Consumer – Weekly TikTok update; Shop data (SN, VFC, CROX, ULTA & more) + trends review (apparel, footwear, off-price)

研报英文原文证据摘录

Consumer – Weekly TikTok update; Shop data (SN, VFC, CROX, ULTA & more) + trends review (apparel, footwear, off-price)

Truist Securities

Data available in Excel - For each shop that we are currently tracking across apparel, footwear, and

beauty, see the following pages for sales metrics over the past 2 weeks. In addition, see pages 3-5

for TikTok (ByteDance, private) trends over the past ~90 days (based on the number of posts &

views for individual hashtags) for several brands across the consumer universe (running shoes,

athleisure, fashion apparel, beauty, and off-price retailers). Please reach out if you would like to

see either dataset in Excel.

GMV calculation notes; two different methods - Every week, we pull data on the top selling

individual SKUs of each TikTok Shop (up to the top 120 items). For items that were listed this week

AND the week prior, we multiply the delta in # of sales listed by the sales price (including discounts)

to estimate a weekly GMV. We note that if an item was not in our scrape this week OR the week

prior (either because it was temporarily de-listed or it’s a newly listed product) then that item's results

are excluded from our GMV calc, which can potentially drive large WoW fluctuations. Additionally,

sometimes the reported number of items sold for a particular SKU decreases vs. our prior scans. We

assume this may be due to product returns or previously tallied sales that were cancelled. In these

cases, we include that as a negative GMV for the week (which also can drive large WoW

fluctuations). Because the factors listed above may drive large WoW fluctuations, we also provide a

second estimate for weekly GMV using the WoW delta in total shop sales multiplied by the weighted

ASP that we calculate from the top 120 SKUs.