TikTok Shop Plans to Enter the Latin American Market This Year
Jayson 11 Jan 2024 11:30
TikTok is reportedly planning to launch TikTok Shop in Latin America in the coming months.
At the same time, the platform has also set the U.S. site GMV target at $17.5 billion in 2024, a 10-fold increase from the current level.
As emerging e-commerce markets, Latin America and Southeast Asia have always been the promised land for sellers and platforms from various countries to go overseas. Now, as competition in the Southeast Asian market becomes increasingly fierce, Latin America may become a new choice.
In addition to having a similar population size to Southeast Asia and high economic strength, Latin Americans' habit of shopping through social platforms is also very beneficial to TikTok Shop.
A study conducted by WundermanThompson shows that 82% of Latin Americans have purchased goods indirectly through social platforms, 63% of Latin American consumers have purchased directly through social platforms, and 29% of Latin American consumers have purchased goods from other brands and websites through links on social platforms. Purchased items on.
The study also said that 42% of Latin American consumers have used Facebook Marketplace and Instagram Shopping for shopping in the last month, which is higher than all other regions.
Meanwhile, 75% of Latin American consumers plan to make more purchases via social platforms in the future.
At the same time, the platform has also set the U.S. site GMV target at $17.5 billion in 2024, a 10-fold increase from the current level.
As emerging e-commerce markets, Latin America and Southeast Asia have always been the promised land for sellers and platforms from various countries to go overseas. Now, as competition in the Southeast Asian market becomes increasingly fierce, Latin America may become a new choice.
In addition to having a similar population size to Southeast Asia and high economic strength, Latin Americans' habit of shopping through social platforms is also very beneficial to TikTok Shop.
A study conducted by WundermanThompson shows that 82% of Latin Americans have purchased goods indirectly through social platforms, 63% of Latin American consumers have purchased directly through social platforms, and 29% of Latin American consumers have purchased goods from other brands and websites through links on social platforms. Purchased items on.
The study also said that 42% of Latin American consumers have used Facebook Marketplace and Instagram Shopping for shopping in the last month, which is higher than all other regions.
Meanwhile, 75% of Latin American consumers plan to make more purchases via social platforms in the future.
