Two years after launching in the U.S., TikTok Shop has a reported $19 billion in quarterly sales, rivaling the sales performance of eBay, which still leads by about a billion dollars, according to third-part TikTok analytics tool EchoTik. After getting off to what seemed to be a rocky start, the fact that it took only 24 months for TikTok Shop to became competitive with the 30-year-old eBay is drawing notice. A TikTok representative said TikTok Shop’s live-stream shopping segments were up 72 percent year-over-year as of September, with sales up by 120 percent as of June. Live-stream shopping is only one aspect of TikTok Shop. Others include shoppable videos, a marketplace and creator storefronts.  Continue reading TikTok Shop Reports $19 Billion Sales Quarter, Rivaling eBay

Live-stream shopping has been slow to take off in the U.S., but some feel the sector is at a tipping point. U.S. revenue from the format is projected to reach $20 billion this year and grow to $57 billion in 2025 says Coresight Research. However, that’s a drop in the bucket compared to the activity in Asia. McKinsey Digital says outlets like Alibaba can rack up more than $7 billion in 30 minutes. Estimates place the Asia-Pacific market at about $180 billion in live-streamed shopping for 2021. Now big players like Walmart, Target, YouTube and TikTok are getting serious about cracking open the U.S. market, too. Continue reading Retailers, Big Tech Get Behind Live-Stream Shopping in U.S.