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TikTok looks to take on Amazon in US, eyes $17.5 billion shopping business in 2024 – ETTelecom

TikTok looks to take on Amazon in US, eyes $17.5 billion shopping business in 2024 – ETTelecom

MVAS/Apps 3 min read TikTok’s ambitious target sets up a clash not just with Amazon but also fellow Chinese-owned outfits Temu and Shein, who’ve been making big strides among younger American shoppers. Unlike its two rival discounters, TikTok is counting on its social media reach and the appeal of viral videos to hook buyers.ByteDanceLtd.’sTikTokaims to grow the size of its US ecommerce business tenfold to as much as $17.5 billion this year, according to people familiar with the matter, posing a bigger threat toAmazon.com Inc.The 2024 merchandise volume goal for the US version of TikTok Shop — which melds online entertainment with… 

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