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«The phenomenon has already exceeded 1.3 trillion dollars annually», PwC explained to MFF. By 2030, this figure is expected to surge to 8.5 trillion. Beauty and fashion are the best-selling categories. While Facebook and Instagram hold 47% of the market, the Trendy Beat feature on the Chinese social media platform, which aims to internally produce goods, has Amazon and Shein concerned
Ireland's Data Protection Commission (DPC) announced that the agency is fining TikTok with $367 million due to the company's way of handling data from children.
TikTok to Ban Outside E-Commerce Links, Encouraging Use of TikTok Shop TikTok is planning to ban links to outside e-commerce platforms like Amazon,
TikTok plans to ban external shopping affiliate links in an effort to boost their in-house shopping feature.
TikTok wants to expand its e-commerce ambitions with Indonesia's help. TikTok is expanding its e-commerce ambitions in Southeast Asia. The widely popular short-form video-sharing platform is in talks with the Indonesian government to get a payment license to expand its e-commerce platform.