Global TikTok Shop Sales Increased by Over 100% in 2024

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Adi Ahdiat 25/02/2025 18:40 WIB

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According to global market research firm Cube Asia, the value of transactions on TikTok Shop globally is projected to increase by 135% in 2024 compared to 2023.

Estimated Net Sales Transaction Value on TikTok Shop Global (2023-2024)

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Estimated Net Sales Transaction Value on TikTok Shop Global (2023-2024)

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According to global market research firm Cube Asia, sales transactions through TikTok Shop have grown rapidly over the past year.

Cube Asia estimates that the global net merchandise value (NMV) of TikTok Shop in 2024 will reach US$33 billion.

This represents an increase of approximately 135% compared to the 2023 NMV, as shown in the graph.

NMV reflects the total value of merchandise sold through TikTok Shop, excluding canceled transactions.

"We believe NMV is a better representation of sales, as it measures the actual value spent by consumers," said the Cube Asia team on its website, Monday (24/2/2025).

According to Cube Asia, the strong growth of TikTok Shop in 2024 was driven by the United States (US) market.

They estimate that TikTok Shop's NMV sales in the US in 2024 will reach US$9 billion, the largest compared to other TikTok markets.

Cube Asia also believes that TikTok Shop has the potential to strengthen further in 2025 with market expansion.

"With the launch of TikTok in Spain and Ireland in December 2024, it seems the company's expansion strategy will resume. Italy, Germany, and France have been mentioned as potential new markets in Europe, and in other regions, there are Mexico, Brazil, and Japan," said Cube Asia.

"In Southeast Asia, we are starting to see growth in new product categories, such as home, office, and electronic supplies. These new categories should provide a solid foundation for TikTok Shop's growth in 2025," it continued.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."