According to reporting, TikTok aims to significantly boost its e-commerce business line in 2024, targeting a tenfold increase in top-line revenue, equating to roughly $17.5 billion USD in sales. TikTok announced it is implementing pricing action (a quadrupling of its seller fees) to achieve this goal, increasing them from from 2% to 8% by July. The fee adjustment will better position TikTok against its fast fashion retail competitors, and still undercut Amazon which averages roughly 15% for its sellers.
TikTok Reportedly Aims To Grow E-Commerce to $17.5B USD Following Seller Fee Hike
