Parent of TikTok seeks to double the volume of e-commerce of the Chinese application to $ 240 billion – Information

TikTok took Facebook and YouTube. Now he hopes to compete with Amazon.

In China, TikTok’s parent company, ByteDance, has in recent years turned its Douyin video app into shopping, eroding the dominance of Alibaba’s e-commerce, the Chinese equivalent of Amazon. This year, ByteDance aims to double the amount of shopping that takes place in Douyin, China, to nearly $ 240 billion, according to people familiar with the Chinese company’s domestic target.

ByteDance is now expecting a global expansion of e-commerce. Last year, TikTok launched an e-commerce feature, TikTok Shop, in the UK and Indonesia, which allows users to make purchases in the app, and last month introduced the feature in Thailand, Vietnam, Malaysia and the Philippines. If 1 billion active monthly TikTok users embrace the shopping feature, ByteDance will make a great rival to Amazon. But this may be more difficult than has been proven in China.