In addition, it is understood that the current GMV of TikTok Shope in Southeast Asian countries has exceeded 13 billion U.S. dollars, of which Indonesia has exceeded 4 billion U.S. dollars and the Thai market is about 3.5 billion U.S. dollars.
Although it only started to test the e-commerce business in 2021, TikTok Shop's GMV performance is amazing, growing rapidly from the initial US$1 billion to US$4.4 billion last year, US$13 billion this year, and US$50 billion next year.
It is worth noting that in addition to the Southeast Asian market, the US market is also unleashing its potential.
It is reported that the single-day sales of TikTok Shop in the United States in May were more than 300,000 US dollars, which increased to more than 5 million in August and soared to 10 million US dollars in October. According to FastMoss data, during the "Black Friday" promotion, the single-day sales on November 24 Daily GMV exceeds US$33 million.
It is also reported that Temu has set a GMV target of US$30 billion for 2024, which is also double this year's target.
