With its initial release in 2021, TikTok Shop has grown significantly and may be the first legitimate contender to the global e-commerce giant Amazon.
First launching in Indonesia and spreading throughout Southeast Asia, TikTok Shop has been able to grow significantly with predictions stating that the company will reach $20 billion in gross merchandise value by the end of the year, which would be quadruple from the year before.
The growth of TikTok Shop is not without hurdles, however, as the looming ban of TikTok within the U.S. over security concerns could have a detrimental impact on the growth of the feature. Without a U.S. market to capitalize on it is unlikely that TikTok Shop will ever outperform Amazon.
Source: Financial Times