On TikTok Shop, if your content doesn’t convert, you don’t exist.



TikTok Shop in the U.S. jumped from $9 billion in GMV in 2024 to $15.1 billion in 2025. But this growth didn’t come from charismatic live hosts or viral "Shoppertainment." It was powered by the static, boring "Shop Tab", good old search-based shopping.



Teng Ian Wong, Insights Manager at Momentum Works, joins BFM to dive into why American consumers are favouring traditional search over live streams, and compares this to Southeast Asia’s $45.6 billion mature ecosystem.



We discuss:




The Shop Tab Takeover: Why the static marketplace now outpaces live shopping (only 14% of US GMV) and why Americans prefer to "search and compare."


The "Zombie Store" Plague: Why over 50% of the 800,000+ U.S. TikTok Shops recorded zero sales, and the high barrier to algorithmic success.


Southeast Asia vs. The US: A look at Thailand’s outsized performance ($11.5B) compared to Malaysia ($6.2B), and the structural differences in labour costs that make US live streaming expensive.


The "Horse Racing" Strategy: How smart brands are surviving high influencer churn by betting on multiple accounts rather than a single "mega-influencer."


Logistics & Pricing: The move toward a "Fulfilled by TikTok" model to rival Amazon, and why prices dropped in 15 out of 27 categories.

On TikTok Shop, if your content doesn’t convert, you don’t exist.TikTok Shop in the U.S. jumped from $9 billion in GMV in 2024 to $15.1 billion in 2025. But this growth didn’t come from charismatic live hosts or viral "Shoppertainment." It was powered by the static, boring "Shop Tab", good old search-based shopping.Teng Ian Wong, Insights Manager at Momentum Works, joins BFM to dive into why American consumers are favouring traditional search over live streams, and compares this to Southeast Asia’s $45.6 billion mature ecosystem.We discuss:<ul><li>The Shop Tab Takeover: Why the static marketplace now outpaces live shopping (only 14% of US GMV) and why Americans prefer to "search and compare."</li><li>The "Zombie Store" Plague: Why over 50% of the 800,000+ U.S. TikTok Shops recorded zero sales, and the high barrier to algorithmic success.</li><li>Southeast Asia vs. The US: A look at Thailand’s outsized performance ($11.5B) compared to Malaysia ($6.2B), and the structural differences in labour costs that make US live streaming expensive.</li><li>The "Horse Racing" Strategy: How smart brands are surviving high influencer churn by betting on multiple accounts rather than a single "mega-influencer."</li><li>Logistics &amp; Pricing: The move toward a "Fulfilled by TikTok" model to rival Amazon, and why prices dropped in 15 out of 27 categories.</li></ul>

Helping you navigate the ever-changing universe of business, from headlines to the bottom line

Helping you navigate the ever-changing universe of business, from headlines to the bottom line

Enterprise Explores

Zombie Shops: Why 50% Of TikTok Merchants Have 0 Sales

Is Kwai Chai Hong preserving heritage, or curating it for a modern audience? As Visit Malaysia Year 2026 gathers pace, cultural spaces are becoming tourism assets and brand platforms. So, where does authenticity sit when heritage intersects with sponsorship, spectacle and commercial realities?



Zeen Chang, Co-Founder of Kwai Chai Hong, discusses the fine line between community and commodity. We examine whether restoration inevitably becomes curation, how corporate partnerships shape cultural storytelling, and what it means to protect integrity when culture becomes part of a national narrative.


We also explore the economics behind experiential heritage, the risks of aesthetic theatre, and the principles Zeen refuses to compromise on as Kwai Chai Hong continues to evolve.

Is Kwai Chai Hong preserving heritage, or curating it for a modern audience? As Visit Malaysia Year 2026 gathers pace, cultural spaces are becoming tourism assets and brand platforms. So, where does authenticity sit when heritage intersects with sponsorship, spectacle and commercial realities?Zeen Chang, Co-Founder of Kwai Chai Hong, discusses the fine line between community and commodity. We examine whether restoration inevitably becomes curation, how corporate partnerships shape cultural storytelling, and what it means to protect integrity when culture becomes part of a national narrative. We also explore the economics behind experiential heritage, the risks of aesthetic theatre, and the principles Zeen refuses to compromise on as Kwai Chai Hong continues to evolve.

Heritage in The Experience Economy

As traffic congestion worsens across the Klang Valley and e-hailing fares surge to eye-watering levels during peak hours, mobility in Malaysia is no longer just about getting from point A to B. It is becoming a question of fairness, affordability, productivity, and long-term planning. With commuters losing hours on the road, costs rising, and public frustration mounting, the cracks in our transport ecosystem are becoming harder to ignore.



We speak to Wan Agyl Wan Hassan, CEO of MARA Liner and Founder of My Mobility Vision, to unpack what is really happening beneath the surface. From the economics of surge pricing and the public’s growing distrust of platform mobility, to the deeper structural issues shaping how Malaysians move, this conversation explores what a fair and functional mobility system should look like. We examine the role of public transport, the limits of infrastructure-first thinking, and the policy choices that could determine whether Malaysia builds a more equitable system or remains stuck in a cycle of congestion and cost.

As traffic congestion worsens across the Klang Valley and e-hailing fares surge to eye-watering levels during peak hours, mobility in Malaysia is no longer just about getting from point A to B. It is becoming a question of fairness, affordability, productivity, and long-term planning. With commuters losing hours on the road, costs rising, and public frustration mounting, the cracks in our transport ecosystem are becoming harder to ignore.We speak to Wan Agyl Wan Hassan, CEO of MARA Liner and Founder of My Mobility Vision, to unpack what is really happening beneath the surface. From the economics of surge pricing and the public’s growing distrust of platform mobility, to the deeper structural issues shaping how Malaysians move, this conversation explores what a fair and functional mobility system should look like. We examine the role of public transport, the limits of infrastructure-first thinking, and the policy choices that could determine whether Malaysia builds a more equitable system or remains stuck in a cycle of congestion and cost.

Fair Fares, Broken Roads: Rethinking Mobility In A Congested Nation

In the last four years, Southeast Asia’s electricity demand has surged by 24%. Yet, despite the falling cost of renewables, nearly 80% of that new demand was met by coal and gas. The problem isn't the technology, it's a "locked-in" market structure that indirectly blocks the green transition

Alexandre Salesse, Partner at BCG, explains how the "Single Buyer" model and "Take or Pay" contracts have created a reliability gold standard at the cost of future flexibility.

He also unpacks the four critical reform levers needed to modernise the grid without triggering blackouts or investor flight.



Learn about:




The Physics of Power: Why electricity is a unique commodity that requires a perfect "bicycle balance" between production and consumption.


The "Sunk Cost" of Coal: How long-term contracts force utilities to prioritise fossil fuels they’ve already paid for, leaving no room for cheaper solar.


Unbundling for Competition: The necessity of separating power purchasers from plant owners to resolve built-in conflicts of interest.


The ASEAN Power Grid: Why it took 14 years to negotiate one wind farm and how a regional framework could fast-track future cross-border projects.


Targeted Subsidies: Moving away from hidden "blanket" subsidies toward transparent, time-bound support for those who need it most.


Avoiding Wishful Thinking: Why Southeast Asia shouldn't aim for immediate, Western-style liberalisation, but rather incremental "flexibility levers."

In the last four years, Southeast Asia’s electricity demand has surged by 24%. Yet, despite the falling cost of renewables, nearly 80% of that new demand was met by coal and gas. The problem isn't the technology, it's a "locked-in" market structure that indirectly blocks the green transitionAlexandre Salesse, Partner at BCG, explains how the "Single Buyer" model and "Take or Pay" contracts have created a reliability gold standard at the cost of future flexibility.He also unpacks the four critical reform levers needed to modernise the grid without triggering blackouts or investor flight.Learn about:<ul><li>The Physics of Power: Why electricity is a unique commodity that requires a perfect "bicycle balance" between production and consumption.</li><li>The "Sunk Cost" of Coal: How long-term contracts force utilities to prioritise fossil fuels they’ve already paid for, leaving no room for cheaper solar.</li><li>Unbundling for Competition: The necessity of separating power purchasers from plant owners to resolve built-in conflicts of interest.</li><li>The ASEAN Power Grid: Why it took 14 years to negotiate one wind farm and how a regional framework could fast-track future cross-border projects.</li><li>Targeted Subsidies: Moving away from hidden "blanket" subsidies toward transparent, time-bound support for those who need it most.</li><li>Avoiding Wishful Thinking: Why Southeast Asia shouldn't aim for immediate, Western-style liberalisation, but rather incremental "flexibility levers."</li></ul>

Zombie Shops: Why 50% Of TikTok Merchants Have 0 Sales

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