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.

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The expansion will be driven by the rapid growth of the Southeast Asian market.

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TikTok Shop plans to enter countries like Singapore, Malaysia, Indonesia, the Philippines, Vietnam, and Thailand in 2022.

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By 2022, TikTok Shop's GMV in Southeast Asia is expected to reach $4.4 billion, a significant increase from 2021.

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TikTok introduced the TikTok Shop function in Southeast Asian countries since October last year.

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The GMV target for TikTok e-commerce is $2 billion by 2022 and $23 billion by 2023.

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