the early adopters, 257 00:10:03.300 --> 00:10:06.270 we have seen businesses from different industries, 258 00:10:06.270 --> 00:10:09.630 from e-commerce marketplaces, to CPG brands, 259 00:10:09.630 --> 00:10:11.340 to consumer electronics. 260 00:10:11.340 --> 00:10:14.250 And we have small businesses and large global brands 261 00:10:14.250 --> 00:10:18.090 experimenting on TikTok and embracing this story-led, 262 00:10:18.090 --> 00:10:20.130 entertainment-led strategy. 263 00:10:20.130 --> 00:10:22.230 If I could share with you some examples of brands 264 00:10:22.230 --> 00:10:23.970 that has done it really well. 265 00:10:23.970 --> 00:10:26.070 One such example is Amazon. 266 00:10:26.070 --> 00:10:28.410 In fact, they recently ran a campaign 267 00:10:28.410 --> 00:10:31.950 to drive up sales and awareness for the Prime Day sales. 268 00:10:31.950 --> 00:10:35.640 So Prime Day happens between July 12 to 13, 269 00:10:35.640 --> 00:10:37.860 where there was the moment where they give the biggest deal 270 00:10:37.860 --> 00:10:39.450 to their Prime members. 271 00:10:39.450 --> 00:10:40.770 So what Amazon did was, 272 00:10:40.770 --> 00:10:44.070 they work with creators like Adrian Bliss on TikTok 273 00:10:44.070 --> 00:10:47.490 that put their own satirical comedic spin 274 00:10:47.490 --> 00:10:49.020 to the whole checkout process. 275 00:10:49.020 --> 00:10:52.020 You need to see it to be able to understand what I'm saying. 276 00:10:52.020 --> 00:10:54.120 So they also embrace trends on TikTok. 277 00:10:54.120 --> 00:10:58.110 Like, there's this trend, this face feature sticker. 278 00:10:58.110 --> 00:10:58.980 Not sure if you've seen it, 279 00:10:58.980 --> 00:11:02.070 you have the talking eyes and mouth on the product. 280 00:11:02.070 --> 00:11:03.450 I see. So they embrace it, 281 00:11:03.450 --> 00:11:04.950 and they created advertisements 282 00:11:04.950 --> 00:11:07.740 that you wouldn't have thought was an advertisement 283 00:11:07.740 --> 00:11:10.500 to drive up sales for Prime Day. 284 00:11:10.500 --> 00:11:12.780 So that's an example from Amazon. 285 00:11:12.780 --> 00:11:14.220 Another example that we are seeing, 286 00:11:14.220 --> 00:11:16.530 and this is a CPG brand from Japan 287 00:11:16.530 --> 00:11:19.980 from the Kao Corporation, this is a Kate brand Japan, 288 00:11:19.980 --> 00:11:21.630 that is a makeup brand. 289 00:11:21.630 --> 00:11:24.570 So what they have did is, they use the interactive features, 290 00:11:24.570 --> 00:11:27.210 the interactive add-ons that TikTok provides, 291 00:11:27.210 --> 00:11:29.940 that allows their customers to try on their products, 292 00:11:29.940 --> 00:11:31.080 like lipsticks. 293 00:11:31.080 --> 00:11:34.560 So you can try on the different kit, lipstick colors, 294 00:11:34.560 --> 00:11:36.120 without ever having to step out of your home, 295 00:11:36.120 --> 00:11:38.430 without ever having to step into the store. 296 00:11:38.430 --> 00:11:41.310 So this is an example from Japan. 297 00:11:41.310 --> 00:11:44.370 And lastly, let me share an example from Samsung. 298 00:11:44.370 --> 00:11:45.780 So this was what Samsung did 299 00:11:45.780 --> 00:11:48.270 when they were launching a new device, 300 00:11:48.270 --> 00:11:50.580 the Samsung Galazy Z Flip3. 301 00:11:50.580 --> 00:11:52.170 So it is a flip phone. Yes. 302 00:11:52.170 --> 00:11:53.550 So you flip open the phone. 303 00:11:53.550 --> 00:11:54.930 So what they did was 304 00:11:54.930 --> 00:11:57.540 leverage this interactive feature on TikTok 305 00:11:57.540 --> 00:12:00.210 where a viewer, where a TikTok user, 306 00:12:00.210 --> 00:12:03.450 can activate elements of it with the hand gesture, 307 00:12:03.450 --> 00:12:05.070 the hand gesture of flipping the phone. 308 00:12:05.070 --> 00:12:07.020 Interesting, yeah. So when you flip the phone, 309 00:12:07.020 --> 00:12:08.040 the app will respond 310 00:12:08.040 --> 00:12:09.660 and reveal more information about the phone. 311 00:12:09.660 --> 00:12:11.760 So that is what Samsung did, 312 00:12:11.760 --> 00:12:13.440 I think to engage with the community 313 00:12:13.440 --> 00:12:15.540 and get them to interact with the content. 314 00:12:15.540 --> 00:12:16.800 Fascinating examples. 315 00:12:16.800 --> 00:12:18.870 I mean, you've got new age companies, 316 00:12:18.870 --> 00:12:20.610 Asian brands, international brands, 317 00:12:20.610 --> 00:12:22.290 you've got a good mix in there. 318 00:12:22.290 --> 00:12:23.880 So it's fascinating to hear 319 00:12:23.880 --> 00:12:26.370 that so many marketeers are getting such value 320 00:12:26.370 --> 00:12:27.480 out of shoppertainment. 321 00:12:27.480 --> 00:12:30.510 Asian companies, global companies, so many examples. 322 00:12:30.510 --> 00:12:33.210 I'm intrigued why more marketeers wouldn't do so. 323 00:12:33.210 --> 00:12:35.610 So what would your advice be, as TikTok, 324 00:12:35.610 --> 00:12:38.190 for other marketeers on how to unlock 325 00:12:38.190 --> 00:12:40.910 the potential of shoppertainment? 326 00:12:40.910 --> 00:12:42.330 There is a attention economy 327 00:12:42.330 --> 00:12:43.680 where there are so many things 328 00:12:43.680 --> 00:12:45.540 fighting for people's attention. 329 00:12:45.540 --> 00:12:47.550 shoppertainment help brands stand out 330 00:12:47.550 --> 00:12:50.100 and content is a differentiator. 331 00:12:50.100 --> 00:12:51.660 Nobody wants to be sold to, 332 00:12:51.660 --> 00:12:54.540 but everyone is open to discovering new content. 333 00:12:54.540 --> 00:12:57.000 Nobody will say no to entertainment. 334 00:12:57.000 --> 00:12:58.860 And that is why we see that shoppertainment 335 00:12:58.860 --> 00:13:02.610 is already 20% of the total GMV in APAC. 336 00:13:02.610 --> 00:13:04.110 And it's continuing to grow. 337 00:13:04.110 --> 00:13:07.650 It's growing to 30% within the next three years. 338 00:13:07.650 --> 00:13:10.470 So what does this mean for marketing leaders? 339 00:13:10.470 --> 00:13:11.760 Traditionally in marketing, 340 00:13:11.760 --> 00:13:13.740 we always talk about the four P's. 341 00:13:13.740 --> 00:13:15.180 Now let's flip that around 342 00:13:15.180 --> 00:13:17.580 and talk about the four C's instead. 343 00:13:17.580 --> 00:13:18.930 What are the four C's? 344 00:13:18.930 --> 00:13:20.850 First C: Customer. 345 00:13:20.850 --> 00:13:23.820 Focus on your customer. Always start with the customer. 346 00:13:23.820 --> 00:13:26.010 And we are seeing that customer needs have evolved 347 00:13:26.010 --> 00:13:29.100 to not just being functional, but also to being emotional. 348 00:13:29.100 --> 00:13:31.830 And we see that opportunity lies in the latter. 349 00:13:31.830 --> 00:13:33.720 In the emotional. 350 00:13:33.720 --> 00:13:37.350 Customers are telling us, advise me, inform me, 351 00:13:37.350 --> 00:13:40.770 inspire me, educate me, entertain me. 352 00:13:40.770 --> 00:13:43.260 So brands need to think about how they can do all of that 353 00:13:43.260 --> 00:13:45.930 while selling their products and services. 354 00:13:45.930 --> 00:13:47.940 Second C: Content. 355 00:13:47.940 --> 00:13:49.500 I spoke a lot about content today, 356 00:13:49.500 --> 00:13:51.030 because we truly, at TikTok, 357 00:13:51.030 --> 00:13:53.190 believe that that is a differentiator for brands. 358 00:13:53.190 --> 00:13:56.220 So we encourage brands to develop story-led messaging 359 00:13:56.220 --> 00:13:58.380 that seeks to entertain and educate. 360 00:13:58.380 --> 00:14:01.770 Adopt an entertainment-first, storytelling approach, 361 00:14:01.770 --> 00:14:05.370 commerce-second, approach to truly connect with customers. 362 00:14:05.370 --> 00:14:07.230 Third: Campaign. 363 00:14:07.230 --> 00:14:08.640 The third C is campaign. 364 00:14:08.640 --> 00:14:11.070 So how do you build a campaign around this? 365 00:14:11.070 --> 00:14:12.690 Targeting the right audiences, 366 00:14:12.690 --> 00:14:14.970 such that your content can reach the right audience 367 00:14:14.970 --> 00:14:17.790 when they're in the discovery mindset. 368 00:14:17.790 --> 00:14:19.860 Finally, the last C: Channel. 369 00:14:19.860 --> 00:14:22.470 Now that you have built a content, how do you distribute it? 370 00:14:22.470 --> 00:14:24.540 How do you partner with the right platform, 371 00:14:24.540 --> 00:14:26.733 test and learn to distribute the content? 372 00:14:28.114 --> 00:14:31.500 At TikTok, we invite brands, businesses, big or small, 373 00:14:31.500 --> 00:14:33.540 to collaborate with the TikTok community, 374 00:14:33.540 --> 00:14:36.150 to work with our users, with our creators, 375 00:14:36.150 --> 00:14:39.060 and together embrace the age of content 376 00:14:39.060 --> 00:14:41.250 and embrace shoppertainment. 377 00:14:41.250 --> 00:14:43.950 I mean, that is a fascinating demystification 378 00:14:43.950 --> 00:14:46.980 of shoppertainment for marketeers in our audience. 379 00:14:46.980 --> 00:14:48.630 So thank you for joining us today, 380 00:14:48.630 --> 00:14:50.640 for helping us understand the four C's, 381 00:14:50.640 --> 00:14:53.940 and helping us unpack shoppertainment. 382 00:14:53.940 --> 00:14:56.130 I hope you found this useful. 383 00:14:56.130 --> 00:14:57.600 I hope, more importantly, 384 00:14:57.600 --> 00:15:00.420 that you found it educational, entertaining, 385 00:15:00.420 --> 00:15:02.370 and hopefully commercial for you. 386 00:15:02.370 --> 00:15:03.963 Thank you for joining us today.