SINGAPORE, 27 January 2025 – TikTok Shop’s global GMV surged to US$33.2 billion in 2024, more than doubling year-over-year. The United States emerged as TikTok Shop’s largest market, achieving US$9 billion GMV—a remarkable 650% year-over-year growth—just 16 months after its launch in September 2023.
Momentum Works and Tabcut, a leading e-commerce operations tech and insights provider, have launched a new report, “TikTok Shop in the U.S. 2024: Trends, insights & the road ahead”, examining how videos, live selling, stores, and influencers are transforming the U.S. e-commerce landscape.
Since launching in the U.S.market 16 months ago, TikTok Shop has quickly kickstart a number of initiatives, and has achieved some early results in 2024, including:
- 98 thousand stores and 11 million influencers, who created 17 million videos and 4 million live stream sessions.
- Influencers generated US$5.4 billion in GMV (60% of total GMV) through videos and live streams.
- Videos contributed 58% of GMV, outperforming shops (32%) and live streams (10%).
Live commerce is still in its early stages in the U.S., with fewer than 8% of influencers relying solely on live streaming. The top U.S. TikTok Shop live streaming session in 2024 achieved US$2.1 million GMV over 14 hours, attracting 2.3 million viewers. With only four of the 4 million live sessions generating more than US$1 million in 2024, it is just the beginning for huge potential for growth in this channel.
“In 2024, TikTok content e-commerce experienced astonishing growth, and we are confident that this growth will be even stronger in 2025, forming a synergy with shelf e-commerce and offline retail” said Jensen Wu, CEO and co-founder of Tabcut. “ In this expansive growth track, from developed to developing countries, effectively utilizing the rapidly evolving AI capabilities over the past two years to achieve low-cost, high-efficiency global content creation is both a challenge and an opportunity for everyone. Tabcut will continue to empower our partners in the global content arena through capabilities in intelligent decision-making, AIGC video content production, and digital human live streaming.”
Jianggan Li, Founder and CEO of Momentum Works, added: “The US$9 billion GMV in its first full year of operations is not trivial, and TikTok Shop probably would have far more ambitious targets for US, as well as for its impending launch across Europe and Latin America. TikTok Shop has become a catalyst for video and live commerce in the U.S. With Amazon testing live commerce, and platforms like Google/YouTube and Meta collaborating with partners, the competitive landscape is evolving rapidly.
While uncertainties remain, all stakeholders—from brands to logistics providers—must stay agile to capitalize on this opportunity. ”
Key Findings from the Report
- Global GMV Growth: TikTok Shop’s total GMV reached US$33.2 billion in 2024, more than doubling from the previous year.
- Market Leadership: The U.S. surpassed Indonesia to become TikTok Shop’s largest market, achieving US$9 billion GMV, followed by Indonesia, Thailand, and Vietnam.
- Creator Influence: TikTok influencers in the U.S. drove US$5.4 billion GMV (60% of total GMV) through videos and live streams.
- High-Performing Stores: While nearly half of the 398,000 U.S. stores recorded zero sales, 1,033 stores exceeded US$1 million in annual GMV, showcasing the potential for top-performing sellers.
- Live Commerce Potential: Live streaming accounted for just 10% of GMV in the U.S., which shows that it is still in early stages. But with the platforms’ continued commitment to push, the segment may gain more traction in the coming years.
The report is available free for media and offers in-depth insights into TikTok Shop’s performance in the U.S. and future opportunities for brands, influencers, and ecosystem stakeholders.
About Momentum Works
Momentum Works, headquartered in Singapore, is a venture outfit that leads insights on the digital ecosystem in emerging markets, through research, consultancy, community engagement and venture building.
Momentum Works is the go-to source for comprehensive expertise in navigating the evolving landscape of emerging markets, especially in ecommerce, new retail and F&B, as well as application of emerging technologies.
About Tabcut
Tabcut is a third-party TikTok data analysis platform widely used by top sellers on TikTok. To help TikTok merchants excel in content marketing and boost e-commerce growth, Tabcut provides multi-dimensional data analysis services, including TikTok market trends, product selection analysis, AI insights, influencer discovery, video discovery, competitor monitoring, live streaming analysis, and advertising data.
For more information
For further enquiries, please contact Yorlin (yorlin@mworks.asia) and Tabcut (service@tabcut.com)
Appendix – selected pages from the report
The post [Press Release] TikTok Shop in the U.S. Achieves Explosive Growth in 2024, Surpassing US$9 Billion GMV first appeared on The Low Down - Momentum Works.
