The second quarter of 2023 is TikTok’s best quarter so far. After a slight dip in Q1 2023, the platform’s penetration increased significantly in Q2, whereas most other platforms’ dropped.
TikTok’s popularity and preference surged across all platform categories.
After two consecutive quarters of decline, Bytedance's golden goose reclaimed its throne in the short videos category. In Q4 2022, we speculated that Gen Z might be losing interest in TikTok as their preference kept dropping. But TikTok has won them back this year. Their preference for this platform has grown 5% quarter per quarter.
Along with Zalo and Instagram, TikTok also saw a slight increase in usage for news consumption, suggesting that people are increasingly turning to social media for their news. Their usage in the Music streaming category also constantly grows. Gen X adopted the pattern of updating music via TikTok.
TikTok Shop achieved a phenomenal growth in usage, jumping 16 percentage points from the previous quarter. We have previously discussed how shoppertainment is the new trend in online shopping. TikTok Shop’s impressive performance clearly signals brands to embrace this trend. However, TikTok Shop still has a long way to go to catch up with the top e-commerce platforms, such as Shopee, Lazada, and Facebook.
For more insights into Vietnam’s social media and mobile app landscape, download Decision Lab’s FREE Connected Consumer Report for Q2 2023 here.
For a consultation about how your brand can tap into this market, reach out to one of our expert consultants today.