TikTok reportedly wants to take on Amazon and 4x its shopping business this year — but it faces big challenges
TikTok wants to"more than quadruple" the size of its ecommerce business to as much as $20 billion in sales this year,That would be a huge increase from the $4.4 billion in sales TikTok Shop did last year, and the bulk of the growth would come from markets in Southeast Asia like Indonesia, where livestream shopping is very popular, according to Bloomberg.
TikTok Shop is available in seven regions in Asia. It launched in the UK in 2021 and is in"beta" in the US. TikTok has been trying to ramp up its US offering by giving merchantsTikTok is looking to increase sales in the US and Europe and have consumers see it as an alternative to Amazon, but the realities of the current market mean those places would make up a much smaller slice of this year's $20 billion goal, Bloomberg reported.
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