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TikTok on vie with Amazon and ...

TELECOM

TikTok on vie with Amazon and contenders in the US

TikTok Amazon
The Silicon Review
04 January, 2024

TikTok to collide head-on with Amazon, Temu, and Shein in the US

ByteDance, TikTok’s parent company, sets its sights on growing its US e-commerce business market by ten times, which would amount to around 17.5 billion dollars in 2024. ByteDance is considering not only Amazon but also the similar companies owned by the Chinese, such as Temu and Shein, as its target, as it has a great market rapport with the youth amongst all American consumers. ByteDance’s critical customer base appears to be the social media platform of TikTok, mainly the viral content. The specific merchandise for this year for the US TikTok Shop taps into live entertainment streaming combined with the desire to purchase online the products the fashion, lifestyle, or any kind of influencer advertises.

In 2023, TikTok pooled up to 20 billion dollars in global gross merchandise value, in which Southeast Asia played a critical role because of the boosted sales on the online portal. The company’s new agenda is to increase and enhance its market base in the US and Latin American regions. One of TikTok's outstanding features is its ability to let the user consume live media content while also allowing them to purchase the supposed items. By doing so, ByteDance aims for its customers to rely more on TikTok for shopping than on Amazon, Temu, Shein, Sea Ltd.’s Shoppe, and many others.