TikTok Shop: The Rising Powerhouse in Social Commerce, Set to Rival eBay Globally
TikTok Shop is witnessing an unprecedented surge in popularity in the United States. Analysts predict that its sales could skyrocket to a whopping $15 billion this year, a mere two years post its launch in the country. This social commerce platform has swiftly risen to challenge established e-commerce titans such as eBay on a global scale.
The ByteDance-owned platform rolled out TikTok Shop in the U.S. in September 2023, revolutionizing the way Americans discover and buy products via social media. As per recent industry reports, TikTok Shop’s monthly U.S. sales have surpassed $1 billion since mid-2024.
Moreover, the platform contributed a staggering $9 billion globally in 2024, marking a jaw-dropping 650% increase within just 16 months. The platform’s success has been particularly remarkable during peak shopping periods. For instance, TikTok Shop generated over $100 million in single-day sales during Black Friday 2024, tripling the amount from the previous year.
The platform’s unique approach merges short-form video content with seamless purchasing capabilities. This allows creators to directly showcase products to their audiences through in-feed videos and live streaming sessions.
Source: Washington Post