US TikTok Shop GMV surged to $9B in 2024, surpassing Indonesia. Singapore also saw 4x growth, while Spain's TikTok Shop could reach 10M users by 2025, reshaping e-commerce.
TikTok Shop's global GMV skyrocketed to $32.6B in 2024. The U.S. grew 6.5x YoY to $9B, surpassing Indonesia as the largest market. Singapore saw a 4x GMV jump. This rapid growth is fueled by TikTok’s social commerce model, which blends entertainment and shopping seamlessly.
With 398K stores and 11M influencers, TikTok Shop has built a strong ecosystem in the U.S. The average GMV per store is $22.6K, much higher than Indonesia’s $14.3K. Video content is driving sales, contributing 58% of GMV, while live commerce makes up 10%.
Influencers are the engine behind TikTok Shop, generating $5.4B in GMV. They produced 17M product videos, accounting for nearly 90% of content. The top live shopping session alone hit $2.1M in GMV, signaling a shift in how consumers shop online.
Spain’s TikTok Shop launched in Dec 2023 and already 10% of beauty shoppers have purchased on the platform. If trends mirror the U.S., Spain could reach 10M users by 2025. With AliExpress, Shein, and Temu thriving there, TikTok may have found its next big market.
Will TikTok Shop disrupt traditional e-commerce giants?
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