TikTok Targets $20B E-Commerce Expansion in Southeast Asia
TikTok aims to expand its global e-commerce business to $20 billion in merchandise sales this year.
The expansion will be driven by the rapid growth of the Southeast Asian market.
TikTok Shop plans to enter countries like Singapore, Malaysia, Indonesia, the Philippines, Vietnam, and Thailand in 2022.
By 2022, TikTok Shop's GMV in Southeast Asia is expected to reach $4.4 billion, a significant increase from 2021.
TikTok introduced the TikTok Shop function in Southeast Asian countries since October last year.
The GMV target for TikTok e-commerce is $2 billion by 2022 and $23 billion by 2023.
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