TikTok Aims for $17.5 Billion in US eCommerce Business

The social media giant's ambitious expansion plan sets it up for a clash with rivals such as Amazon, Shein and Temu.

TikTok is reportedly planning to expand its U.S. eCommerce business to $17.5 billion this year, a ten-fold increase from previous figures.
The company's ambitious target sets up a clash with rivals such as Amazon, Shein and Temu.
TikTok's consumer spending comes from TikTok coins that users spend on virtual gifts for content creators on the platform.
ByteDance’s revenue saw an approximately 30% surge in 2023, surpassing $110 billion and outpacing the growth of social media competitors like Meta Platforms and Tencent Holdings.
TikTok Shop, one of ByteDance’s fastest-growing features, offers users the opportunity to purchase items while browsing through a feed of short videos and live streams.