News

TikTok Plans to Increase E-Commerce Sales to $20 Billion This Year

Expecting to quadruple the size of its ecommerce operations, TikTok is relying mostly towards the growth of the South Asian market, while also trying to expand into US and Europe

Chinese short video platform, TikTok, has just announced that it hopes to increase the sales of its worldwide e-commerce operations to $20 billion in merchandise sales, relying mostly on ecommerce growth in Southeast Asia.

TikTok, which is widely used amongst teens and young adults all over the world has its own ecommerce platform named the ‘TikTok Shop’, which allows its users to buy products by following links on the video application.

TikTok Shop: a shopping feature accessible directly on the TikTok platform

Last year, TikTok had a total of $4.4 billion in gross merchandise value, which also represents its total sales for the year. Expecting to quadruple the sales in just one year, the company reported that it is betting on growing markets such as Indonesia.

TikTok announces its ambitions at a time where the company is already going through a tough scrutiny from European and US regulators who are investigating the application over suspicion of involvement with the Chinese government.

US and European regulators are starting to believe that the short video application might be sharing data that is sensitive to national security with the Chinese government thus posing a massive threat to the country.

TikTok, however, is trying to fight these accusations, denying any involvement and calling the backlash against the application to be a political move.

Despite all the scrutiny, TikTok still plans to work in the European and American, saying that it is also working on expanding sales in those markets.

 

Read more:

Sponsored
Abdullah Shahid

Share
Published by
Abdullah Shahid

Recent Posts

Garena Free Fire India Launch Rumors: What Fans Need to Know

Reports suggest that Garena Free Fire is set to make a much-anticipated return to India.…

17 hours ago

Albania Bans TikTok for One Year: Here’s the Reason!

The Albanian government has announced a ban on the social media platform TikTok for a…

21 hours ago

Google Pixel 9 Pro vs. 8 Pro: Biggest Upgrades Compared

The launch of Google’s latest Pixel lineup brings an exciting chance to compare the new…

23 hours ago

Azad Kashmir to Host Pakistan’s First Women-Centric Software Technology Park

ISLAMABAD: In February next year, Pakistan is set to launch its first women-focused software technology…

24 hours ago

HEC Reveals Law Admission Test Date for LLB Students

The Law Admission Test (LAT) has been announced by the Higher Education Commission (HEC) of…

1 day ago

Meta’s WhatsApp to Release New Playback Speed Feature for Videos

Meta's WhatsApp is rolling out a new playback speed feature, allowing users to adjust video…

2 days ago