Before you invest another pound in TikTok Shop.
Black Friday is weeks away. Following the Value shows where TikTok Shop creates value, where it's lost and where it's misread, and what founders and leadership teams can do about it now, with the evidence they already hold. It's free, and you don't need to read it all first.
Short of time before Black Friday? Start with the practical guide on pp.53–54.
Nnenna Onuba, Founder. Former Rothschild M&A banker · £20bn+ of transactions · founder and operator · NED, British Beauty Council
Each business and team only sees part of the picture.
A business can hit its channel targets, with every team making sensible decisions, and still put capital in the wrong place. When a customer can discover a product in one place and buy it in another, the value can land across a brand's Shop, its website, Amazon or a retailer's till. Few have an end-to-end view of what the activity creating that value is worth, or how much capital it deserves.
The same bestseller lost money as a single and made money as a two-pack.
The product didn't change. The economics of the offer did.
Nearly 4x ROAS. Still underwater. Know the break-even ROAS of every offer, after its other selling costs, before you set your GMV Max target.
Next10 analysis of anonymised brand data, last 30 days, July 2026. Modelled contribution after selling costs, before fixed overheads. Results depend on cost assumptions. The comparison does not prove that changing the pack caused the difference.
*Next10 Labs model, on the same basis as TikTok's reported GMV Max ROI.
Which products and bundles should you push this Black Friday?
Use your own Shop numbers to see which offers make money, which lose it, and where a different price, pack or bundle would change the answer. Choose whether this peak is about profit or momentum, and it shows the ROAS target each offer needs.
- Margin. What each offer earns after all selling costs.
- Velocity. How quickly it sells.
- Materiality. How much it matters to the business.
No sign-up. Start with one offer or your whole range. Your figures stay in your browser, are not sent to Next10 and are only saved if you choose.
Illustrative. Circle size shows materiality. Tap a group.
Before you invest another pound in TikTok Shop
Eleven lessons, grouped by where you are now. Find yours, then act. Short of time? This practical guide is on pp.53–54 of the report.
01Before you launch, know this.
TikTok or TikTok Shop? Know what Shop adds, and what it costs.
TikTok Shop lets you capture and measure demand through sales, closing the loop between discovery and purchase. The flywheel starts with the right product and offer.EXHIBIT 1.7 · CHAPTER 6
Don't underestimate the creator operation.
Test offers creators can sell before scaling sampling. Recruit widely, then find, nurture and back the few who consistently convert.SECTION 1.3 · EXHIBIT 1.9
Decide how much profitability matters from day one.
Know the break-even ROAS of every product or offer, after its other selling costs. Otherwise, you can scale a loss without realising it.EXHIBIT 2.3 · SECTION 5.1
Premium brand? Don't judge content by sales alone.
Judge what the content sells and what it teaches customers about your brand.PLAYBOOK 4 · SECTION 6.2
02Running a Shop? Get your range right before your next peak.
Choose what you push, and how you bundle it.
Ahead of Black Friday, deciding which products and bundles to back matters more than simply adding creators or media. Know what each offer earns after all selling costs before paying to scale it.EXHIBIT 3.1 · PLAYBOOK 7
Set your baseline before the spend starts.
Know your normal sales and repeat purchases, and agree what peak should prove. After peak, check what changed across Shop, website, Amazon and retail.PLAYBOOK 1 · SECTIONS 5.3–5.4
Review every product and offer through the MVM: Margin, Velocity, Materiality.
Back true heroes, reprice or rebundle workhorses, test potential gold, and stop or prove the rest.EXHIBIT 6.2
Make the next investment conditional.
Not every order has to make money, but the reason for losing money must be explicit, bounded and testable.EXHIBIT 5.3 · SECTIONS 5.5 AND 6.3
03Selling alongside retailers? Know where the profit lands.
TikTok-native and considering retail? Prove the proposition first.
Use a bounded product test to show sustained demand, then take that evidence to buyers to support ranging and stock decisions.PLAYBOOK 3 · SECTION 5.2
Your Shop sales can fall while your creators are working.
A customer may discover a product on TikTok but buy it at a retailer instead. Look across both businesses before judging what TikTok added.SECTIONS 4.2–4.3 · EXHIBIT 4.1
Who pays for the demand? Make the evidence part of the deal.
Agree who captures the value, who carries the cost and whether the incentives work. Keep data-sharing within legal boundaries.SECTIONS 4.4–4.5 · LEGAL APPENDIX
Use the report on your own decision, before Black Friday.
No company data needed. Your own AI assistant does the reading with you.
- Get the report and open the AI assistant you already use.
- Attach the PDF and copy the prompt.
- Tell it what you're trying to decide.
Already ran the Profitability Check? Use its Copy my results button and paste them in with the prompt.
Turn what TikTok Shop teaches you into a competitive advantage.
This report shows what we've found. The answers that matter most for your business are private: what good looks like for your Shop, which products and bundles to test or scale and when to pull back, and what your TikTok customers are really worth. That's where your advantage lives, and where our work begins.
We work with founders and leadership teams to turn what TikTok Shop teaches them into a competitive advantage across the business: better products and offers, sharper content and brand positioning, smarter investment and more valuable growth. Not just a bigger channel.
We don't run your channel. We sit alongside your team and agencies, with no platform, agency or tool to sell, and leave the capability with you.
We've chosen a side. It's yours.
Economics
Where is value being created or lost? We start with money you're already spending.
Evidence
What are we learning across products, offers, content and customers? How reliably can we measure it, and what still needs proving?
Decision
What should we back, change, test or stop, and where else in the business can that learning work?
Learn with us.
Briefings and in-house clinics for leadership teams, boards and investors: where the opportunities and risks lie, and what to do differently.
Solve a live decision together.
Your decision, your numbers, and the evidence each team holds, brought into one view. From planning a launch to deciding what to scale or assessing an investment.
Already running a Shop? Start with our free Profitability Check: your own Margin, Velocity, Materiality view (Exhibit 6.2), showing where you're leaving profit on the table.
Bring us the decision you're facing.
The first conversation is on us. You don't need to send any figures to start.
Nnenna Onuba
Nnenna is a Non-Executive Board Director of the British Beauty Council and was named one of Brummell's 30 Inspirational Women in the City in 2026.
Connect on LinkedIn →About Next10 Labs
Next10 Labs brings together what consumer businesses rarely find in one place: independent research, commercial judgement, measurement expertise and a network of senior specialists, starting with TikTok Shop.
We combine our own analytical tools and know-how with the best emerging solutions and specialist expertise. With no platform, agency or software to sell, we find the most practical, cost-effective route to your goals.
Over a career spanning more than two decades, Nnenna trained as a chartered accountant at PwC, spent ten years in mergers and acquisitions at investment bank Rothschild, working on more than £20bn of transactions, founded and ran beauty brand LBB Skin, co-led the sale of Nailberry, and invests in consumer businesses.
She brings a banker's eye for where value is created, lost and frequently misread, and a founder's understanding of what it takes to bring people together and act on the evidence.
Bring us the decision you're facing.
The first conversation is on us.