According to Bloomberg News, ByteDance-owned TikTok plans to more than triple its global e-commerce operations to $20 billion in retail sales this year by growing in Southeast Asia.
The study noted that TikTok Shop’s gross merchandise value rose to $4.6 billion from $4.4 billion last year. The company is betting on Indonesia and other areas.
Reuters received no response from TikTok.
Customers can buy products using TikTok’s e-commerce platform during live broadcasts.
The Chinese-owned corporation draws scrutiny from countries and regulators over concerns that China could use the app to steal user data or further its goals.
According to the article, the corporation is expanding its US and European sales.
Last year, Financial Times reported that TikTok would outsource its North American live shopping platform to TalkShopLive in Los Angeles.