TikTok Shop’s Goal Next Year: $50 Billion!
Jayson 20 Dec 2023 09:12EN
TikTok Shop has set a GMV target of US$50 billion for 2024. Compared with this year's target figure of US$20 billion, the target has more than doubled.
In addition, it is understood that the current GMV of TikTok Shope in Southeast Asian countries has exceeded 13 billion U.S. dollars, of which Indonesia has exceeded 4 billion U.S. dollars and the Thai market is about 3.5 billion U.S. dollars.
Although it only started to test the e-commerce business in 2021, TikTok Shop's GMV performance is amazing, growing rapidly from the initial US$1 billion to US$4.4 billion last year, US$13 billion this year, and US$50 billion next year.
It is worth noting that in addition to the Southeast Asian market, the US market is also unleashing its potential.
It is reported that the single-day sales of TikTok Shop in the United States in May were more than 300,000 US dollars, which increased to more than 5 million in August and soared to 10 million US dollars in October. According to FastMoss data, during the "Black Friday" promotion, the single-day sales on November 24 Daily GMV exceeds US$33 million.
It is also reported that Temu has set a GMV target of US$30 billion for 2024, which is also double this year's target.
In addition, it is understood that the current GMV of TikTok Shope in Southeast Asian countries has exceeded 13 billion U.S. dollars, of which Indonesia has exceeded 4 billion U.S. dollars and the Thai market is about 3.5 billion U.S. dollars.
Although it only started to test the e-commerce business in 2021, TikTok Shop's GMV performance is amazing, growing rapidly from the initial US$1 billion to US$4.4 billion last year, US$13 billion this year, and US$50 billion next year.
It is worth noting that in addition to the Southeast Asian market, the US market is also unleashing its potential.
It is reported that the single-day sales of TikTok Shop in the United States in May were more than 300,000 US dollars, which increased to more than 5 million in August and soared to 10 million US dollars in October. According to FastMoss data, during the "Black Friday" promotion, the single-day sales on November 24 Daily GMV exceeds US$33 million.
It is also reported that Temu has set a GMV target of US$30 billion for 2024, which is also double this year's target.
