TikTok Parent ByteDance’s E-Commerce Volume Increases in 2022, Internal Data Show – Facts

ByteDance, TikTok’s Chinese language mum or dad firm, is making its approach in e-commerce. In accordance with two individuals acquainted with inside information, customers in China spent 1.41 trillion yuan, or $208 billion, final 12 months to purchase issues on ByteDance’s Douyin video app, TikTok’s Chinese language equal, in 2021. a rise of 76% over In the meantime, in Southeast Asia, TikTok buyers have greater than quadrupled their spending, a metric referred to as gross product quantity, to $4.4 billion, he stated.

The expansion comes at a time when TikTok is dealing with an existential disaster within the US and a few lawmakers try to ban the app as a consequence of nationwide safety considerations. In accordance with Individuals, ByteDance has internally mentioned its plans to extend its e-commerce efforts in additional nations this 12 months, together with the US, Brazil, Spain, and Australia. In November, TikTok launched an early US trial of TikTok Store, an e-commerce function that lets customers store on-line from retailers with out leaving the app.