TikTok E-commerce's 2023 GMV and Future Goals
TapTechNews May 24th news, sources close to TikTok E-commerce disclosed to 36Kr that the total merchandise volume (GMV) of TikTok E-commerce in 2023 is approximately $410.2 billion (2.7 trillion RMB), and the GMV target for 2024 is $613.6 billion (4 trillion RMB), an increase of nearly 50%.
For comparison, Alibaba's full-year GMV last year was $1120.4 billion (7.2 trillion RMB), while Pinduoduo's GMV was $631.5 billion (4.05 trillion RMB).
Actually, in February this year, LatePost had reported that TikTok E-commerce had set a full-year total transaction amount (GMV) target of over $465.1 billion (3 trillion RMB) this year. In response, the relevant person in charge of TikTok E-commerce said that the relevant data is untrue.
Sources disclosed: The low-price strategy of TikTok E-commerce this year will be extended to the content field. The mall and short videos will strongly recommend low-price goods, while the live room will continue to carry high-unit-price goods mainly based on brands.
According to TapTechNews' previous report, the GMV (total merchandise volume) of TikTok E-commerce's mall in 2023 increased by 277% year-on-year. In the past year, a total of 8.84 million authors on TikTok E-commerce carried goods through live broadcasts, short videos, showcases, graphic and text, etc., and obtained income. The number of authors with a cumulative GMV of over $150,000 (100,000 RMB) exceeded 600,000.
TikTok had also previously released the 2023 Annual Data Report (Complete Version). The data showed that in 2023, the total transaction volume of the TikTok life service platform increased by 256%, covering more than 370 cities and involving more than 4.5 million stores.
Compared with last year, the short-video transaction volume of the TikTok platform increased by 83% this year, the short video posting volume increased by nearly 1.4 times, the graphic and text content posting number increased by 2.68 times, and the platform live transaction volume increased by 5.7 times.